Conserve Inc. Schedules Date to Close Transaction with New Mexico Software Inc.SALT LAKE CITY--(BUSINESS WIRE)--July 22, 1999-- Conserve Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CNSR CNSR Conference on Communication Networks and Services Research CNSR Comet Nucleus Sample Return ) Thursday announced that the company has finalized plans to acquire New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). Software Inc. (NMXS) in a reverse merger. The transaction is subject to several conditions including the raising of $1,500,000 in a private offering. As a part of the acquisition of NMXS, Conserve Inc. will change its corporate name to NMXS.com Inc., issue a controlling block of common stock to the NMXS shareholders, effectuate ef·fec·tu·ate tr.v. ef·fec·tu·at·ed, ef·fec·tu·at·ing, ef·fec·tu·ates To bring about; effect. [Medieval Latin effectu a 1.5 to 1 reverse stock split and appoint a new board of directors designated by NMXS. The closing date is scheduled for Aug. 3, 1999. NMXS develops and markets proprietary Internet technology-based software for the high-speed transmission of high-resolution graphic images, video clips A short video presentation. and audio recordings. The software also provides image archiving, asset packaging, data mining and secure e-commerce transaction capabilities. All aspects of the NMXS software provide business-to-business cost-saving solutions for the secure distribution management, storage and retrieval of digital/media assets, as well as significant e-commerce enabling capabilities. The software matrix allows multiple resolutions -- from thumbnail to gigantic -- to be stored in a single file. Another feature of the software allows the viewer to zoom into tiny details without losing resolution. The software has major applications for the media, advertising, publishing, medical, entertainment, e-commerce and university markets. NMXS currently has 21 major clients including six Fortune 500 companies. The company has won several awards for its products including the Smithsonian Innovative Laureate lau·re·ate adj. 1. Worthy of the greatest honor or distinction: "The nation's pediatrician laureate is preparing to lay down his black bag" James Traub. 2. 1998, PMA PMA (papillary-marginal-attached), n a system of epidemiologic scoring of periodontal disease devised by Schour and Massler in which the symbols denote the areas involved in gingival inflammation. PMA Progressive muscular atrophy Innovative Product Award 1997 and the Advanced Imaging Magazine's Imaging Solution of the Year for 1997. For further information contact Dick Govatski, chief executive officer, New Mexico Software, 505/298-3738. The forgoing press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including statements regarding the company's expectation of its future business. These forward-looking statements are based largely on the company's expectations and are subject to a number of risks and uncertainties, certain of which are beyond the company's control. Actual results could differ materially from these forward-looking statements as a result of a variety of factors. In light of these risks and uncertainties there can be no assurances that the forward-looking statements in this press release will in fact transpire or prove to be accurate. |
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