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Converge Global, Inc.; Converge Global Plans Name Change to TeleWrx, Inc.


Business Editors

BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--April 8, 2002

Converge Global, Inc.. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:CVRG CVRG Cardiovascular Research Group ), announced today that its Board of Directors has recommended the company change its name to TeleWrx, Inc. and has authorized the officers to take all steps necessary to obtain the approval of the majority of our shareholders.

On March 25, 2002, TeleWrx, Inc. became a wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 and CVRG's only operating entity. The Board has also decided to organize the company as a holding company with TeleWrx, Inc. as its first operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. . This form of business operation is planned to accommodate further expansion in the marketing of high quality communications products through its international organization of network marketers. The company business focus is on high quality, highly competitive products that deliver "Communications that Work for You."

Mr. Michael Brown Michael or Mike Brown may refer to:

In politics:
  • Michael Brown (Liberal Democrats donor) (1966-), a Scottish businessman, convicted for perjury, largest-ever donor to the Liberal Democrats
, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of TeleWrx, stated; "It is our desire to have the name of our company more accurately reflect our business activities. At this time TeleWrx, Inc. is our only operating subsidiary and its operations the only focus of our business activity." Mr. Brown added that, "We feel it is very important that our corporate name be closely identified with the activities of our sales representatives. Our goal is to build a sales force that is capable of numbering over 50,000 and one that is capable of becoming one of the largest and most successful groups of network of marketers ever assembled."

TeleWrx offers a broad range of telecommunications services In telecommunication, the term telecommunications service has the following meanings:

1. Any service provided by a telecommunication provider.

2.
 for the domestic and international markets. Management plans to build its core business by obtaining loyal customers from the over 100,000,000 homes using long distance services, by providing a bundle of communications services at a very competitive flat monthly rate that is easy to understand and meets the customers' needs. To do this TeleWrx utilizes products that are competitively positioned in the marketplace and combines them with its competitive advantage of network marketing and the power of personal "One on One" selling.

The Company's products and sales force, along with its straightforward sales approach, will position TeleWrx to quickly acquire market share and reach critical mass. The Company's home-based agents will approach the residential and small-business markets with the most cost-effective, most technologically advanced, and highest quality telecommunication services available today. TeleWrx will offer residential and small business long-distance, Wireless long-distance, Internet dialup (56K), calling cards, toll-free service, wireless services including WAP (1) (Wireless Access Point) See access point.

(2) (Wireless Application Protocol) A standard for providing cellular phones, pagers and other handheld devices with secure access to e-mail and text-based Web pages.
 (wireless application protocol) devises, and enhanced services such as "follow me" and nationwide "one number" services. In the current economic environment, home-based businesses have enjoyed explosive growth and experts predict that this growth will be fueled by the expanding markets and new technology in the telecommunications industry.

The statements made in this press release, which are not historical facts, contain certain 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.
 concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. Actual results of the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
COPYRIGHT 2002 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Apr 8, 2002
Words:576
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