CorpHQ Acquires Source Capital Partners.LONG BEACH, Calif.--(BUSINESS WIRE)--May 12, 1999-- CorpHQ Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:COHQ) Wednesday announced that it had entered into a letter of intent to acquire Source Capital Partners Inc., a financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal firm with headquarters in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . The transaction, valued at $3 million, has received full shareholder approval from Source Capital. This acquisition is expected to increase CorpHQ revenues, on a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma , consolidated basis, from $402,000 to approximately $5 million for fiscal year 1998, and from $155,000 to approximately $1.5 million for the first quarter of 1999. "The Source acquisition provides us with a presence in Manhattan, capable management and strong client relationships," said Steven Crane, chief executive officer of CorpHQ Inc. "It will also allow us to build and rapidly expand our finance community on CorpHQ.com from a sound foundation. Steven Glazer, one of Source's principals, played a key role in the first Internet stock Internet stock The equity security of a company engaged primarily in a business associated with the Internet. Also called dot-com. offering. His experience in Internet-enabled financial transactions will be invaluable to our customers as we expand our capabilities into corporate financial advisory services." CorpHQ operates a portal and series of vertical communities for small office/home office See SOHO. businesses and independent professionals at http://www.corphq.com, "the bridge between the Entrepreneur and the Enterprise." CorpHQ's unique, virtual business model aggregates the capabilities of its diverse subscribers into a virtual corporation that provides numerous services to larger organizations through the Internet and independent distributors. This news release contains 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. , that may involve certain known and unknown risks, uncertainties, and other factors not under the company's control. Such risks and other factors may cause the actual results, performance and achievements of the company to be materially different from the statements made herein. Such forward-looking statements should not be relied upon by investors in making a decision whether or not to invest in the company. |
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