CorpHQ Inc. Announces Agreement to Merge With Progressive Telecommunications Corp.; CorpHQ.com to Integrate With BusinessMall.com to create B2B/e-commerce Powerhouse.Business Editors LONG BEACH, Calif.--(BUSINESS WIRE)--Dec. 30, 1999 CorpHQ Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:COHQ) today announced that it had entered into a letter of intent to merge with Progressive Telecommunications Corp. (OTC BB:PTCI PTCI Percutaneous Transluminal Coronary Intervention PTCI Post-Traumatic Cognitions Inventory PTCI Pacific Tree Climbing Institute PTCI Physical Therapy Clinic, Inc. PTCI Programmable Telecommunications Interface ), in an all stock transaction valued at $6.6 million. Progressive Telecommunications is an integrated telecommunications and Internet company with a commitment to achieving new horizons through integrated technology and the Internet. The BusinessMall.com is an integral piece of Progressive's ongoing business strategy to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the business-to-business e-commerce revolution. As an Internet portal and e-commerce site, BusinessMall.com will provide a single point of contact for all business needs. "Barry Shevlin and his team at Progressive are assembling a B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. powerhouse," said CorpHQ's Chief Executive Officer Steven Crane. "We are extremely impressed with the vision and capability of Progressive's management team, the professionalism of their telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. operation and the plans for their Internet properties. CorpHQ's business model and management team are a perfect fit into the Progressive organization. As a co-founder, this is a proud day for me; I believe the merger will allow CorpHQ to live up to its incredible potential." About CorpHQ 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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