CyberEdge Enterprises, Inc.: Corporate Update.Lifestyle Editors/Business Editors/Food Writers NEW YORK--(BUSINESS WIRE)--Jan. 7, 2003 CyberEdge Enterprises, Inc. (Pink Sheets: CYBT) Agrees to acquire all of the issued and outstanding shares of WAYNE'S FAMOUS PHILLIES (TM). CYBT has entered into an agreement to acquire Locklear, Lynch and Schultz, Inc., a Virginia corporation doing business as "WAYNE'S FAMOUS PHILLIES"(TM). WAYNE'S operates a quality retail food business chain serving an overlooked and neglected market - those consumers looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a wholesome whole·some adj. whole·som·er, whole·som·est 1. Conducive to sound health or well-being; salutary: simple, wholesome food; a wholesome climate. 2. food product while they have their cars serviced. Located in Virginia Beach, Virginia Virginia Beach is an independent city located in the South Hampton Roads area in the Commonwealth of Virginia, on the shores of the Chesapeake Bay and the Atlantic Ocean. It is the most populous city in Virginia and the 41st largest city in the United States, with an estimated WAYNE'S operates two facilities under its trademark name "WAYNE'S FAMOUS PHILLIES"(TM) with its prototype location in a new structure in the existing CAR SPA building. A third and fourth location in existing CAR SPA buildings will be opened in Atlanta, Georgia in January 2003 and Jacksonville, Florida “Jacksonville” redirects here. For other uses, see Jacksonville (disambiguation). Jacksonville is the largest city in the state of Florida and the county seat of Duval County. in February 2003. The acquisition is subject to final due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. by both parties, and is anticipated to close no later than January 31, 2003. Based on the completion of the Atlanta facility WAYNE'S will formalize its relationship with CAR SPA for the build out of all of the CAR SPA'S existing ten facilities and be part of their rollout program so that future construction will incorporate WAYNE'S FAMOUS PHILLIES(TM) at the time the CAR SPA building is constructed. This will eliminate or significantly reduce rework/retro fit costs that WAYNE'S has experienced or will experience for the existing locations of CAR SPA. The future model for development of WAYNE'S is to operate as owner/operator of 10 WAYNE'S facilities in the CAR SPA locations and to develop a franchise operation for the further rollout of WAYNE'S at CAR SPA's new facilities. WAYNE'S is currently negotiating with three potential franchisees in Dallas and Florida. Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that these 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. reflect numerous assumptions and involve risks and uncertainties that may affect CyberEdge Enterprises, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are CyberEdge Enterprises, Inc. operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favorable terms. |
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