Definition, Ltd. Announces Acquisition of a Professional Employment Organization - PEO.Business Editors PALM SPRINGS, Calif.--(BUSINESS WIRE)--March 15, 2000 Donna Anderson President/CEO of Definition, Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DFNL) is pleased to announce the acquisition of 75% of Interstate Management Services Corporation (IMSC IMSC Integrated Media Systems Center (University of Southern California) IMSC Information Management Steering Committee IMSC International Mobile Satellite Conference IMSC Interworking Mobile Switching Center ). Located in San Diego, IMSC had profitable gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. of $22,000,000 for 1999. Negotiations are currently underway to acquire the remaining 25% of IMSC. IMSC contracts with small businesses to handle their payroll, unemployment insurance, workman's compensation, and can provide group medical and dental. This program gives the small businessman the advantages of a much larger employer. Definition, Ltd. is currently identifying and is in negotiations to acquire several more of these companies. Definition, Ltd. will be opening a new office in San Diego to handle IMSC and future acquisitions in this area. A shareholder meeting was held on February 24, 2000 to vote on the acquisition of RBSI RBSI Royal Bank of Scotland International . Shareholders and proxies representing 72% of the outstanding shares of Definition, Ltd. were in attendance. It was voted that additional 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. was required and that the board be given the authority to do the acquisition upon satisfactory completion of all due diligence. Forward Looking Statement: Except for historical matter contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor 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. These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect The Company's business and prospects and cause actual results to differ materially from these forward-looking statements. |
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