DigitalReach Holdings, Inc. Reports Corporate Changes.Business Editors, High-Tech Writers LOS ANGELES--(BUSINESS WIRE)--Nov. 15, 2001 DigitalReach Holdings, Inc. ("Company"), (Pink Sheets:DRHC DRHC Développement des Resources Humaines du Canada (Human Resources Development Canada) ), by unanimous written consent of its Board of Directors reports the following corporate changes. DIRECTOR APPOINTMENT Effective October 15, 2001, the Board of Directors of DigitalReach Holdings, Inc. nominated nom·i·nate tr.v. nom·i·nat·ed, nom·i·nat·ing, nom·i·nates 1. To propose by name as a candidate, especially for election. 2. To designate or appoint to an office, responsibility, or honor. and appointed Kristoffer Marlow Magcalas to fill the Company's vacant Director position. Mr. Magcalas is presently working as a Network Systems Administrator for Creative Resources and Management, Inc. Previously, Mr. Magcalas was Head of Technical, Network and Hardware Systems for a Philippine-based management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects firm from May 1999 to March of 2001. From April 1998 to April 1999, Mr. Magcalas served as Head of Information Technology for World's Best Food International Corp. SHARE DISTRIBUTION The Company, by unanimous written consent of its Board of Directors dated November 5, 2001, has approved the distribution of one (1) share of its wholly-owned subsidiary, Digitalreach International, Inc., to each Company stockholder on record as of September 30, 2001. The distribution shall take effect no later than November 30, 2001. As a result of the distribution, all Company shareholders of record on September 30, 2001 will become shareholders of the subsidiary. SUBSIDIARY NAME CHANGE On November 5, 2001, Digitalreach International, Inc., the Company's subsidiary mentioned hereinabove here·in·a·bove adv. Hereinbefore. , has approved a change in its name to "Net Dynamics, Inc." Said approval was obtained by and through a unanimous written consent of its Board of Directors. This change will take effect immediately upon approval by the Secretary of State of Nevada. ANNOUNCEMENT OF ANNUAL SHAREHOLDERS MEETING The Company, by unanimous written consent of its Board of Directors and pursuant to its by-laws, has scheduled the annual meeting of shareholders for the third week of April 2002. CORPORATE REINSTATEMENT Reinstatement The restoration of an insurance policy after it has lapsed for nonpayment of premiums. The Company is presently in "good standing" in Florida after having obtained a certificate of reinstatement dated October 19, 2001 from the Secretary of State of Florida The Secretary of State of Florida is a constitutional officer of the state government of Florida, established by the original 1838 state constitution.[1]. Like the corresponding officials in other states, the original charge of the Secretary of State — to be the . DigitalReach Holdings, Inc. is a public company having equity participation in companies that develop intelligent business and people valuation software. This software enables the valuation of individuals, industries and institutions, and allows corporate decision-makers to translate intangible and non-finite assets into definable values. The Company's products employ proprietary business models, which recognize the evolving nature of e-commerce and the growth of Internet-based economies. DigitalReach Holdings, Inc. has invested in software development start-up companies start-up company A new business. , including digitalReach Corp. (www.digitalreach.com), thereby strengthening DigitalReach Holdings' valuation solution product lines by being capable of delivering state-of-the-art People Asset Management (PAM(TM)) software solutions. For a complete copy of the Form 8K filing, please visit www.pinksheets.com and /or link to www.freeEDGAR.com. The press release contains 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. 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. Expression of future goals and similar expressions reflecting something other than historical fact involve risks and uncertainties. The actual results the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. |
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