Future Carz, Inc. Announces Acquisitions.Business Editors, Automotive Writers SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Dec. 21, 2000 Future Carz, Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FCZI) -- The Company is pleased to announce that is has signed an agreement to acquire 100% of the outstanding shares of Auto Central Discount, Inc. of San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. . Terms of the deal are assumption of debt of $450,000.00 and the issuance of Two Million Shares (2,000,000) of Future Carz, Inc. stock for the shares of Auto Central Discount, Inc. The Company has also agreed to acquire all the assets including automobile leases, computers, furniture, fixtures, automobiles and any other hard assets owned by American Automotive Group, Inc. of Phoenix. The terms of this agreement call for the issuance of Three Million Shares (3,000,000) of Future Carz, Inc. stock. Future Carz, Inc. will also issue an additional One Million Shares (1,000,000) of its' common stock to retain and add key employees for this operation. Both Auto Central Discount, Inc. and American Automotive Group, Inc. are privately held consumer leasing companies specializing in high-margin automobile leasing. The companies offer the opportunity for consumers to acquire a high quality, pre-owned vehicle without meeting the criteria or requirements of traditional lending. Hal Crawford, currently Chairman of Future Carz, Inc., has hired Edward Heisler as President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . He was most recently in a management capacity with Daimler Chrysler in Detroit. Larry Warren For the US Military UFO witness see Larry Warren (Rendlesham) Larry Warren, M.A., was appointed as the new CEO of Howard University Hospital, as of August,in Washington DC. will become President of Auto Central Discount, Inc., which will include the assets being acquired from American Automotive Group, Inc. Larry is part of the founding family of American Automotive which will now be liquidated DAMAGES, LIQUIDATED, contracts. When the parties to a contract stipulate for the payment of a certain sum, as a satisfaction fixed and agreed upon by them, for the not doing of certain things particularly mentioned in the agreement, the sum so fixed upon is called liquidated damages. (q.v. . Auto Central Discount, Inc. will operate as a wholly-owned subsidiary of Future Carz, Inc. and will be the leasing company. Future Carz, Inc. has moved its' operations to Scottsdale, Arizona Scottsdale (O'odham Vaṣai S-vaṣonĭ) is a city in Maricopa County, Arizona, United States, adjacent to Phoenix. Scottsdale has become internationally recognized as a premier and posh tourist destination, while maintaining its own identity and culture as " . The above acquisitions will give Future Carz, Inc. leasing operations in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , CA, Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , NV and Mesa and Phoenix, AZ. The issuance of the six million shares for the above transactions will require shareholder approval. We expect to file with the SEC and present this offer to the shareholders by mid-January. For further information kindly contact Edward Heisler at 480/363-3718. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Forward-looking statements in this news release 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 Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this news release that are not strictly historical statements, including without limitation, management's plans and objectives for future operations and management's assessment of market factors, and statements regarding the strategy and plans of the Company and its strategic partners, constitute forward-looking statements. These forward-looking statements are not guarantees of the Company's future performance and are subject to a number of risks and uncertainties that could cause the Company's actual results in the future materially to differ from the forward-looking statements. |
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