Future Carz Inc. Signs Agreement to Pave Way for a Possible Merger with a NASDAQ Qualified Company.Business Editors SCOTTSDALE, Ariz.--(BUSINESS WIRE)--March 7, 2002 Future Carz Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: FCRZ), Thursday announced it has signed an agreement to issue 7 million shares of its restricted common stock to Optimum Investments Inc., a mergers, acquisitions and corporate finance company that specializes in the automotive sector. The deal is contingent upon Adj. 1. contingent upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent Optimum arranging a business combination with a candidate that is NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on qualified or otherwise acceptable to the company. In the interim, Stanley F. Wilson, the owner and president of Optimum, will be appointed as president to attempt to effect the acquisition and to negotiate the settlement of Future Carz's current liabilities Current Liabilities Usually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year. . Edward C. Heisler, current president and chief executive officer, will resign as president, but will remain in the position of CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. until all liabilities have been settled to the satisfaction of the parties. As president, the board has granted Wilson complete control of day-to-day operations of the company. Wilson brings with him many years of experience in the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. as the CEO of both private and publicly traded automotive companies. Upon his graduation from law school, Wilson first worked in Nebraska in the public sector as an assistant city attorney and Governor appointed county court judge. Since 1979, he has been focused and fully engaged in the automotive industry with primary emphasis on the retail sale and finance of new and used motor vehicles. This specialization has taken many forms including a general law practice focusing on the representation of franchised dealers, general counsel to statewide dealer associations, legal counsel to individual dealers and dealer corporations, industry lobbyist and CEO of statewide new car dealers associations (Nebraska New Car & Truck Dealers Association and the Arizona Automobile Dealers Association), and most importantly, president of three publicly-traded automotive holding companies including CEO of sub-prime finance companies both public and private. Wilson received his B.A. degree from Arizona State University Arizona State University, at Tempe; coeducational; opened 1886 as a normal school, became 1925 Tempe State Teachers College, renamed 1945 Arizona State College at Tempe. Its present name was adopted in 1958. and his Juris Doctor The degree awarded to an individual upon the successful completion of law school. Juris doctor, or doctor of Jurisprudence, commonly abbreviated J.D., is the degree commonly conferred by law schools. degree from the University of Nebraska. "Future Carz represents an opportunity for me to use my mergers and acquisitions expertise in the automotive arena to take the company to the next level," Wilson said. "I am in discussions with several automotive candidates that are very interested in the platform Future Carz offers and, depending upon the cooperation of the creditors, am cautiously optimistic that a deal can be done," Wilson added. For further information please call Financial Public Relations Financial public relations Public relations division of a company charged with cultivating positive investor relations and proper disclosure information. at 480/444-0078. 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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