InvestAmerica Inc. Reports on Listing Status.Business Editors PARK CITY, Utah--(BUSINESS WIRE)--Feb. 18, 2002 InvestAmerica Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :INVT INVT Inventory (usually seen as INV) INVT Invite ) today announced that it will not file it's annual audited 10K report by Feb. 19, 2002, the deadline for filing in order to maintain it's listing on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC-BB system. Effective Feb. 20, 2002, InvestAmerica will be quoted on the NASD OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Pink Sheets. Brian Heard, 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. InvestAmerica, stated, "InvestAmerica has not been able to raise the short term operational funding necessary to compete our annual audit. InvestAmerica has a commitment for $500,000 in funding that is contingent on the audit and filing being completed. We are continuing to seek immediate funding of $100,000 to complete this process. "Shareholders wishing to participate in the current fund raising are asked to contact Doug Thomas, investor relations Investor relations The process by which the corporation communicates with its investors. ." Proceeds from the above $500,000 funding will be used to complete a Joint Venture for transport of voice minutes to Asia. This is part of the previously announced Wisenet acquisition which is being restructured into smaller components which will be completed if and when we are able to arrange the necessary financing. The initial Joint Venture, if completed as planned, will provide InvestAmerica with up to $4.8 million in annual revenue and up to $600,000 in annual gross profit. Statements about the company's future expectations and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Exchange Act 1934, and as the term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. The company intends that such "forward-looking statements" be subject to the safe harbors created thereby. Since these statements involves certain risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. |
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