Pacific Webworks Announces Highlights of Conference Call.Business Editors/Hi-Tech Writers SALT LAKE CITY, Utah--(BUSINESS WIRE)--Jan. 5, 2000 Pacific Webworks (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :PWEB) summarizes the highlights of yesterday afternoon's conference call. During 2000, the revenues grew nearly 14 fold while showing increased earnings each quarter. Management believes first quarter 2001 will show the highest revenue ever and should be break even or show slightly positive earnings, excluding non-cash events like the amortization and goodwill for the acquisition of Logio and Intellipay. Second quarter should show profitability and positive cash flow. Pacific Webworks expects the newly launched V4 product, with several competitive advantages, to help grow Pacific Webworks annual sales by about 150%. Intellipay, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Pacific Webworks currently accounts for about 25% of the parent companies revenues. This will be partially accomplished through previously signed deals with Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. and Bowstreet that should begin their revenue streams during the first quarter of this year. Also the XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. ability of the software is opening several doors and should allow them to sign many new contracts. The Logio acquisition (OTCBB:LGIO) will be voted on by Logio shareholders on January 31st and should close in 1st quarter. The technology will be included in Pacific Webworks product and should start generating revenue by the end of the year. The acquisition was completed not only for Logio's technology but also for their state-of-the-art infrastructure (Cisco routers, Sun Micro platform, etc.) and to incorporate some of their top management, which has significant experience with public companies. Ken Bell has been brought in to formulate the long-term vision of Pacific Webworks and address future capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. as necessary. Mr. Bell's addition will allow Christian Larsen, to concentrate more on his strengths, vision and implementation and less on the financial and administrative aspects of the business where he will defer to people with stronger backgrounds in this area. President Christian Larsen states, "Increasing shareholder value is our No. 1 priority. Accomplishing this is a two-part project. First we need to grow our revenue, earnings and cash flow. Secondly we need to communicate this on a more regular basis to shareholders. In 2001, both of these will be accomplished." About Pacific WebWorks and IntelliPay Pacific WebWorks, Inc. engineers business software technology for the Internet based on their proprietary source code. The company's premier product, Visual WebTools(TM), allows businesses to create, manage, maintain and edit a web site by and for themselves without the costs and time delays traditionally associated with this process. The user of Visual WebTools(TM) can make changes and additions to their web site instantly 24 hours a day, seven days a week. Pacific WebWorks is a Microsoft Certified Solution Provider and a Compaq Solutions Alliance Partner. IntelliPay, Inc., a Pacific WebWorks, Inc. company, provides online, secure and real-time payment processing services for thousands of businesses of all sizes. IntelliPay serves customers such as Ecast, Inc., OlanMills(R).com, NetTaxi(TM), LicenseMusic.com(SM), Network ICE(TM) and Foundry Networks Foundry Networks is a network system vendor selling high-end managed ethernet switches and routers. The company was founded in 1996 by Bobby R. Johnson, Jr. and is based in Santa Clara, California, USA. , Inc. (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 : FDRY - news), OnAir.Com, and other innovative businesses. IntelliPay has direct, secure connections to National Data Corp. - NDC NDC National Drug Code NDC NATO Defense College NDC National Documentation Centre (National Hellenic Research Foundation, Athens, Greece) NDC National Dairy Council NDC National Democratic Congress Ecommerce (NYSE NYSE See: New York Stock Exchange :NDC - news), First Data Corporation Nashville (NYSE:FDC FDC - Floppy Disk Controller - news), Vital (VisaNet), NOVA (NYSE:NIS Niš or Nish (both: nēsh), city (1991 pop. 175,391), SE Serbia, on the Nišava River. An important railway and industrial center, it has industries that manufacture textiles, electronics, spirits, and locomotives. - news) and First Tennessee Bank. For more information on IntelliPay, visit www.intellipay.com. The above statements regarding this announcement that are not purely historical are forward-looking statements within the meaning 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, including Pacific WebWorks, Inc. beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to Pacific WebWorks, Inc. as of such date. It is important to note that actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative and marketplace changes. |
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