RushTrade Group and Knobias To Offer Co-Branded Products.Business Editors DALLAS--(BUSINESS WIRE)--March 3, 2003 Rushmore Financial Group, Inc., dba RushTrade Group, (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :RFGI) announced today that it has reached an agreement in principle to form a strategic alliance with Knobias Holdings, Inc., a real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. news and content technology development company. RushTrade and Knobias have each separately developed certain proprietary products, services and real-time direct access technologies which both companies believe would complement each other's product and service offerings. Under the terms of the relationship, both companies will begin the process of entering into a strategic partnership to accomplish one or more of the following initiatives: During the first phase of the relationship, the parties will enter into a Product and Services Exchange and Software License Agreement whereby Knobias agrees to supply RushTrade its "News, Research, Fundamental" and other data in exchange for RushTrade supplying Knobias with RushTrade's "Real Time Charts." The parties will also immediately begin the second phase of the relationship by the formation of a Joint Venture to jointly build, offer and market a Knobias-RushTrade co-branded "top-line" product to serve the institutional marketplace. Both RushTrade and Knobias believe that this co-branded product would compete effectively within the Institutional Marketplace. The NEW RushTrade/Knobias joint venture product to the Institutional Marketplace will include: -- Real Time Market Data including Level I/Level II, Dynamic Charts, etc. -- Block Trades, Basket Trades and many more features -- Direct Access Trading Platform -- Customizable Desktop -- Public Company Fundamental Data including Tear Sheet, History, PDF Reports, etc. -- Real Time News and Alerting -- Earnings, Guidance, Critical Corporate Actions, Real Time Filings, Trading Alerts, Coverage Alerts, etc. -- Earnings and Conference Call Calendars -- Expanded Institutional Holdings and Earnings Estimates A more detailed description of the NEW RushTrade/Knobias product will be announced in the coming weeks. Details of the agreements or transactions described herein will be subject to the execution of definitive documents which is expected to be executed by the parties on or before March 15, 2003. The parties will also begin discussions regarding a potential combination of the two companies through a possible merger, acquisition or similar transaction. D. M. (Rusty rust·y adj. rust·i·er, rust·i·est 1. Covered with rust; corroded. 2. Consisting of or produced by rust. 3. Of a yellowish-red or brownish-red color. 4. ) Moore Moore, city (1990 pop. 40,761), Cleveland co., central Okla., a suburb of Oklahoma City; inc. 1887. Its manufactures include lightning- and surge-protection equipment, packaging for foods, and auto parts. , Jr., 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. of Rushmore Financial Group, Inc., said, "We are very pleased to announce this affiliation with Knobias. They bring enhanced news, content and research capability to our customers and active traders Traders Individuals who take positions in securities and their derivatives with the objective of making profits. Traders can make markets by trading the flow. When they do this, their objective is to earn the bid/ask spread. and portfolio managers and will strengthen our product offering in the marketplace." Key Ramsey Ramsey, residential borough (1990 pop. 13,228), Bergen co., NE N.J.; settled 1846, inc. 1908. Dairy and truck farms are in the area. , CEO of Knobias Holdings, Inc., said, "We are excited to be aligned with RushTrade Group and to obtain access to their RushTrade real-time Level II market data and RushTrade's direct access trading Direct access trading is a technology which allows stock traders to trade directly with market makers or specialists, rather than trading through stock brokers.[1] platform. We believe that RushTrade will give us the opportunity to provide a 'turn-key,' 'one stop' delivery capability and a greater competitive edge to our institutional customers and traders." The Company is headquartered in Dallas Dallas, city (1990 pop. 1,006,877), seat of Dallas co., N Tex., on the Trinity River near the junction of its three forks; inc. 1871. The second largest Texas city, after Houston, and the eighth largest U.S. , and its common stock is traded on the OTCBB Market under the symbol "RFGI." To visit RushTrade go to www.rushtrade.com and to visit Knobias go to http://www.knobias.com. This press release includes statements that may constitute "forward-looking" statements, usually containing the word "believe," "estimate," "project," "expect" or similar expressions. 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. inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's product and services in the marketplace, competitive factors, changes in regulatory environments, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. For further information, please contact: Investor Relations Investor relations The process by which the corporation communicates with its investors. at 972/450-6000. |
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