WealthHound.com Signs Merger Agreement With Broker-Dealer WAP, Inc.Business Editors
NEW YORK--(BUSINESS WIRE)--Sept. 12, 2000
WealthHound.com, Inc. (NQB NQB National Quotation Bureau, Inc (now Pink Sheets) : WLTH) announced today that its wholly-owned subsidiary, WealthHound Securities, Inc. has entered into a merger agreement with WAP (1) (Wireless Access Point) See access point.
(2) (Wireless Application Protocol) A standard for providing cellular phones, pagers and other handheld devices with secure access to e-mail and text-based Web pages. , Inc., an authorized and registered broker-dealer and a member of the National Association of Securities Dealers National Association of Securities Dealers (NASD)
Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. , Inc. ("NASD NASD
See: National Association of Securities Dealers
See National Association of Securities Dealers (NASD). ") and the Securities Investment Protection Corp. ("SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. ").
The closing of the merger agreement is subject to various conditions, including WAP, Inc. obtaining NASD approval to expand its business operations, WAP, Inc. entering into an agreement with a clearing firm, and WAP, Inc. obtaining NASD approval of the merger.
"Once completed, the acquisition of WAP, Inc. will allow us to offer our customers securities trading services through a wholly-owned broker-dealer subsidiary of WealthHound. This acquisition will give WealthHound greater flexibility in determining the commission price per trade and is an important step in our plan to become a full service financial services company," said Michael D. Farkas, Chairman and 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 WealthHound.
WAP, Inc. is a New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of corporation owned 100% by Wolf A. Popper. Mr. Popper will remain as a consultant to WealthHound after the closing of the merger. Mr. Popper has more than 40 years of experience in the financial services industry having served on a number of advisory boards including Chelsea National Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007. The bank now continues under the new name of The Bank of New York Mellon Corporation. , Financial Services of America, Inc., Financial Advisory Board of Iona College, the Task Force of the Society for Financial Counseling, the International Association of Financial Planners and the Planned Giving Professional Advisory Committee of Mt. Sinai Hospital.
WealthHound is an award winning personal financial services site which currently includes online stock trading for a flat fee of $14.95 per trade through RichMark Capital Corporation and live customer support; insurance quotes and policies through Quotesmith.com(TM) (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 : QUOT); mortgages through MortageIT.com; and shopping at over 130 e-tailers. WealthHound also features a Wireless stock Quote Application for Palm Inc.'s (NASDAQ: PALM) Palm VII(TM) wireless connected organizer, and plans to add more wireless applications in the near future, including a wireless trading platform. The site also includes a unique feature where Fed watchers can gauge the direction of interest rates by keeping abreast of the news about, speeches by and interviews with key government and business leaders. The site is located at http://www.wealthhound.com.
This press release contains information that may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although WealthHound believes that the expectations reflected in the forward-looking statements and assumptions upon which forward-looking statements are based are reasonable, it can give no assurance that such expectations and assumptions will prove to be correct.