theglobe.com Completes Sale of SendTec.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla. -- theglobe.com (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : TGLO TGLO Turbine Generator Lube Oil (submarines) ) announced that it has completed the previously announced sale of all the business and assets of its subsidiary, SendTec, Inc. According to Ed Cespedes, president of theglobe.com, "The transaction provided a significant cash on cash return to our shareholders in just over a year and brought back approximately 28.9 million of our outstanding shares, which will be retired." Mr. Cespedes continued, "We continue to be extremely excited about the potential for our other businesses, Tralliance, TGLO and our Computer Games properties. We will continue working towards growing those businesses and creating value for our shareholders." 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. This press release includes forward-looking statements related to theglobe.com, inc. and its subsidiaries, that involve risks and uncertainties, including, but not limited to, risks and uncertainties relating to integration of newly acquired businesses and assets, product delivery, product launch dates, risks relating to the Internet, development and protection of technology, the availability of financing or other capital to fund its plans and operations, the management of growth, market acceptance of our products, our ability to compete successfully against established competitors with greater resources, the uncertainty of future governmental regulation (particularly as it pertains to the Internet), pending 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. , sale of businesses, and other risks. These forward-looking statements are made in reliance on the "Safe Harbor" provisions 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. For further information about these and other factors that could affect theglobe.com's and its subsidiaries future results and business plans, please see the Company's filings with the Securities and Exchange Commission, including in particular our Annual Report on Form 10-KSB for the year ended December 31, 2004 and our quarterly report on Form 10-Q Form 10-Q See 10-Q. for the fiscal quarter ended June 30, 2005. Copies of these filings are available online at http://www.sec.gov. Prospective investors are cautioned that forward-looking statements are not guarantees of performance. Actual results may differ materially and adversely from management expectations. |
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