Printer Friendly

Lone Wolf Completes Acquisition of

Business Editors


Lone Wolf Energy Inc. (Symbol:LWEI) announced today it has signed a binding definitive agreement and the acquisition of is scheduled to close on Thursday, May 11, 2000. will become a wholly owned subsidiary for LWEI. Terms of the deal include the issuance of 100,000 shares of Lone Wolf's Common Stock, with additional shares potentially being issued, if certain subscription objectives are reached.

An online communications hub for subscribing churches, enables members to be in control of updating and publishing their own information such as listing family members, family pictures, addresses, phone numbers, e-mail addresses, occupations and church activities. It also enables intricate Web-based communications between members, churches, organizations, institutions, denominations and missionaries.

On April 17, 2000, Lone Wolf announced that Dr. Bobby Boyles would be's president and chief operating officer. Dr. Boyles has been a featured speaker at three annual Southern Baptist worldwide conventions and was the national chairman of the Committee on Nominations for the 15 million-member Southern Baptist denomination. In addition to having hosted a Trinity Broadcasting Network TV program, he has authored five inspirational books. Dr. Boyles has been a pastor of four fast-growing churches and has been a very sought-after speaker worldwide, having spoken at more than 500 churches.

According to published reports, the Christian denominations, which had 241 million members in North America in 1990, will grow to have 262 million members by the end of 2000. "The potential for is significant," said Dr. Boyles. "The power of the Internet provides an extremely effective communications platform enabling church ministries to touch the lives of millions and millions of people."

" is being structured in such a manner to enable it to not only be a strong communications resource for churches, denominations and other ministries, but to also be an important revenue-generating subsidiary for Lone Wolf," said Marc W. Newman, Lone Wolf's president. "In some ways,'s business model structure can be compared to successful Internet companies, which also are subscription-driven, with important advertising and e-commerce revenue centers."

"Our goal is for to become the most important Internet media provider in the church sector," states Dr. Boyles. "There are approximately 500,000 churches in North America.'s long-term objective is to sell subscriptions to approximately 10% of the churches. For that reason, the revenue center from subscriptions will be a central part of the income for" also plans to have an advertising-based revenue center, and will share a portion of its affinity advertising-generated income with its subscriber churches. Both national and local Internet-driven advertising will be sold to carefully targeted accounts. Accordingly, the advertising-related profit center for is projected to be an essential revenue producer. will also have an e-commerce revenue stream. will be positioned to be an important e-commerce medium for the marketing of goods and services to its family-oriented demographic group. A central part of its plan is for other Lone Wolf subsidiaries to successfully utilize the e-commerce infrastructure as a marketing network. E.P. Distributing plans to sell its nutritional and vitamin products to users and is developing proprietary new vitamin products specifically for this market. In addition, E.P. Distributing can serve as a fulfillment center for other advertisers using the e-commerce channel. Through its relationship with Zenex Communications, will be offering churches and their members who are business owners attractively priced telecommunications services. The savings from utilizing Zenex's services will be used to offset a church's monthly subscription costs to In addition, the subscribing church will receive a percentage of these telephone revenues. The e-commerce-oriented profit center, as a result, is projected to generate incremental revenues for, as well as its parent, Lone Wolf, and its other subsidiaries.

Another vital profit center for is a private label Internet dial-up service with custom-developed content filtering for this particular market. will have what is planned to be the best filtering service related to objectionable materials such as explicit adult content, pornography, violence, profanity, racism, bombsites, and other undesirable Web subject matters. This state-of-the-art access control system will be offered to members of subscribing churches.

Several additional revenue centers for are under development, and are planned to be brought online as soon as the R&D development phase has been completed.

Dr. Boyles reports that plans for the in-church beta testing of the system are going very well, with the number of churches requesting being used as a test site reaching 37, primarily through word-of-mouth contacts. This significantly over-subscribes the initial test, which is planned to be in approximately six locations that meet various criteria.

Forward-Looking Statements

Statements about the Lone Wolf's future expectations, including future revenues, earnings and transactions, as well as all other statements in the press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Lone Wolf intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, Lone Wolf's actual results and other corporate developments could differ materially from that which has been anticipated in such statements.
COPYRIGHT 2000 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:May 9, 2000
Previous Article:Calian Technology Ltd. Reports Record Second Quarter Results: Revenues Increase 36% to $31.4 Million for the Quarter.
Next Article:Calian Announces Promotion of Shaun McEwan to Role of President and CEO.

Related Articles
FCC stops Alaska's aerial wolf hunt.
Ken Blanchard.
'Growth Traps' Can Hurt Recovery.
The Man Who Walked to the Moon.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters