Printer Friendly

Presidents Telecom, Inc. Enters Letter Of Intent To Merge With Reporting Company.

Business Editors & Technology Writers

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--March 15, 2000

President's Telecom, Inc. (OTCBB:PRTEE) announced today that the Company has entered into a letter of intent to merge with Central America Fuel Technology (CAFT), a 1934 Act reporting company.

As a result of the intended merger, the current stockholder of CAFT would become a stockholder of PRTEE. Pursuant to the merger, and under the provisions of Rule 12G of the Securities and Exchange Act, PRTEE will assume the reporting obligations of CAFT by electing successor issuer status. This will cause PRTEE to become a reporting company. Combined financial statements of CAFT and PRTEE then will be required to be completed within 75 days from the date of merger, and attached to the Company's 8-K filing.


Presidents is a dynamic development stage company on the threshold of entering into an exciting operations phase, poised to play a leading role in the Telecom industry world-wide centered on the latest technologies in the fast-paced, highly profitable global telecommunications marketplace. Presidents' corporate vision is to take full advantage of the explosive growth in digitized telecommunications, by participating in the development and delivery of telecom and e-commerce solutions utilizing state-of-the-art platforms and technologies. Among the company's major emphases is building and managing a leading consortium of the highest quality Voice over Internet Protocol (VoIP) networks having a significant market share of long distance traffic.

This news release may contain certain forward-looking statements with respect to operations and business, the results of which could differ materially from those discussed. Risks and uncertainties are detailed in reports that are filed with the Securities and Exchange Commission by the Company.
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:Mar 15, 2000
Previous Article:AirBoss Announces Record 1999 Year End Results.
Next Article:Avista Corp. Hires Russell to Manage its Defined Benefit Plan.

Related Articles
Organic Food Products, Inc./Spectrum Naturals, Inc. to Merge.
Infocon America Corp. and Impresso Inc. merge.
Conor Pacific Announces Proposed Merger With SECOR.
Carnegie International and Paramount Subsidiary to Acquire Federation of Associated Health Systems, Inc.
Nova Signs Letter of Intent for $2 Million Sale of Subsidiary.
Lignin Announces a Letter of Intent to Merge with Screen Giant Media Corp.

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