I just purchased this stock today reading their news release yesterday. At .54 this stock seem too cheap.They just announced that they have aquired an option to buy a 51% interst in Lansource Technologies. Look at there web and the news releases on it. Rumour has it a management person from China Online is flying to see the company next week. We will have to see how this plays out.
Power Direct, Inc. Announces Signing of Letter of Intent
BusinessWire, Tuesday, February 16, 1999 at 09:13
BELLINGHAM, Wash.--(BUSINESS WIRE)--Feb. 16, 1999--The board of
Power Direct, Inc. (OTC BB: PWDR) is pleased to announce that the
Company has signed a Letter of Intent and made a sizable
non-refundable deposit to acquire up to 51% of LANSource Technologies
Inc. LANSource has 45 employees and offices in Canada, U.K, and
Germany. LANSource is a leading developer of award winning Internet
and LAN-based fax and data communications software. LANSource's
primary products are WINport, a modem-sharing application and FAXport,
a suite of fax products designed to maximize resources across the
Internet. The Company's products incorporate expertise in Internet,
FoIP (Fax over IP), data communications and networking and are Windows
based ranging in scope from commercial applications, targeted at the
ISP market, to businesses of any size.
WINport, the company's modem sharing software, is the leading
software in its category and is currently available in 12 languages.
Operating on a client server model, this software shares a modem
located on a Windows NT/95/98 PC or a Novell Server with other
workstations located on the LAN.
FAXport, the company's client-server fax software, is currently
available in 4 sub-brands, including FAXport for Windows NT networks,
FAXport for Lotus Notes/Domino, FAXport for Exchange and FAXport for
Thin-Client Computing. This software allows users to send and receive
faxes from their desktop or through their e-mail system. FAXport also
has an Enterprise version that allows companies to set up a Virtual
Fax Network from which to route faxes through the least cost point on
their network. Earlier this year LANSource announced that a new
product FAXport Virtual Fax Networking for Enterprises and Internet
Fax Service Providers join the FAXport family of software for market.
LANSource currently has strategic alliances with Microsoft
(NASDAQ:MSFT), IBM (NYSE:IBM), Hewlett Packard (NYSE:HWP), 3 Com
(NASDAQ:COMS), Brooktrout (NASDAQ:BRKT), Citrix (NASDAQ:CTXS) and
Moreton Bay Ventures, manufacturer of the RAStel Multimodem.
WINport, FAXport and FAXplusCONNECT are distributed worldwide
through Tech Data US, Tech Data Canada, Ingram Micro Canada, Ingram
USA, Ingram UK, Ingram Italy, EMJ Data Systems Canada, EMJ USA,
Merisel US and Micro Central.
The board of Power Direct, Inc. intend to form a wholly owned
subsidiary for the purpose of investing in viable technology and
internet companies. LANSource will be its first acquisition. This
transaction is expected to be finalized within the next thirty days.
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