Daily volume has increased significantly over the last week. Recent press release shows PXSCD is going into the e-commerce business. Information is difficult to obtain. Although, important news announcements are suppose to commence next week.
Shares outstanding 14,000,000
Float 500,000
Anyone with more information?
Company Press Release
Phoenix Summus Has Entered Into a Letter of Intent to Acquire E-Comm Processor i-Transaction.Net
NEW YORK--(BUSINESS WIRE)--Sept. 30, 1999--Phoenix Summus Corp. (OTCBB:PXSCD - news) has announced that it has signed a letter of intent to acquire i-Transaction.net, Ltd., a global processor of e-commerce transactions.
i-Transaction.net uses high-bandwith Internet connections to electronically process financial transactions for various companies engaged in e-commerce, credit card, and other financial transactions. The details of the consideration will be disclosed pending due diligence and execution of final agreements and is expected to be completed by Friday October 8th.
``We are very excited by the anticipated addition of i-Transaction.net,' said David Bruce, Director of Phoenix Summus Corp. ``i-Transaction.net will allow us to offer a vertically integrated electronic commerce solution to our customers.'
Phoenix designs, develops and deploys business-to-business and consumer-to-business e-commerce solutions in addition to acting as the back-end transaction processor for these systems. Phoenix offers EDI, electronic funds transfer, and advertising and marketing database support. Within the next nine months, Phoenix expects to offer an extended e-commerce product line that will include an online grocery shopping service and an online Healthcare facility. The online grocery shopping will encompass both shopping by consumers and direct ordering by retailers from distributors. The health and wellness product will use the power of the internet to link worldwide buyers and vendors of medical supplies. Healthcare providers and suppliers alike will be able to buy and sell on-line in a unique, secure environment.
The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of the company; the occurrence of which involves certain risks and uncertainties that could cause the company's actual results to differ materially from expected results. Such risks include the timing of implementation and the scope and success of the program described here.
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Contact:
Phoenix Summus Corp.
Lisa Nolan, 407/581-0307
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More Quotes and News: Phoenix Summus Corp (OTC BB:PXSCD.OB - news)
Related News Categories: computers, internet
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Uptickin |
