SYME - News aftermarket yesterday, spread is way too big.
(COMTEX) B: Synergy Media Inc. Announces Acquisition of Internet Doma
B: Synergy Media Inc. Announces Acquisition of Internet Domains medicaltalk.com
and medicalhouse.com
INDIANAPOLIS, Aug 18, 1999 (BUSINESS WIRE via COMTEX) -- Dale W.
Conrad, president and CEO of Synergy Media Inc. (OTC:SYME) announced
today that SYME will expand with investments in Internet-based commerce
and it has purchased medicaltalk.com and medicalhouse.com Internet
domain names.
In making the announcement, Conrad stated, "This is a breakthrough
opportunity for SYME to expand its e-commerce business. SYME currently
operates Government Payment Service Inc. (GPS). That company processes
payments made to approximately 180 government agencies throughout the
U.S. Individuals may pay by credit card while speaking to a live
operator or via the Internet. The GPS processing business provides a
good platform for expanding into a broader array of electronic
commerce. We are examining a number of otherInternet initiatives and
expect to pursue a number of opportunities with proprietary technology
and content."
SYME expects to hire a staff and work with physicians and other medical
authorities to develop the site. Separately, SYME restructured its
arrangement with GPS whereby it will own a 51 percent stake in the
company and Conrad will retain 49 percent. Conrad tendered 6 million
shares of his SYME holdings in this transaction. At the present time,
there are approximately 30 million shares of stock committed or
outstanding in SYME. The company is not profitable, has significant
liabilities and certain litigation. There can be no assurance the
company will obtain sufficient capital to fund its operations or to
satisfy outstanding liabilities and othermatters.
Certain information above contains forward-looking statements that may
involve risk and uncertainties. Management believes that its
expectations are based on reasonable assumptions. However, no
assurances can be given that its goals will be achieved. Factors that
could cause actual results to differ materially include, but are not
limited to: change in federal, state and local regulations; new product
introductions by competitors; and changes in telecommunications
regulations or technologies.
Copyright (C) 1999 Business Wire. All rights reserved.
-0-
CONTACT: Synergy Media Inc.
Dale Conrad, 317/216-7888
WEB PAGE: businesswire.com
GEOGRAPHY: INDIANA
INDUSTRY CODE: COMPUTERS/ELECTRONICS
COMED
INTERACTIVE/MULTIMEDIA/INTERNET
TELECOMMUNICATIONS
GOVERNMENT
BANKING
MERGERS/ACQ
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