DRYD...not sure if this was posted ealrier.
Dryden Signs Letter of Intent to Acquire e resources, inc.
Business Editors
SARASOTA, Fla.--(BUSINESS WIRE)--Jan. 20, 2000--Dryden
Industries, Inc. (OTCBB:DRYD) announced today that it has signed a
Letter of Intent to acquire e resources, inc., a Delaware corporation.
The Fort Worth, Texas based start-up is in the business of launching
new e-businesses and developing e-commerce platforms for existing
businesses. e resources will provide capital investment, executive
management, back-office operations, sales and marketing expertise,
technical enhancement and fulfillment services for businesses in
exchange for fees and equity positions.
After the completion of the acquisition of e resources, Dryden
will change its name to e resources.
e resources currently has an agreement to acquire CareMart(TM) --
The Home Healthcare Superstore, a Fort Worth based e-commerce site.
CareMart will be the initial company to utilize e resources services
and its fulfillment operations.
Dryden is set to close its purchase of Vista Photographic and
Video in the next two weeks. The e resources acquisition combined with
Vista and CareMart commences a new corporate strategy for Dryden to
focus on Internet commerce. Vista and CareMart will comprise the
initial core companies under the e resources umbrella. After the
merger of e resources, the Company will seek to acquire significant
interests in immature Internet companies and existing businesses that
have synergistic strategies with the Company's core business.
e resources is currently in negotiation to acquire space to house
its corporate offices and fulfillment operations at the Alliance
Business Center in Fort Worth, Texas. This move is anticipated at the
start of the third quarter of this year when the space is completed.
The company is currently utilizing temporary space in the Alliance
area. Vista will relocate its corporate offices, encoding and
streaming operations to the Alliance office. The Vista Video
Production division will move into a new facility in Dallas on
February 1, 2000.
The Company's common stock is traded on the NASD's OTC Bulletin
Board under the symbol DRYD. The Company is pursuing a strategy of
acquiring E-Commerce businesses. |
