OneSource Technologies Cancels Stock Option Deal
OSTK New Products & Internet High-Speed Wireless Services Make The
Option Pricing Inadequate
(INTERNET WIRE) -- 11/28/00 -- OneSource Technologies, Inc.,
(Electronic Quotation: OSTK) announced today the cancellation of a
consulting agreement the Company had entered into with an investment
firm in June 2000. As part of that agreement, the investment firm
was to receive up to two million shares of OneSource stock at an
option price of $0.50 per share.
OneSource elected to cancel the agreement on the basis of its belief
that a $0.50 per share price inadequately reflected the market price of the
stock going forward in light of the Company's expanded product and service
offering.Further, management concluded that it was unnecessary to engage
consultants at the present time for any transaction involving
issuance of options or free trading shares of the Company (OTCBB:
OSTK.)
One of the most promising of the Company's newest product offerings is
high-speed mobile Internet access. www.1smi.com This technology
allows users to access the Internet via a laptop computer while out
in the field, office, car, home, without a wired connection. The
service makes use of the Ricochet(TM) 128kbps modem: a small,
lightweight, external device that connects to any PC via a USB or
serial port. The applications of this service are virtually
unlimited. Allowing high-speed access to the company's LAN or
Intranet makes pertinent information easily accessible, no matter
where the user might be - whether meeting with clients, waiting at
the airport, or stuck in traffic. The Ricochet high-speed wireless
data company was named the "Best of COMDEX Fall 2000" in the category
of "Services." The announcement was made earlier in November by
wireless data company Meticom, Inc (Nasdaq: MCOM).
High speeds also make the service an attractive choice for those who
don't necessarily need mobility, but desire an alternative to the
long waits, significant commitment, and high prices associated with
the installation of a Digital Subscriber Line (DSL) connection from
suppliers like Covad (Nasdaq: COVD). Cable Internet access, another
high-speed option by companies like @home (Nasdaq: ATHM), isn't
always available and can be expensive as well. OneSource's mobile
service can be an excellent alternative and is available in Atlanta,
Phoenix, and San Diego, while growing to include many other
metropolitan areas across the U.S.
OneSource is engaged in three closely-related and complimentary lines
ofInformation Technology ("IT") business, 1) equipment maintenance
services,2) equipment implementation and integration services, and 3)
value-added equipment and supply sales. Each segment also utilizes
the Internet to facilitate distribution of its service and product
offerings. OneSource is a leader in the equipment maintenance and
service industry and is the inventor of the unique OneSource
Flat-Rate Blanket Maintenance System*. This innovative program
provides customers with a Single Source for all general office,
computer and peripheral and industry-specific equipment maintenance,
integration and supplies products.
Product and Company names mentioned herein are for identification
purposesand may be trademarks or registered trademarks of their respective
companies.
This press release contains forward-looking information within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the safe harbors created
by those sections.
www.1smi.com 866-PIASTORe
E. Helm Drive
Scottsdale, AZ 85260
Investor Relations
website: www.1sourceir.com
investor@1smi.com
Contact: Investor Relations , OneSource Technologies
Phone: 866-PIASTORe
Email: investor@1smi.com
Provider ID: 01020091
-0- Nov/28/2000 13:38 GMT |
