S.W, OSCR GREAT NEWS: OSCM-One Stop.Com Sells e-Commerce Unit to AMCI International For Cash and Stock...
PLAINVIEW, N.Y., Oct. 28 /PRNewswire/ -- OSCM-One Stop.Com Inc.
(OTC Bulletin Board: OSCR) a communications company specializing in
e-commerce, IP telephony and CTI applications today announced the sale of its
e-commerce unit to AMCI International, Inc. (OTC Bulletin Board: AMMN), a
fully reporting 12g company. AMCI International will formally change its name
to shopss.com, Inc.
The OSCM unit sold consists of shopss.com, a virtual shopping mall that
enables committed shoppers to purchase a variety of consumer goods,
electronics and books via the Internet, and CCM Computer Accessories, Inc.,
which assembles computers and owns and operates customer fulfillment centers
that function as warehouses and shipping facilities for products ordered on
the virtual mall.
"With the tremendous growth in both our e-commerce and telecommunications
divisions, it became apparent that members of investment community were
interested in separately financing the growth of each respective divisions,"
said Rami Adler, CEO of OSCM One-Stop.Com. "Therefore, to accommodate this
fiscal reality, the divestment of shopss.com and CCM Computer Accessories to
AMCI was the logical next step."
Pursuant to the Assets Purchase Agreement, in exchange for the OSCM
assets, AMCI will issue 2,207,898 shares or an amount equal to approximately
sixty percent (60%) of its post closing outstanding common stock and pay cash
of $5 Million, of which $1 Million has been paid, $1 Million will be paid by
December 31, 1999 and $3 Million by January 2, 2000. The cash payments are to
be made from the proceeds of a $25 Million equity investment in AMCI
International for which AMCI has received a firm commitment. The outstanding
post-agreement shares of common stock will be a forward split on the basis of
5.435034 for one, resulting in 20,000,000 post-split and post-agreement
outstanding shares of AMCI's common stock. The $25 Million funding to AMCI,
will be made in exchange for 2,000,000 post split shares of AMCI
International, Inc.
The statements in this release regarding products and revenues are
forward-looking and subject to risk and uncertainty, and future results could
differ materially from past performance. The Company is currently in the
process of completing a 10-SB to be filed with the SEC. It is the Company's
intent to file those documents for the Company to become a fully reporting
company under the Securities Exchange Act of 1934.
SOURCE OSCM-One Stop.Com
-0- 10/28/1999
/CONTACT: James H. Post of Edelman PR Worldwide, 212-704-4473, or
jim_post@edelman.com, for OSCM-One Stop.Com/
/Web site: shopss.com
oscm.net
(OSCR AMMN)
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