Global Connections, Inc. Announces Merger as Prelude to Nasdaq Filing
OMAHA, Neb., June 7 /PRNewswire/ -- Global Connections, Inc. (OTC Bulletin Board: GLCO - news), an Internet holding, management and marketing company, announced today that an anticipated merger with Advanced Logic Systems, Inc., d.b.a. AskALBERT.com, is a prelude to a Nasdaq filing.
As part of the letter of intent, GLCO will seek approximately $15 million to fund the AskALBERT worldwide advertising campaign. The overall growth strategy calls for up to $60 million to propel the merged companies over the next three years. Also, the letter of intent gives GLCO the alternative of becoming an equity partner in AskALBERT.com, receiving 10 percent of gross profit proceeds, along with obtaining the exclusive customer service contract.
AskALBERT.com (MICKLETON, NJ) is a web retailer whose objective is to become a leading interactive provider of products, information and services for consumers, businesses and schools. In addition to alliances with Bell Atlantic, IBM, Amway, Microsoft, Lego and Playmobile, AskALBERT.com brings over one million products to the GLCO network, plus Decision Support Software that assists shoppers in live, interactive communication.
''The combination of the merger and the equity position offers a win-win situation for our stockholders,'' said Stephen Bowman, CEO of Global Connections. ''We are working with investment banking organizations with divisions focusing on e-Commerce opportunities. Our current debt load is minimal, so net proceeds will be used to achieve our goals for AskALBERT.com and additional acquisitions, and to provide marketing support for our e-Commerce insurance, health and merchandise subsidiaries and partnerships.''
Global Connections (http://www.glco.com) also operates TheBusinessCampus.com, CampusCommerce.com, GlobalWebDirect.com, GlobalVIPClub.com, and Insurance Benefits Service Association (ibsassn.com). GLCO is focusing on becoming a premiere Internet customer service provider, as reflected in its alliances and marketing agreements with Customer Access Corp., Juggernaut (Juggernaut.com) interactive software, Optimal Health Systems (OptimalDirect.com), GeneLink (bankdna.com), First Harvest.com, Tutornet.com, Nationaltrading.com, CLIXhealth.com and the Anti-aging institute.com.
''At Global Connections, we are positioning to make the Internet proactive through our combination of technology, products, customer service and marketing,'' concluded Bowman. ''We don't care who 'wins' the race for dominance, as long as we are there to serve what is no doubt going to become a multi-billion dollar distribution channel.''
Forward-Looking Statements: This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which provides a new ''safe harbor'' for these types of statements.
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