PR Newswire
November 13, 1998, Friday
SECTION: Financial News
DISTRIBUTION: TO BUSINESS EDITOR
LENGTH: 174 words
HEADLINE: ZZAP.NET Shareholders to Receive Stock, Company to Receive Cash
from Initial Sub-License of Streaming Video Rights
DATELINE: DAYTONA BEACH, Fla., Nov. 13
BODY:
ZZAP.NET, INC. (OTC Bulletin Board: ZZNT) and Corsaire, Inc. (OTC Bulletin
Board: SNBD) have entered into a Letter of Intent in which ZZAP agreed to grant
Corsaire an exclusive worldwide sub-license for ZZAP's streaming video products
in the adult market.
ZZAP shareholders shall receive (and distribute on a pro-rata basis) shares
of Corsaire, and ZZAP is to receive cash at closing, which is to take place
within 30 days.
ZZAP has recently acquired two licenses that will allow it to deliver vastly
superior streaming video than its well-known competitor, RealPlayer.
"The company's streaming video technology is far superior to
RealPlayer's version in viewer size, speed and compression," said ZZAP's
President, Michael Cimino. "We expect this to be the first of many such
arrangements with key strategic partners."
The preceding announcement may contain statements and projections which are
forward-looking in nature. Actual results could materially differ from
the projections.
SOURCE ZZAP.NET, Inc.
CONTACT: Michael Cimino, ZZAP.NET, 904-258-8111, ext. 221
LANGUAGE: ENGLISH
LOAD-DATE: November 14, 1998
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