News!! EDTA seems to be putting it together. Looks good. What do you think? :
E-Data Corporation and CD World
Corporation Announce Exclusive License Agreement and
Multi-Million Dollar Sale Agreement for E-Data's Freeny
Patents; Subject to E-Data Retaining all Rights to Internet
Transactions
NEW YORK, June 21 /PRNewswire/ -- E-Data Corporation, (OTC Bulletin Board: EDTA -
news) and CD World Corporation today announced that they had entered into an Exclusive License
Agreement pursuant to which, for the balance of 1999, CD World is licensing E-Data's Freeny
Patents as they relate to retail store or public area kiosk applications, specifically excluding Internet
related transactions. The Freeny patents include patents in the United States, Canada and Europe.
CD World will pay E-Data $250,000 in a combination of cash and stock of CD World as
consideration for the Exclusive License for 1999. CD World and E-Data also have entered into a
binding multi-million dollar cash agreement for CD World to purchase the Freeny Patents later this
year. However, E-Data will retain an Exclusive License to the Freeny Patents for Internet related
transactions. E-Data will be seeking shareholder approval for this transaction.
About E-Data Corporation
The primary business of the Company since December 1994 has been the ownership and licensing
of the Freeny Patents. E-Data intends to acquire, license and develop other patents which they will
license worldwide. E-Data Corporation is traded publicly on the NASDAQ Bulletin Board under
the symbol EDTA.
About CD World Corporation
CD World's product line represents the first global, non-Internet, digital distribution system which
allows customers to create their own personal music CD compilation in full CD quality from a
potentially unlimited soundtrack catalogue. CD World Corporation has created for the Music
Industry, the Music Retailer and Customer alike a system of integrated Music Pointa Kiosks, at
which a customer may program his/her own CD from a selection of popular jazz, rap, rock, dance
and classical titles. CD World Corporation has offices in Los Angeles, New York, Geneva, Paris,
and London. It is currently a privately held Corporation and plans to go public later this year.
This press release contains certain forward-looking statements relating to such matters as anticipated
financial performance, business prospects, technological developments, new products, research and
development activities and similar matters. The Private Securities reform Act of 1995 provides a safe
harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the
Company notes that a variety of factors could cause the Company's actual results to differ materially
from the anticipated results of other expenditures expressed in the Company's actual results to other
expenditures expressed in the Company's forward-looking statements.
E-Data, Inc.'s, common stock is traded in the over-the-counter market under the trading symbol,
''EDTA.'' To receive a current Corporate Profile and complete due diligence package on the
Company, please call Fifth Avenue Communications at 1-800-992-6616 or visit their web site at:
stocksfifthavenue.com or e-mail your request to: fifth@juno.com
SOURCE: E-Data Corporation |
