Also DMEC news...
e-DMEC Announced It has Entered Into Negotiations to Acquire Jade Capital Group
Business Editors
CERRITOS, Calif.--(BUSINESS WIRE)--June 30, 1999--Diamond
Entertainment dba e-DMEC, Inc. (OTC:DMEC), in the business of
distributing and selling general merchandise, announced today it has
entered into negotiations to acquire Jade Capital Group who is in the
process of creating three (3) financial service websites to offer
financial services to small to medium companies in the areas of IPO's,
Venture Capital Private Placements, and Debt Financing. The Company
expects to successfully conclude its negotiations within 45 days and
plans to acquire Jade Capital through the exchange of its restricted
stock with those of the acquired company.
"Sales over the Internet have evolved at an alarming rate-from
$2 billion in 1996 to $19.2 billion in 1998, according to Forrester
Research, of Cambridge, Mass. They estimate that e-commerce sites will
generate revenues of $100 billion this year and $251 billion in 2000,"
stated James Lu, e-DMEC's CEO. "This newest development is a landmark
in e-DMEC's aggressive direction to become a fully functioning
e-commerce company. In establishing its online services, e-DMEC will
also offer financial services to businesses which will expand e-DMEC's
share of the e-commerce market and will also assist in its future
alliances and acquisitions."
The Company has filed for a 15 day extension to file its year
ending March 31, 1999, 10KSB with the Securities and Exchange
Commission. e-DMEC expects to file its 10KSB within the next 15 days
and will be current and in compliance with its SEC filing
requirements.
e-DMEC has announced a delay in its official release and
launching date of its Website to complete its final review of its
structure and contents. As the result of adding new products and the
proposed acquisition of new website services, the Company is revamping
the Website contents and structure for the continuity required for
e-commerce business. The Company will announce the official release
date when the final review is completed and the e-commerce site has
passed all tests in order to ensure quality assurance and safety for
its clients.
e-DMEC's e-commerce site is e-dmec.com
As further developments conclude in our aggressive on-going plan
for new products, alliances and acquisitions, e-DMEC will make timely
new releases to keep the investment community informed. e-DMEC would
like to thank its shareholders for their support as e-DMEC evolves
towards being an upcoming major multi-product & services company in
the e-commerce sector.
Safe Harbor Act Disclaimer: This release may contain
forward-looking statements that involve risks and uncertainties,
including, without limitation, continued acceptance of the company's
products and services, increased levels of competition, new products
and technological changes, the company's dependence upon financing,
third-party suppliers and intellectual property rights, and other
risks detailed from time to time in the company's federal filings,
annual report, offering memorandum, or prospectus.
--30--SL/na*
CONTACT: Marketex, Atlanta
Gary Swancey, 770/389-5645
marketex.net
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED ENTERTAINMENT
INTERACTIVE/MULTIMEDIA/INTERNET MERGERS/ACQ
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URL: businesswire.com
Jun-30-1999 06:20 GMT
Symbols:
US;DMEC
Source BW Business Wire |
