For the record:
Monday July 26, 8:01 am Eastern Time
Company Press Release
Diversified Resources Group Division Finalizes
Letter of Intent
SARASOTA, Fla.--(BUSINESS WIRE)--July 26, 1999--DRG, Inc., d/b/a Diversified Resources Group, Inc., (Nasdaq OTC BB:DRGI -
news), a Sarasota, Florida based company, announced today that its wholly owned subsidiary, Cordless Power Corporation, has
finalized a Letter of Intent with PrePaid Cellular Solutions, Inc. of Melbourne, Florida.
Under the Agreement, PrePaid Cellular Solutions will purchase cellular telephones and accessories exclusively from Cordless Power
Corporation for distribution to its growing network of prepaid cellular customers.
PrePaid Cellular Solutions, Inc. has multiple prepaid cellular patents that have allowed it to grow to become one of the nations
fastest growing prepaid cellular companies. PrePaid Cellular Solution's current cellular network covers 85% of the United States
making it one of the largest cellular footprints in the industry today.
Cordless Power Corporation is completing the packaging, design and equipment needed to supply the prepaid cellular phones,
leather phone cases, high capacity cellular batteries, and cigarette lighter rechargers for distribution by PrePaid Cellular Solutions,
Inc. to their retail customer network.
''Gross sales are projected to exceed $1,500,000 per month within the first 120 days of the project ramp-up,'' stated Mr. Chris
Beck, President of Cordless Power Corporation.
This press release shall not constitute an offer to sell securities under an exemption from registration pursuant to Regulation D,
Rule 504 of the Securities and Exchange Commission. Statements regarding the company's expectations about new and exciting
products, future financial performance and other forward looking statements are subject to various risks and uncertainties,
including, without limitation, demand and acceptance of new and exciting products, technological advances and product
obsolescence, competitive factors and the availability of capital to finance growth.
Contact:
Diversified Resources Group, Inc., Sarasota
Carl Smith, III, 941/923-1949
Web Site: www.diversified-resources.com |
