ClearWorks.net Cancels Consulting Agreement With
Castle Development, LTD.; Cancellation of Contract
Will Guarantee 500,000 Shares Will Not Enter the
Market
August 30, 1999
HOUSTON--(BUSINESS WIRE) via NewsEdge
Corporation -- Houston based ClearWorks.net Inc.
(OTC BB:CLWK), today announced that a
consulting contract with Castle Development, LTD
(Castle) was cancelled as of June 7, 1999. The
cancellation of this contract will insure that 500,000
shares of stock (originally issued as
options/warrants) have been canceled and now have
no possibility of entering the market and diluting the
common shares outstanding.
ClearWorks.net pre-wires new and existing homes,
apartments, schools and commercial building with
fiber-optic networks, enabling them to receive the
latest computing and telecommunications
technology. ClearWorks.net is also a pioneer in the
concept of Bundled Digital Services (SM) and
providing Fiber To The Home (FTTH) and is on the
leading edge of a trend to increase Internet
bandwidth to consumers of all types nationwide.
New high bandwidth Internet applications such a
high-resolution video security systems, IP video
streaming, video on demand, and video conferencing
will be supported by their fiber-based access.
ClearWorks.net's fiber optic Bundled Digital
Services, (SM) provides subscribers with Internet
connections at a bi-directional speed of up to 100
megabits per second, which is 2,000 times faster
that with a 56K modem dial-up connection. They
also include digital telephone service with all the
features like voice mail and caller ID and digital
cable TV with no channel limitations, on-demand
video rentals, closed-circuit security capabilities,
and a community Intranet.
Certain statements in this release are
forward-looking. Although ClearWorks.net (the
Company) believes its expectations are based on
reasonable assumptions within the bounds of its
knowledge of its business and operations, there can
be no assurance that actual results will not differ
materially from its expectations. Tech Technology
Services, L.L.C. (TTS) is a public relations firm
employed by the Company. Statements and
opinions presented here represent the views of the
Company, not TTS, as the release is based on
information provided by the Company. TTS and the
Company believe that all information in this release
has been obtained from sources considered reliable,
but cannot guarantee that the statements presented
herein are accurate or complete. TTS and its
employees can have a position in the securities of
the companies in which it distributes information for
media use, and may be buying or selling securities
in the course of its regular business.
<<Business Wire, 08-27-99, 08:01 Eastern>>
CONTACT: Tech Technology Services, L.L.C.,
Houston | Glenn Gagnon, 713/334-2595 | Email:
ggagnon@clearworks.net |
