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(BSNS WIRE) Jones Naughton Entertainment to Formally Change Name to Go O
Jones Naughton Entertainment to Formally Change Name to Go Online Networks
Corporation; Shareholders Vote Overwhelmingly for Name Change and
Re-Incorporation
Business Editors
LOS ANGELES--(BUSINESS WIRE)--Sept. 14, 1999--Jones Naughton
Entertainment, Inc. (OTC BB: JNNE), today announced that, during the
special shareholders' vote on Sept. 8, 1999, shareholders approved the
Company's proposed name change to Go Online Networks Corporation, and
further approved the Company's proposed re-incorporation in the state
of Delaware.
Subsequent to shareholder approval, Jones Naughton submitted
several new ticker symbol selections to NASD for review. The Company's
name and ticker symbol changes will be effective within the next few
weeks.
Joseph Naughton, Chairman of Jones Naughton Entertainment, spoke
about the Company's commitment to its Internet direction saying:
"These changes will serve to lock in our identity as an
Internet-driven business. Our focus now will be to fully exploit the
potential of our GoOnline Kiosk, ShopGoOnline and Auctionomics
Divisions."
Mr. Naughton concluded: "It was a profound pleasure to meet with
a number of our shareholders who believe in what we are working hard
to accomplish. I can assure those who could not make the meeting that
we are making every effort to bring added value to their investment in
our future."
The meeting was attended by more than 50 shareholders, including
one shareholder of record from Brussels, Belgium, and more than 12
shareholders from out of state.
James Cannon, Director of Operations for the Go Online Kiosk
Division, announced that, at the time of the meeting, the number of
signed agreements with hotels and motels throughout the country had
grown to 175. He also informed the shareholders that all but two of
these contracts are for four-year terms, and that the company has
signed its first agreement in Canada. "Hotel and motel operators in 35
states, and now in British Columbia, have committed to our Internet
Kiosk service," said Mr. Cannon.
Representatives of both Icom Networks and Info Touch Technologies
attended the meeting, displaying a working prototype to shareholders
of the actual Internet Kiosks being installed by the Company. Mr.
Hammed Shahbazi, President and CEO of Info Touch Technologies,
attended the meeting, telling attendees his company had completed 25
installations for Go Online prior to the meeting. Mr. Cannon said the
two vendors had installed a total of 42 units and he expected 50 more
units would be installed by the end of the month.
Reporting Update
Jones Naughton Entertainment also announced it is nearing
completion of its financial audit and will make its financials
available to the public within the next ten days. Audited financials
for 1998 and the first six months of 1999 are also available by either
contacting the Company's Investor Relations Representative or by
contacting the Company's Corporate Offices directly.
Additionally, the Company's business plan outlining Go Online
Networks expanding growth strategy is now available by visiting the
Company's Web site at jnne.com .
About Jones Naughton Entertainment, Inc.
Jones Naughton Entertainment, Inc. is an information technology
concern focused on combining traditional marketing methods with the
latest advancements in Internet technology. Through its GoOn-line
Division, Jones Naughton provides interactive Internet, advertising
and media buying services to a growing number of clients across the
country.
GoOn-line has also begun installing Internet kiosks in various
hotels and is aggressively pursuing kiosk agreements with a number of
national hotel chains.
Jones Naughton's subsidiary, GoOn-line.com (a Chico, California-
based Internet company specializing in the production of streaming
video infomercials over the Internet) offers Internet products and
services to consumers via E-commerce solutions available on the World
Wide Web. GoOn-line.com has launched www.ShopGoOnline.com , a virtual
shopping mall Web site featuring a wide variety of products, some of
which have traditionally only been available from infomercial
companies advertising on broadcast television.
Jones Naughton's growing list of Internet service and e-commerce
suppliers and partners includes: Icom Networks, Inc.; Nicom
Telemanagement, Inc.; DoubleClick, Inc. (Nasdaq: DCLK); Guthy-Renker,
Inc.; RealNetworks, Inc. (Nasdaq: RNWK); LinkShare Corporation; PDQ
Internet Services, Inc.; Website Results, LLC and Info Touch
Technologies.
This press release contains forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Act of 1995. Expression of future goals and similar
expressions reflecting something other than historical fact involve
risks and uncertainties. The actual results the company achieves may
differ materially from any forward-looking statements due to such
risks and uncertainties.
--30--MG/dx*
CONTACT: Jones Naughton Entertainment, Inc.
Joseph Naughton, Chairman
714-736-9888
Web site: www.jnne.com
e-mail: joejeni@aol.com
or
PMR and Assoc.
Patrick M. Rost, Investor Relations
760-942-0015
e-mail: PMRandCO@AOL.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: ENTERTAINMENT COMED COMPUTERS/ELECTRONICS
INTERACTIVE/MULTIMEDIA/INTERNET PUBLISHING RETAIL TRAVEL/AIRLINES
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