NEWS!!
Monday October 11, 8:59 am Eastern Time
Company Press Release
SOURCE: First American Scientific Corp.
First American Scientific Announces Acquisition of
VideoMovieHouse.com to Become a Virtual Video Store
VANCOUVER, Oct. 11 /PRNewswire/ -- First American Scientific Corp. (OTC Bulletin Board: FASC - news; the
``Company') is pleased to announce the acquisition of VideoMovieHouse.com, and all related technology to become a Virtual
Video Store.
First American and C.L. Kantonen have finalized an agreement where FASC will buy 100% control of C.L. Kantonen shares
in VMH VideoMovieHouse.com for the sum of $250,000 US (two hundred and fifty thousand dollars) a company duly
incorporated in the Province of British Columbia, and whereas VMH is the owner of the domain names,
VideoMovieHouse.com, (.net, and .org.,) along with their respective web pages and related Internet Technology. This
Technology will be used in the sales of Videos, DVD'S, CD'S, and all related products, plans, rights to develop a Virtual
Video Rental Store using Video on Demand Technology.
Video On Demand (VOD), according to studies released by Merrill Lynch could generate between $3 Billion and $6 Billion
US annually by 2009. Tests completed by the Cable Companies indicate that delivery of VOD through the cablevision
network could be available within the next two years.
Millions of consumers are surfing the Internet 24 hours a day, looking for the easy and cost efficient way to buy and rent
videos from (video) stores. With competition pushing the envelope to come up with new ideas, the Virtual Video Store has
offered the consumer choices without leaving the house. VideoMovieHouse.com will offer up Videos, DVD's, CD's and
games for sale on this Virtual website, overseeing the billing, shipping and handling for the orders taken on-line through each
client's customized website. ActiveMedia Researcher's sixth annual Real Numbers Behind Net Profits study, shows a growth
rate of 150% up from 72%, while forecasting this percentage for this year and 137% for the next year, all on-line buyers rely
on the Internet for a wider range of goods and services.
First American Scientific Corp., comparing the competition as an example for expected earnings and future prospects and
ideas.
Blockbusters predicts a base of 28 Million VOD users by the year 2009. Videoflicks.com operated by Michael Kavanagh,
now gets about 14 Million hits a month and has become one of the top 25 sites on the Net, his company is selling hundreds of
movies (titles) per day. Video sales and rentals are twice as large as theater box office movie ticket sales, and the sales
revenues now exceed 10 Billion annually. VideoMovieHouse.com, is a wholly owned subsidiary of First American Scientific
MANAGEMENT FOR VIDEO BUSINESS
Mr. Kantonen who has over 20 years experience consulting and providing advice to retail business, will head up the team for
this dynamic Video business. First American through this sub, can uniquely focus the investors attention on the growth
potentials in this sector through the prism of a single Internet company.
KDS TECHNOLOGY FOR MINING
Stated in our last news release August 11th, 99, First American is committed to process 10 Tons of dump material through the
KDS Machine located in Tunusket, Washington USA. This material is believed to contain gold in quartz material, and the test
is designed to see if the gold can be separated at a substantial profit. Once this test is complete, management can also establish
the cost for the full operation of processing tailings from previous mining operations and provide the Company with enough
information to continue finding and developing high grade gold, and precious metal properties.
ON-GOING PROSPECTS
Management is continuing to expand the use for the KDS Technology, and within the Company create subsidiaries to take
advantage of business opportunities around the world.
The management is pleased to announce the appointment of Mr. Ian Scott-Moncrieff for the position of Project Manager for
First American. Ian brings 11 years of portfolio management and market experience, leaving Midland Walwyn-Merrill Lynch
after 10 years as a Registered Representative to be a part of this growing Company. Management believes with this new
position created for Ian, he will be adding priceless value to this Company.
Management will continue to inform the investors when the Company has completed any or all negotiations the Company has
reported.
Certain information and statements included in this news release constitute ``forward-looking' statements within the meaning of
the federal
Private Securities Litigation Reform Act of 1995
SOURCE: First American Scientific Corp. |
