For those of you who may have missed the NR, here it is.
(COMTEX) B: Private Share Purchase Announced by Talk Visual Corporati
B: Private Share Purchase Announced by Talk Visual Corporation Chairman Michael
Zwebner
MIAMI, Nov 4, 1999 (BUSINESS WIRE) -- (OTC-BB: TVCP) TALK VISUAL
CORPORATION's Chairman, Mr. Michael J. Zwebner, issued announced that
the Company has been made aware of private negotiations to purchase,
and to hold for investment, a substantial number of the shares that
were previously issued to consultants and other shareholders.
Mr. Zwebner said, "While I am disappointed that some of the consultants
and other shareholders who received company shares have sold their
shares in TVCP - at historic low prices - I am pleased that a private
group has indicated its intention to purchase and hold up to one
million dollars' worth of shares from these shareholders, and also to
purchase additional shares in the open market."
Commenting on the company's equity history, Mr. Zwebner stated that
"the company's recently completed merger with Videocall International
Corporation created total shareholdings in excess of twenty-four
million (24,000,000) shares. Most of these shares became free-trading
as a result of the S-4 filing. This private group of shareholders
believes that its action will allow the share price to return to a
value more reflective of the company's assets and ongoing business
activities."
Addressing the issues of business development and determination, Mr.
Zwebner added that "millions of dollars have already been injected into
this company - mainly by investors committed to the company's long-term
growth. These investors include some current directors and officers.
Without exception, all of us are determined to build this company. The
company has made great strides in its growth, and continues to build
and expand its operations on a global scale."
Concerning the company's commitment to expansion by acquisition and
videocall center development, Mr. Zwebner commented as follows: "At
this time, the company operates over thirty (30) international
Videocall Centers. The company is currently in negotiations to acquire
other ongoing retail telecommunications operations in order to
significantly expand its global presence. We intend to make certain
that these acquisitions will contribute meaningful additional revenues,
and add to the company's bottom line."
A list of all of Talk Visual's videocalling shops is available on the
company's website at www.talkvisual.com The site describes continuing
international operations and also allows visitors to order a regular
monthly mailing of the company's impressive full-color newspaper. The
third edition of the newspaper is now available.
Talk Visual Corporation (OTC-BB: TVCP) is a pioneer in the video
teleconferencing and video e-mail industry. It is developing thousands
of globally distributed retail facilities to accommodate the growing
video-communications needs of two key market segments: businesses and
expatriate ethnic populations. Talk Visual can be reached toll-free at
1-877-22VIDEO within the United States, or at 305 572-0575 from abroad.
Except for historical information contained herein, the statements in
this release (including without limitation, statements indicating that
the company "expects," "estimates," "anticipates," or "believes" and
all other statements concerning future financial results, product
offerings or other events that have not yet occurred) are
forward-looking statements that are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
Section 21E of the Securities Exchange Act of 1934, as amended, and
Section 27A of the Securities Act of 1933, as amended. Additional
information on these and other factors are included in the company's
Form 10-KSB for the Fiscal Year ended Dec. 31, 1998, as filed with the
Securities and Exchange Commission.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Talk Visual Corporation
Gina Maura
310 348-7263
WEB PAGE: businesswire.com
GEOGRAPHY: FLORIDA MASSACHUSETTS
INDUSTRY CODE: ENTERTAINMENT
COMPUTERS/ELECTRONICS
HARDWARE
BANKING
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