(COMTEX) B: Desert Springs Acquisition Corp. Announces Acquisition of
B: Desert Springs Acquisition Corp. Announces Acquisition of Woodcomm
International Inc.
DALLAS, Jan 4, 2000 (BUSINESS WIRE) -- Mark T. Wood, President of
Woodcomm International Inc. ("Woodcomm"), Tuesday announced that
Woodcomm has been acquired by Desert Springs Acquisition Corp.
(OTCBB:DSAC).
Under the terms of the Plan of Reorganization and Acquisition that has
been approved by the shareholders of each of the companies the Woodcomm
shareholders will be issued 16 million new investment shares of Desert
Springs Acquisition Corp. of ("Desert Springs") in exchange for 100% of
the stock of Woodcomm. The shareholders have also authorized the filing
of a Shelf Registration Statement for the sale of 2 million shares of
stock at not less than $3.00 per share.
Desert Springs has reincorporated in the state of Nevada and has
approved changing its name to iDial Networks Inc. ("iDial"). The NASD
will be notified of the name change, and a new trading symbol will be
applied for. The new Board of Directors that will take office upon
completion of the terms of the Plan of Reorganization will consist of
Mark T. Wood, Klaus Scholz and Edward Janusz.
As a result of this acquisition, the company will operate an Integrated
telephony and voice over IP based telephony network. Operating as iDial
Networks Inc. the company will utilize the power and efficiency of the
internet to empower individuals and businesses worldwide with low-cost
telephony and other enhanced, web-based access with the advanced
functionality of its privately-managed telephony network to offer users
a comprehensive solution for high-quality, low-cost telephony services.
Monthly phone costs will be billed automatically, and billing records
will be online in real-time allowing users to closely monitor telecom
charges.
iDial's services will include: NetPhoneCard.com, low cost global phone
to phone services; PhoneMeNow.com, an e-commerce tool;
CellPhoneCard.com, international telephony for cellular telephones;
homePhoneCard.com international telephony for SOHO (small office / home
office) and residential telephones; and iDialDirect.com, direct access
to the network from select locations within the United States, and soon
to come, SendACall.com, an eGreeting or e-mail containing phone calls.
Safe Harbor for Forward-Looking Statements: Except for historical
information contained herein, the statements in this news release are
forward-looking statements that are made pursuant to the Safe Harbor
provisions of the Private Securities Reform Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties, which may cause the Company's actual results in the
future periods to differ materially from forecasted results. These
risks and uncertainties include, among other things, product price,
volatility, product demand, market competition, risk inherent in the
Company's domestic and international operations, imprecision in
estimating product reserves and the Company's ability to replace and
expand its holdings.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Mark T. Wood
972/818-1058, Ext. 101
WEB PAGE: businesswire.com
GEOGRAPHY: TEXAS
INDUSTRY CODE: COMPUTERS/ELECTRONICS
TELECOMMUNICATIONS
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