NEW YORK--(BUSINESS WIRE)--Jan. 19, 2000--Ameri-First Financial
Group (OTC BB: AMFR) announces today the Company has signed a
non-binding Letter of Intent to acquire New York based Wall Street
NewsCast, Inc.
Wall Street NewsCast, Inc. is a privately held Financial
Multimedia company based in New York City. The company's core business
is operated through its widely acclaimed web site at
www.wallstreetnewscast.com.
The company offers a large venue of services for Public
companies; some of which are online conferences, audio and video
interviews as well as investor demographics exposure. Wall Street
NewsCast, Inc. will be entering the business to business market within
the next fiscal quarter.
Dallas, Texas based Ameri-First Financial Group is a full service
financial institution. The company is involved in diversified
financial services and investment banking. Ameri-First Financial Group
is also owner of Ameri-First Securities, a member NASD and SIPC firm.
Jeffrey C. Bruteyn, CEO of Ameri-First Financial Group, stated,
"the acquisition of Wall Street NewsCast, Inc. will allow Ameri-First
to build an Internet presence and ultimately a stronger business
model. We feel it's an opportunity for Ameri-First Financial Group to
offer the public our services like IPO's, and public secondary's
through the use of the Internet and WSNC. We realize the market
potential that Wall Street NewsCast, Inc. currently has; and we want
to be part of it. Our acquisition will allow Wall Street NewsCast,
Inc. to expand its operational and marketing strength. Wall Street
NewsCast, Inc. has built a track record of visitors to their web site
that is remarkable considering that the company has not committed any
capital towards advertising since the inception of operations. We are
excited about the potential that the company will bring to Ameri-First
Financial Group, and we look forward to finalizing a contract with the
company."
Currently, Wall Street NewsCast, Inc. through its web site
-www.wallstreetnewscast.com- currently receives an average of 175
thousand unique visiting listeners per day with page view hits
averaging 800 thousand per day. The web site visiting demographics are
60 percent National and 40 percent International. The majority of the
viewers are individual investors but a growing portion of the viewers
are institutional.
Both companies expect to come to terms on a contract within this
first quarter of 2000.
Certain information included in this communication contains
statements that are forward looking, such as statements relating to
the future anticipated direction of the industry, plans for future
expansion, various business development activities, planned capital
expenditures, future funding sources, anticipated sales growth and
potential contracts. These forward-looking statements are subject to a
number of known and unknown risks and uncertainties that could cause
actual operations or results to differ materially from those
anticipated.
--30--jp/ny*
CONTACT: Ameri-First Financial Group
Jeffrey C. Bruteyn, CEO
214/599-9050
or
Wall Street NewsCast, Inc.
Thomas Bustamante, CEO
tom@wallstreetnewscast.net
212/625-9930 |
