Take a hard look at their subs NetVision.com (esp prior releases)...plus the hard side of the business w/Ameritech, GTE etc...this today...trades around 3/4 on OTC BB...fully filing:
(PR Wires) PRW: Telecomm Industries Corp. Completes Acquisition of Glob
PRW: Telecomm Industries Corp. Completes Acquisition of Global Marketing
Concepts
NAPERVILLE, Ill.--(BUSINESS WIRE)--Jan. 31, 2000--Telecomm Industries Corp.
(OTCBB:TCMM) announced today that its ISP subsidiary, NetVision.Com has
completed the acquisition of Global Marketing Concepts, Inc. Global
Marketing has demonstrated exceptional growth and profitability by providing
Web Hosting, Web Site Design and Development, and other services which
Internet Enable business clients in the Louisville, Kentucky area.
Telecomm Industries President and CEO Paul Satterthwaite stated, "By
completing this acquisition we have added a critical element to our
business. Not only will the acquisition be accretive, it gives NetVision the
opportunity to generate new business in the most prosperous area of Internet
commerce. GMC is a key component in the NetVision acquisition strategy."
Telecomm owns approximately eighty five percent of its subsidiary,
NetVision.Com, which operates as an Internet service provider and focuses on
web hosting, e-commerce and other business-to-business applications and
services. NetVision closed its first acquisition on November 15th when it
successfully completed the Merger of AyeNet into the business. The
transaction with Global closed on January 28, 2000.
Telecomm Industries Corp. is one of the nation's largest distributors of
voice and data services for Ameritech, BellSouth, and GTE. Telecomm combines
these services with products from world-class manufacturers to provide
single source telecommunications and computing solutions to its business
customers. Telecomm Industries specializes in being the single provider of
the customer's total communication needs.
Certain statements contained in this report that are not historical facts
are forward-looking statements that are subject to certain risks and
uncertainties that could cause actual results to differ materially from
those set forth in the forward-looking statements. The Company makes no
representation with regard to successful integration of the merger.
Reference is made to the Company's filings with the Securities and Exchange
Commission, including the Company's annual report for fiscal 1998 on Form
10-KSB and the Company's quarterly report for the third quarter of 1999 on
Form 10-QSB. Investors should read this release in conjunction with these
filings for a description of these and other factors that could cause actual
results to differ materially from those in the forward-looking statements.
CONTACT: Telecomm Industries Corp.
Dave Gruber, 330/963-0566
or
Telecomm Industries Corp.
Paul Satterthwaite, 317/202-3050
10:20 EST JANUARY 31, 2000
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