Here's a copy of the press release:2/23/00 - LifeOne, Inc.
Announces Signing of Non-Binding Letter of Intent for Reverse Merger
WASHINGTON AND EDINBURGH, Scotland, Feb 23, 2000 (BUSINESS WIRE) -- LifeOne, Inc. (LONE) announced today that it has signed a non-binding letter of intent to complete a reverse merger with Communicata Limited (www.communicata.com), a Scotland-based e-business incubator and developer of e-business solutions.
The letter of intent contemplates that Communicata would merge with and into LifeOne, or a wholly-owned subsidiary of LifeOne, and that Communicata shareholders will own 90 percent of the post-merger shares.
LifeOne, Inc., formerly National Affiliated Corporation, filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Maryland on December 3, 1999. On that date, the Office of the United States Trustee appointed Charles R. Goldstein as Chapter 11 trustee of the Company pursuant to the order of the United States Bankruptcy Court for the District of Maryland.
The letter of intent with Communicata is non-binding and is subject to a number of contingencies, including the approval of the United States Bankruptcy Court.
Statements made or incorporated in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. Forward-looking statements include, without limitation, statements containing the words "anticipates", "believes", "expects", "intends", "future", and words of similar import which express management's belief, expectations or intentions regarding the registrant's future performance or future events or trends. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of the registrant to differ materially from anticipated future results, performance or achievements expressly or implied by such forward-looking statements. In addition, the registrant undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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