Art Cards, Inc To Acquire uMember.com, A One-Stop Online ?Mega-Store?
DENVER,CO, Feb 28, 2000 (INTERNET WIRE via COMTEX) -- Art Cards, Inc.
(OTCBB:ATCD) has agreed to acquire uMember.com which is a new concept
in online retail sales and auction Web site. UMember.com is a
majority-owned subsidiary of Wareforce.com, Inc. , a leading provider
of information technology (IT) systems, e-commerce solutions and
technical services. A closing date has been set for early March 2000.
uMember.com?s strategy is to create a one-stop online ?mega-store?
offering a wide range of brand name merchandise and services. The site
provides 'uMembers' with computers, consumer electronics,
pharmaceuticals, jewelry, supermarket and household items and travel
and insurance services among others. In addition, the site will feature
links to a variety of financial, sports, home and auto financing sites.
Services include community e-chat rooms, auctions, classifieds and
bulletin boards.
The proposed transaction is intended to qualify as a tax-free
reorganization, and is subject to the completion of a definitive
agreement and the approval of the respective Boards of Directors and
shareholders. uMember.com will be the surviving operating entity and
Wareforce.com will be the majority shareholder of the post-merged
entity.
uMember.com offers competitively priced merchandise and services to
credit unions, large corporate groups, and the four million potential
?uMembers? representing the Wareforce.com customer base. As previously
announced, uMember.com recently launched its one-stop online
?megastore? with a major Southern California credit union with over 50,
000 members, and has received indications of interest from other credit
unions and organizations.
In addition to other uMember.com product and service offerings,
Wareforce.com is leveraging its long-term agreements with more than 900
major computer product manufacturers to offer a virtual warehouse of
140,000 items on the uMember.com site. Wareforce.com is an authorized
provider for leading manufacturers including Microsoft, Compaq,
Hewlett-Packard, IBM and Apple.
About uMember.com Inc. ? www.umember.com a new concept in online retail
sales and auction Web site and 70 percent owned by Wareforce.com, Inc.
announced the launch of an Internet community portal for a Southern
California credit union consisting of more than 50,000 members. Terms
of the deal were not disclosed.
About Wareforce.com Inc. ? Wareforce.com, with headquarters in El
Segundo, California, is a leading provider of IT systems, technical
services and e-commerce solutions to government organizations,
educational institutions, and small, middle-size and Fortune 1000
companies.
Wareforce.com provides comprehensive solutions addressing a wide range
of IT needs which require high level expertise, including professional
consulting for system design, configuration and installation; network
design and integration; repair and maintenance; help desk support; and
technical personnel staffing. Wareforce.com also provides
computer-related outsource procurement solutions and asset management
services. Wareforce.com is located on the World Wide Web at
www.wareforce.coms, auctions, classifieds and bulletin boards.
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Such
statements are subject to risks and uncertainties that could cause
actual results to vary materially from those projected in the
forward-looking statements. The Company may experience significant
fluctuations in future operating results due to a number of economic,
competitive and other factors, including, among other things, the size
and timing of customer contracts, new or increased competition, changes
in market demand, and seasonality of purchases of the Company?s
products and services. There is no assurance that the operation of
uMember or the skills provided by its personnel will result in improved
operating results. These factors and others could cause operating
results to vary significantly from those in prior periods, and those
projected in forward-looking statements. Additional information with
respect to these and other factors which could materially affect the
Company and its operations are included certain forms the Company
expects to file with the Securities and Exchange Commission.
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CONTACT: Richard Miller
Art Cards, Inc
303-831-9335 |
