SHPS MERGER NEWS!
SHOPSS.Com Signs Letter of Intent to Acquire AccessTel
Change in Business Focus to Telecommunications
PLAINVIEW, N.Y.--(BUSINESS WIRE)--June 12, 2000--SHOPSS.Com (OTCBB: SHPS) announced today that it has entered into a letter of intent to acquire all of the issued and outstanding stock of AccessTel Inc. The specific details of the acquisition were not disclosed at this time. AccessTel's business plan is to provide international Voice over Internet Protocol telephony, augmented with last mile ``Wireless Infrastructure'' for Wireless Internet Applications, between the United States and certain Asian countries.
Lawrence Liang, President and CEO of AccessTel Inc., has over 30 years of management experience in U.S. high-tech companies such as IBM, Genoa Systems and Telecom Marketing, to name a few. Mr. Liang spent 16 years at IBM and was responsible for the development of evolving generations of semiconductor and computer technologies. Over the course of the past 14 years, Mr. Liang was the founder of three high-tech companies in Silicon Valley, which have delivered to the industry multiple innovations and contributions in new technology development. He has maintained many high-level business relationships throughout Asia.
Jerry Conca, President of SHOPSS.Com said, ``The acquisition of AccessTel Inc. represents a significant change in the business activities of our company. We believe our decision to move forward in the field of international telecommunications, through the acquisition of AccessTel, coupled with our proven marketing expertise, will be of great value to our shareholders.''
Forward-looking statements in this release are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
Contact:
Worldwide Corporate Finance
Sy Mitzner, 818/783-0054 |
