If you go to ANSWERS.COM and ask the question ; "How do I invest in Answers.com" you get the following response - "Answers.com is pre-IPO. For information about potential investments, please send an email to Investors@Answers.com."
Latest Release - If you can follow it? I have some trouble but it is probably good????
Fintech Closes Strategy Bridge Acquisition
CALGARY, Aug. 3 /CNW/ - FinTech Services Ltd. (CDNX-FSL.A) and Net
Shepherd Inc. (CDNX- WEB) announced today that FinTech's acquisition of
Strategy Bridge Inc, a subsidiary of Net Shepherd Inc. has been closed into
escrow pending formal approval of all terms by the CDNX. The closing will be
made effective as of July 1, 2000.
Strategy Bridge designs and implements wireless applications, eBusiness
solutions and delivers solutions at the leading edge of Customer Relationship
Management (CRM). These capabilities dovetail into FinTech's mobile workforce
solution offerings - linking mobile workers in real time to inter-enterprise
solutions such as mySAP.com. As a subsidiary of Net Shepherd, Strategy Bridge
has operated with seventeen full time employees. Spun off from Net Shepherd
three months ago, the company has recently achieved profitability. It is
expected to add immediate value to FinTech while introducing minor additional
costs.
The purchase price for the Strategy Bridge acquisition is performance
based. FinTech will issue a minimum of 3.1 million shares and a maximum of
5.59 shares depending on achievement of a $5.0 million revenue target together
with minimum profitability standards.
There will be an initial payment of 3,107,000 FinTech common shares. Net
Shepherd will initially receive approximately 2.95 million common FinTech
shares and two other Vendors who are unrelated to Net Shepherd will receive
approximately 161,000 FinTech shares. A final installment payment will be
made when the Final Purchase Price is determined on or about August 30, 2001.
The Final Purchase Price payments will be paid 100% in FinTech stock. Claw
back penalties to reduce the purchase price will be assessed for failure to
meet all targets. All shares issued will be subject to regulatory hold
periods. All stock calculations in the transaction have been based on a
mutually agreed upon $1.50 per FinTech share. Total consideration to be paid
can increase with earn-out clauses to approximately 5.59 million FinTech
common shares. With this stock issuance, FinTech will have 20,905,731 shares
issued and outstanding and 23,628,243 shares on a fully diluted basis. Final
filing of documents and materials is expected to be completed immediately.
``With solid experience delivering web solutions and CRM, Strategy Bridge
provides FinTech with another key component in its strategy of providing
complete end-to-end business solutions for customers,'' said Kalvin MacDonald,
President and CEO of FinTech. ``Their experience in developing wireless
applications is very complementary to continuing the momentum of FinTech's
recent success with mobile work force solutions.''
Net Shepherd will be a significant shareholder in FinTech and will
contribute through a Board seat. ``As a business accelerator our goal is to
propel FinTech commercially through the market-led application of Internet
technology'', stated Don Sandford, President and CEO of Net Shepherd. ``We
will leverage the experience, talent and network of our global business
partners at NSI to benefit FinTech.''
About FinTech
FinTech is a leader in mobile workforce solutions. FinTech's e-business
strategies deploy mobile workforce solutions for its customers to integrate
and optimize an entire business across its global supply chain and business
partner network. Through its partnerships, FinTech develops, implements and
supports proven yet innovative business software solutions across many
industries leveraging world class technology for its customers. FinTech is the
36th Fastest Growing Technology Company in Canada according to the 1999
Deloitte & Touche Canadian Technology Fast 50 and the 14th fastest growing
Alberta company in 1999 as reported by Alberta Venture Magazine.
FinTech is traded on the Canadian Venture Exchange under the symbol
FSL.A.
SAP, mySAP.com, SAP Accelerated Solutions and R/3 and all SAP product and
service names herein are trademarks or registered trademarks of SAP AG. Other
product and company names herein may be trademarks of their respective owners.
About Net Shepherd
Net Shepherd Inc (NSI) is an Internet-based technology management company
that accelerates the companies in which it has an interest. NSI has
proprietary technology and know-how that enables businesses to collect
information and perform work of commercial value by using communities of
people connected to the Internet. These services have paradigm-breaking speed
and cost advantages over alternative solutions. Many of NSI's holdings apply
this technology and are therefore known as Application Companies (AppCos). NSI
currently has three AppCos: Answers.com, ktopia, and ClickChoice.com. NSI
builds up the assets and valuations of the AppCos and then takes them through
liquidity events, such as mergers, sales or IPOs, subsequently distributing a
portion of the holdings as dividends to shareholders.
NSI is traded on the Canadian Venture Exchange under the symbol WEB.
Information and statements in this document, other than historical
information, should be considered forward-looking and reflect management's
current views of future events and financial performance that involve a number
of risks and uncertainties. Factors that could cause actual results to differ
materially include, but are not limited to, the following: general economic
conditions and developments within the Internet and Intranet industries;
product development and technology changes; competition and pricing pressures;
length of the sales cycle; variability of sale order flow and the management
of growth.
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
-0- 08/03/2000
For further information: Don Sandford, President and CEO, Net Shepherd Inc., Phone: (403) 218-8913, Fax: (403) 232-6711, E-mail: don.sandford@netshepherd.com, Website: www.netshepherd.com; Shelly Grubbe, Vice President, FinTech Services Ltd., Telephone: (403) 266-4808, Toll Free: 888-266-4808, Fax: (403) 233-0845, Internet: www.teamfintech.com, E-Mail: shellyg@teamfintech.com |
