(COMTEX)B: M & A WEST INC - CEO Purchases Company Shares in the Open Market
New York, New York, Oct. 24, 2000 (Market News Publishing via COMTEX) -- M&A West Inc., a technology holding company and merchant bank, announced its CEO Scott Kelly purchased 42,600 of M&A West shares from the open market during the month of September, at various prices between $5 and $6. Currently, M&A West's stock is trading at around $4 per share.
"The executives and large shareholders of M&A West are totally committed to the long-term success of the company. Insiders of the company have and likely will purchase the company's common stock in the open market when they believe the stock is undervalued. Needless to say, I felt extremely comfortable with my additional personal investment in M&A West and will consider other purchases of the stock in the open market when I believe the stock is undervalued (or of
great value)," says Scott Kelly, president and CEO of M&A West, Inc.
The announcement of the recent large purchase of shares by Kelly is not unusual for M&A West. Kelly indicated that, just like any other personal or professional investment, he only makes significant stock purchases when he feels that a
particular stock meets certain criteria, which may include such characteristics as being undervalued, poised for future gains or unrealized potential, or simply not sufficiently followed to be known by a large enough audience for the stock to have an appropriate valuation.
M&A West Inc. also announced recently that the company has made changes to its business model. Instead of focusing solely on Internet companies and providing seed capital to start-up companies, M&A West is repositioning itself as a
technology merchant bank that will acquire, invest in and develop later stage technology companies into cohesive units that can be either taken public or sold off within 6-18 months. This frees it from the constraints of the traditional incubator model shared by companies like Internet Capital Group (Nasdaq:ICGE), CMGI, Inc. (Nasdaq:CMGI) and Divine InterVentures Inc. (Nasdaq:DVIN).
About M&A West M&A West, Inc. has several business objectives. The company is a technology merchant bank that acquires, invests in and develops technology companies into cohesive units that can be either taken public or sold off within 6-18 months. M&A West also provides various mergers and acquisitions related consulting services and helps smaller publicly traded NASDAQ and Over-the-Counter companies to raise capital they need. Through a network of
related companies, M&A West can also offer both its portfolio companies and other developing companies a full line of business services to increase the awareness of their business.
M&A West Inc.'s portfolio of Investments includes: e-Business solutions company Digital Bridge Inc. (OTCBB:DGBI; www.digitalbridge.com), online financial
services firm VLDC Technologies (OTC:PCLO; www.pcloans.com), music entertainment company Ronlan Entertainment (www.ronlan.com), Workfire Networks Inc. (www.workfire.com), venture capital portal VentureList.com(www.venturelist.com), Internet service provider Sierra-Net, electronic communications network eCapX.com (www.ecapx.com), stock research engine InvestorPackages.com (www.investorpackages.com) and computer security services
provider InvincibleNet.com (www.invinciblenet.com).
Recent news releases and additional information about M&A West Inc. may be found on the company's home page at www.mawest.com.
Statements regarding financial matters made by M&A West, Inc. (MAWI) in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues
and earnings and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This information is not a recommendation to buy or sell securities in MAWI.
TEL: (650) 827-7308 Rick West, Public Relations
TEL: (650) 827-7308 Rick West, Public Relation
E-MAIL: Rick@mawest.com
TEL: (570) 322-8061 Jerry Frear, I.R.
E-MAIL: Jerry@mawest.com
Additional Contact Info and Disclaimer for InvestorServicesOnline
For more information on M&A West, Inc., you can contact InvestorServicesOnline (Internet Investor Relations) at E-mail: investorservicesonline@yahoo.com or Company Representative, Rick West, TEL: 650/827-7308 (Public Relations) E-mail: Rick@mawest.com
Rick West is not associated with InvestorServicesOnline.
Disclaimer Information for InvestorServicesOnline:
Investor Services Online (ISO) is a compensated agent of M&A West Inc. and has been hired to perform certain investor relations services for the Company. Investor Services Online is being paid 1,200 shares of MAWI stock per month for a 12 month period. We are not a registered investment advisor and suggest that you consult with an independent registered advisor as well as do your own research before investing in any stock. The opinions and analysis included herein are based on sources believed to be reliable but no warranty, expressed or implied, is made as to their accuracy, completeness or correctness. Readers are advised that this communication is issued solely for information purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities. All information posted on Internet discussion sites by Investor Relations Online relating to M&A West Inc. is approved by M&A West Inc. The reader should verify all claims and do their own due diligence before investing in any securities mentioned. Investing in securities is speculative and carries a high degree of risk, which may or may not be suitable for everyone. |
