TeleServices Internet Group Files Financials and Updates Status TeleServices Internet Group Files Financials and Updates Status of Pending Acquisitions
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Nov. 27, 2000--TeleServices Internet Group Inc. (OTCBB:TIGI), also known as TSIG.com, today announced the recent filing of its third quarter financial results, the company's first filing of a Form 10-QSB after its business combination with GeneralSearch.Com on August 23, 2000. This latest filing is available on request from the company, and through the EDGAR
filing system of the Securities and Exchange Commission. As discussed in the Form 10-QSB, TSIG.com announced in June 2000 that it has entered into definitive agreements to acquire two companies: The Affinity Group LLC ("Affinity"), an affinity marketing and sales company, and Reliant Interactive Media Corporation ("Reliant"), a direct marketing company that drives retail sales via television and the Internet. While the closing of these proposed transactions have been subject to various contingencies which have led to a number of unexpected delays, management is committed to completing the closings as expeditiously as possible.
Jeff Bruss, vice-chairman of TSIG.com and chief executive officer of GeneralSearch.Com, commented: "I have been working with Scott Roix of Affinity and Kevin Harrington of Reliant on an almost daily basis for the past several months to close these transactions. We are all very excited about the synergies between our companies and are working diligently to complete these closings. I want to thank our many loyal shareholders for their patience during this process."
Added Scott Roix, president and chief executive officer of Affinity: "We expect to close our acquisition by TSIG.com very soon, and look forward to an exciting future for the combined companies. I have established a close working relationship with the management of TSIG.com and Reliant, and I am confident we will hit the ground running as soon as we close."
Kevin Harrington, chairman and chief executive officer of Reliant, stated: "We have been working very closely with GeneralSearch.Com and Affinity over the past six months, and are committed to a long-term relationship."
The management of TSIG.com remains committed to completing both the Affinity and Reliant acquisitions. The company plans to close the Affinity acquisition within ten days, and expects to be able to satisfy the conditions necessary in order to close the Reliant acquisition within forty-five days.
About TSIG.com
Headquartered in St. Petersburg, Florida, TeleServices Internet Group Inc., also known as TSIG.com, has recently acquired GeneralSearch.Com, an Internet search engine and portal. TSIG.com has entered into agreements to acquire The Affinity Group, an affinity marketing and sales company, and Reliant Interactive Media, a direct marketing company that drives retail sales via television and the Internet.
TSIG.com forms myCard partnership agreements with national corporations and non-profits, and works with those partners to design revenue-generating programs. These customized marketing programs are intended to provide recurring revenues to TSIG.com and its partners, and help develop strong brand loyalty and awareness within target communities. TSIG.com also provides customer service and support with its Web-based call center and related services. TSIG.com's corporate web site is at www.tsig.com and its myMusicCard web site is at www.mymusiccard.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. Actual results could differ materially, as the result of (1) competition in the markets for the company's products and services, (2) the ability of the company to execute its plans in a timely fashion, (3) the ability of the company to raise the capital necessary to finance its operations and the operations of its proposed acquisitions, including Affinity and Reliant, (4) the approval by shareholders of Affinity and Reliant to be acquired by the company, and the completion of final documentation satisfactory to all parties, and (5) other factors noted in the company's SEC filings.
CONTACT: TeleServices Internet Group Inc., St. Petersburg
Paul Henry, 727/897-4000
phenry@tsig.com |
