ICHC - inCHORUS.com Has Entered Into Negotiations for an Exclusive Licensing
Agreement And/or Acquisition Agreement With Cyberradio.com, Inc.
SANTA CLARA, Calif., Jan 16, 2001 (BUSINESS WIRE) -- (OTC BB: ICHC)
inCHORUS.com announced today that it has completed Phase One negotiations and
has entered Phase Two (due diligence review) for establishing an exclusive
licensing agreement and/or acquisition agreement with CyberRadio.com, Inc.(TM),
a privately owned Internet radio company. CyberRadio.com, Inc. is the largest
Internet radio company with over 15,500+ radio stations under its worldwide
umbrella. CyberRadio.com, Inc. has two premiere product and service divisions,
Internet Music Promotions, Inc.(TM) and Internet Music Library, Inc.(TM), and
the company was identified in The Wall Street Journal in an article published on
November 27, 2000 as one of the three best web radio offerings on the Internet.
Mr. William Yuan, Chief Executive Officer of inCHORUS.com stated "the article
was quite significant in that the other two stations cited were radiolocator.com
and broadcast.com which was a highly publicized acquisition by Yahoo!, Inc. for
an estimated $5.9 billion U.S.. The synergy and integrated vision of both
inCHORUS, Inc. with its complete rich e-mail solutions and CyberRadio.com,
Inc.'s broad audience base, artist recruitment program and copyright friendly
pay to play downloading system will establish a bold, new and more diverse
future for inCHORUS.com and its shareholders. CyberRadio.com, Inc. also holds a
number of provisional patents and copyrights on its business process and
products that will compliment and expand inCHORUS'S existing product sales and
distribution."
Mr. Yuan further stated "he anticipates the balance of the due diligence by both
companies will be completed in the next thirty days and the transaction will
close shortly thereafter." Mr. Yuan went on to state "additional information on
the exclusive licensing agreement and/or acquisition will be forthcoming as it
is approved for release. The transaction is on a fast track and it is envisioned
to be completed in the early to mid part of our first quarter."
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, increased levels of competition for the company, new
products and technological change, the company's dependence upon third-party
suppliers, intellectual property rights and other risk detailed from time to
time in the company's periodic reports filed with the Securities and Exchange
Commission.
CONTACT: inCHORUS.com
Gerry Loader
1-408-566-6000
URL: businesswire.com |
