INQU news record date Feb 13
i-Incubator Announces February 13, 2001 as the Record Date for the Spin Off of
Its Subsidiaries
Business Editors
MIAMI--(BUSINESS WIRE)--Feb. 2, 2001--i-Incubator.com, Inc.
(OTCBB:INQU) is pleased to announce that it has a filed a Schedule 14C
Definitive Information Statement pursuant to Section 14(C) of the
Securities Exchange Act of 1934 today to inform its shareholders of
its intention to spin off its four wholly owned subsidiaries,
i-CarAuction.com, Inc., i-Teleco.com, Inc., i-Aerobids.com, Inc. and
i-AntiqueAuction.com, Inc. as well as its subsidiary
i-RealtyAuction.com, Inc. (which is thirty (30%) percent owned by
Global Realty Management Group, Inc. (OTCBB:GRMG)) to its shareholders
of record as of February 13, 2001. In addition, the Company is
informing its shareholders of its intention to distribute its
1,500,000 shares of Wealthhound.com, Inc. (NQB:WLTH) to its
shareholders as of February 13, 2001.
On January 23, 2001, i-Incubator filed its Schedule 14C
Preliminary Information Statement with the Securities and Exchange
Commission and did not receive any comments on such filing. Therefore,
i-Incubator filed its Definitive 14C with the SEC and announced that
all shareholders of record of the Company as of February 13, 2001 will
receive shares of the subsidiaries common stock in the following
manner:
-0-
*T
1. i-RealtyAuction.com, Inc.-.1439 shares for each i-Incubator share
owned;
2. i-Teleco.com, Inc.-.7810 shares for each i-Incubator share owned;
3. i-AntiqueAuction.com, Inc.-.4111 shares for each i-Incubator share
owned;
4. i-Aerobids.com, Inc.-.4111 shares for each i-Incubator share
owned;
5. i-CarAuction.com, Inc.-.4111 shares for each i-Incubator share
owned; and
6. Wealthhound.com, Inc.-.062 shares for each i-Incubator share
owned.
*T
Each of the Subsidiaries filed their Form 10-SBs and received no
further comment letters from the Securities and Exchange Commission
("SEC"). The SEC has determined that no review has been or will be
made of the subsidiaries' registration statements. Therefore such
registration statements were effective on January 30, 2001, 60 days
after filing. Therefore, each of the subsidiaries are fully reporting
entities under the Security Exchange Act of 1934 and are required to
comply with the reporting requirements of the Exchange Act of 1934,
including but not limited to, the filing of annual, quarterly, and
other reports with the SEC.
Statements contained in this press release that are not based upon
current or historical fact are forward-looking in nature. Such
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ materially from estimated
results. Management cautions that all statements as to future results
of operations are necessarily subject to risks, uncertainties, and
events that may be beyond the control of i-Incubator.com, Inc. and no
assurance can be given that such results will be achieved. Potential
risks and uncertainties include, but are not limited to, the ability
to procure, properly price, retain, and successfully complete
projects, the availability of technical personnel, changes in
technology, and competition. For purposes of disclosure, the Company
has received assistance in the drafting of this news release by the
Company's shareholder relations agent, who receives three-thousand
dollars on a month-to-month basis for providing such shareholder
relations services.
--30--mk/mi*
CONTACT: i-Incubator.com, Inc., Miami
Jamee Freeman, 305/358-3678
KEYWORD: FLORIDA NEW YORK
INDUSTRY KEYWORD: BANKING REAL ESTATE AUTOMOTIVE E-COMMERCE
TELECOMMUNICATIONS
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