SSP gut feeling was good.. SYCD may be good for tomorrow...
closed at the high of the day.... possible gapper...
profile of SYCD...
biz.yahoo.com
todays news....
bigcharts.com
SyCoNet.com to Acquire Ornate Communications, Inc.
TUESDAY, MARCH 06, 2001 8:45 AM
- BusinessWire
MANASSAS, Va., Mar 6, 2001 (BUSINESS:SYCD) is pleased to announce that it has
signed a letter of intent to acquire Ornate Communications, Inc., a privately held wireless
solutions provider based in Houston, Texas.
The acquisition is expected to finalize upon mutual satisfaction of the due diligence process.
The Company will issue common stock to complete the acquisition.
William Spears, CEO of SyCoNet.com and Robert Wheeler, CEO of Ornate Communications
agreed that the acquisition would result in a synergistic entity, enabling each Company to
benefit from one another's technology and providing shareholder value.
"SyCoNet.com will continue its endeavor to become the premier destination for Japanese
anime products and will continue forward with its strategy." Stated Mr. Spears." We have
dedicated a great deal of time to isolating opportunities for SyCoNet that would make sense
for the Company and we believe that the acquisition of Ornate will deliver the value our
shareholders deserve."
Mr. Wheeler added, "Ornate has a strong R&D background with an advanced wireless
solution that provides a low cost source of high-speed digital (up to 25 Mbps) access to
residential customers. Becoming a part of SyCoNet will enable us to tap into a much larger
marketplace and provide increased opportunity to expand more rapidly."
The agreement presently calls for Mr. Wheeler to assume the position as Chairman and
CEO of the newly formed Company. Additional details were not immediately available.
For shareholder inquiries or to be placed on the SYCD shareholder email list, please email
Jim Bouker at Jim@integritycapital.net or call 360/318-1819. Investment advisors, market
makers and other financial professionals may contact Darren Hayes at
Darren@integritycapital.net or call 480/922-3719.
For Media inquiries, please contact Paula Kane at paula@integritycapital.net or call
757/588-0715.
About Ornate Communications, Inc.
Ornate Communications, Inc. is a provider of high-speed technology exchange services and
utilities to residential, commercial and e-commerce customers. The Company has developed
a line of proprietary wireless products designed to provide cost effective wireless solutions to
its customers.
About SyCoNet.com
SyCoNet.com is a specialty retailer of popular Japanese animation or anime. SyCoNet.com,
through its distribution websites, www.animedepot.com and www.sycodistribution.com, sells
a myriad of Anime DVD's, videos, toys and trading cards at a discount from regular retail
sources.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for
forward-looking statements.
Certain information included in this press release contains statements that are
forward-looking, such as statements related to the future anticipated direction of the
high-technology industry, plans for future expansion, various business development activities,
planned capital expenditures, future funding sources, anticipated sales growth and potential
contracts.
Such forward-looking information involves important risks and uncertainties that could
significantly affect anticipated results in the future and, accordingly, such results may differ
from those expressed in any forward-looking statements made by or on behalf of
SyCoNet.com, Inc.
These risks and uncertainties include, but are not limited to, those relating to development
and expansion activities, dependence on existing management, financing activities, and
domestic and global economic conditions.
CONTACT: SyCoNet.com
Paula Kane, 757/588-0715
paula@integritycapital.net
or
Jim Bouker, 360/318-1819
Jim@integritycapital.net
or
Darren Hayes, 480/922-3719
Darren@integritycapital.net
URL: businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.
KEYWORD: VIRGINIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS
TELECOMMUNICATIONS
ELECTRONIC
GAMES/MULTIMEDIA
ENTERTAINMENT
INTERNET
MERGERS/ACQ
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worth watching ... just in case...
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