Spec play: JRVE an old pick that I just noted this old news. Is this a to-good-to-be-true?n If they get Enron's old biz for pennies on the dollar???????????????/
Jarvis Entertainment Group Initiates Letter of Intent to Purchase Enron
Broadband Services, a Subsidiary of Enron Corp.
HOUSTON, Feb 19, 2002 (BUSINESS WIRE) -- Jarvis Entertainment Group, Inc. (Pink
Sheets:JRVE) today announced it has initiated a letter of intent to purchase
Enron Broadband Services (EBS), a wholly owned subsidiary of Enron Corp. (Pink
Sheets:ENRNQ).
Enron Broadband Services, a Houston-based wholly owned subsidiary of Enron
Corp., has assembled a world-class IP network designed for high quality, high
bandwidth delivery and application services. EBS also maintains a fiber and
optical transport network throughout North America along with dark long haul and
metro fibers, real estate, software and other communications equipment. EBS
cited their knowledge of and relationship with Jarvis Entertainment Group as
leading EBS to believe JEG would be interested in considering an acquisition of
all or some of these assets.
"JEG has been provided with an overview of the assets offered for sale. Our
entire team, legal, engineering, and financial advisers, contributed to the
proposal. Two companies on the same exchange, in a related business, both from
Houston; it made sense for us to go after this opportunity with diligence," said
John D. Jarvis, Chairman and CEO of Jarvis Entertainment Group. "At this point,
I will say only this; we have an offer on the table."
Jarvis Entertainment is currently pursuing the sale of substantially all of EBS'
assets including the IP network, the fiber and optical transport network, long
haul dark fiber, metro dark fiber, real estate and equipment. Due to the
sensitive nature of this discussion, any and all inquiries must be directed to
John D. Jarvis at 281/351-1831 ext. 104.
Based in Houston, Jarvis Entertainment Group, Inc. is an Internet technology and
entertainment holding company with up to 142 employees, including seasonal, part
time, and network administrative staff to support the entertainment, virtual
reality, network and information technology complex. For more information on the
company, please visit www.jarvisgroup.net for a listing of corporate
information, premiere Internet properties, and links.
SAFE HARBOR PROVISIONS
With the exception of the historical information contained in this release, the
matters described herein contain forward-looking statements that involve risk
and uncertainties that may individually or mutually impact the matters herein
described, including but not limited to product acceptance, the ability to
continually obtain increased orders of its products, the ability to meet
installation goals, economic, competitive, governmental impacts, validity of
intellectual property and patents, the ability to commercialize its
developmental products, technological and/or other factors, which could cause
actual results or revenues to differ materially from those contemplated by these
statements.
CONTACT: Jarvis Entertainment Group, Houston
John Jarvis, 281/351-1831 ext. 104
john@jarvisgroup.net
or
Alex Ellerman, 773/248-7708
alex@jarvisgroup.net
www.jarvisgroup.net |
