CVRG and Lee Iacocca
telewrxlaunch.flashworks.biz click on company and look at shareholders! You will see Lee Iacocca. Well CVRG just acquired them!
LOS ANGELES--(BUSINESS WIRE)--March 27, 2002--Converge Global,
Inc. (OTCBB:CVRG), announced yesterday that it has completed the
acquisition of TeleWrx, Inc.
Converge Global originally signed a letter of intent on January
17, 2002 to purchase TeleWrx and make it a wholly owned subsidiary.
TeleWrx specializes in the sales and marketing of telecommunications
products and services through the utilization of its international
network marketing organization. TeleWrx, provides "Communications that
Work for You."
TeleWrx, Inc. is a development stage company with a dynamic and
experienced management team that is highlighted by Donald A. Smiley
serving as Chairman of the Board and Director; Robert E. Brown, Vice
Chairman, Co-Founder and Director; and Michael Brown, Co-Founder,
President. The Company operations will combine the power of network
marketing with technologically advanced telecommunications services
all under one roof. This allows the TeleWrx sales agents an
opportunity to sell communications services and build a successful
home-based business while earning commissions and residual income.
TeleWrx, Inc. has a three year renewable Sales and Marketing
Agreement with Orbit E-Commerce, Inc. Together, they share the goal of
signing in excess of 1 million subscribers in Canada and the United
States over the next three years. Under the terms of this agreement,
TeleWrx will distribute Orbit's award-winning VoIP long distance and
Internet dial-up access service to residential and small business
subscribers in major urban areas in the United States and Canada.
Orbit's VoIP long distance service is reliable, has excellent toll
quality voice fidelity, and its pricing will motivate users of
traditional telephone services to switch. Douglas Lloyd, Orbit's
President and CEO, stated, "The TeleWrx, Inc. Agreement marks a
significant milestone in Orbit's development. Our network-building
program with IBM (NYSE:IBM) is under way and we are now positioned to
acquire significant numbers of customers."
Converge Global, Inc. purchased 100% of TeleWrx in a stock for
stock exchange. The shareholders of TeleWrx received about an 80%
interest in the post acquisition company. Over the coming weeks,
TeleWrx intends to begin the national rollout of its services with
introductory meetings in seven major cities. Management plans to grow
sales in a rapid but orderly fashion while the company also builds a
strong position in the market place. Management plans to build its
core business by obtaining loyal customers from the over 100,000,000
homes using long distance services, by providing a bundle of
communications services at a very competitive flat monthly rate that
is easy to understand and meets the customers' needs. The Company's
products are competitively positioned in the marketplace and the
utilization of network marketing, its competitive advantage of "Friend
to Friend" selling, along with its straightforward sales approach will
allow TeleWrx to more quickly acquire market share and reach critical
mass.
TeleWrx is positioned to capture a significant number of customers
and be a serious contender in the telecommunications industry through
the utilization of network marketing. By utilizing this powerful sales
strategy, the company's home-based agents will approach the
residential and small-business markets with the most cost-effective,
most technologically advanced, and highest quality telecommunication
services available today. TeleWrx will offer residential and small
business long-distance, Wireless long-distance, Internet dialup (56K),
calling cards, toll-free service, wireless services including WAP
(wireless application protocol) devises, and enhanced services such as
"follow me" and nationwide "one number" services. In the current
economic environment, home-based businesses have enjoyed explosive
growth and experts predict that this growth will be fueled by the
expanding markets and new technology in the telecommunications
industry.
Contact Mr. Richard Kaiser at Yes International for Investor
Relations at 800/631-8127 or by E-mail at CVRGpresident@aol.com.
The statements made in this press release, which are not
historical facts, contain certain forward-looking statements
concerning potential developments affecting the business, prospects,
financial condition and other aspects of the company to which this
release pertains. Actual results of the company's operations
generally, may differ materially from what is projected in such
forward-looking statements. Although such statements are based upon
the best judgments of management of the company as of the date of this
release, significant deviations in magnitude, timing and other factors
may result from business risks and uncertainties including, without
limitation, the company's dependence on third parties, general market
and other factors, many of which are beyond the control of the
company. The company disclaims any obligation to update information
contained in any forward-looking statement.
--30--KK/se*
CONTACT: Yes International
Richard Kaiser, 800/631-8127
CVRGpresident@aol.com
KEYWORD: CALIFORNIA FLORIDA
INDUSTRY KEYWORD: ADVERTISING/MARKETING COMPUTERS/ELECTRONICS
E-COMMERCE NETWORKING TELECOMMUNICATIONS MERGERS/ACQ
SOURCE: Converge Global, Inc. |
