(COMTEX) B: ELOCITY NETWORKS CORP - Record Date of Spin-Off
B: ELOCITY NETWORKS CORP - Record Date of Spin-Off
New York, New York, May 06, 2002 (Market News Publishing via COMTEX) -- eLocity
Networks Corp. Tuesday announced that the previously announced spin-off to its
shareholders of shares it owns in its subsidiary, eLocity Inc., will have a
record date of April 30, 2002.
The actual distribution of shares will not take place until the ELOC's planned
filing of an SB-2 registration statement of the shares becomes effective. ELOC
cannot, at this time, anticipate the date on which distribution of shares will
occur.
eLocity strongly encourages the public to read the above information in
conjunction with its Form 10KSB for Dec. 31, 2001, and 10QSB for June 30, 2001
and Sept. 30, 2001. The above documents may be viewed at www.sec.gov.
A number of statements contained in this press release are forward-looking
statements which are made pursuant to the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995.
These forward-looking statements involve a number of risks and uncertainties
including but not limited to, competitive market conditions, successful
integration of acquisitions, and the ability to secure additional sources of
financing. The actual results that eLocity may achieve could differ materially
from any forward-looking statements due to such risks and uncertainties.
Investors should be aware that eLocity's business is subject to substantial
risks arising from a number of areas, many of which cannot be reasonably
foreseen.
CONTACT: TEL: 619/575-0755 Sandra Jorgenson, eLocity Networks Corp.
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