PrimeHolding.com, Inc. Declares Dividend Of TimeMarker's Stock
SALT LAKE CITY, UTAH--PrimeHoldings.com, Inc. (OTC: PRIM), a diversified holding company with early-mover initiatives in the smart card, telecommunications, and wireless auction space, today announced that it is spinning out its subsidiary, TimeMarker, Inc. and declaring a dividend of TimeMarker's common stock to PRIM stockholders.
One share of newly issued TimeMarker common stock will be issued for every block of 10 shares of PRIM common stock held by all PRIM stockholders on the date of transfer. PrimeHoldings currently owns all of TimeMarker's common stock. PrimeHoldings will assist TimeMarker in completing all the necessary filings with the Security and Exchange Commission in order to ensure that it becomes a full-reporting company.
TimeMarker develops wireless Internet exchange technology enabling location-based, dynamic pricing of time-perishable goods and services. Acquired by PrimeHoldings in March 2001, TimeMarker has since refined its software platform and revenue model and is now well-positioned to launch a market-ready product into several vertical markets, such as food distribution, the golf industry, and transportation and fleet services. TimeMarker intends to obtain adequate funding to achieve its business goals as a stand-alone company.
"We believe that TimeMarker's spin-off represents a responsible way to assign a proper valuation to TimeMarker, to exploit its many opportunities and to maximize shareholder value for PrimeHoldings," said Thomas Aliprandi, CEO of PrimeHoldings.com.
About PrimeHoldings.com
PrimeHoldings.com is a technology-oriented holding company that seeks to introduce and bring to market new e-commerce applications and business solutions. The Company is composed of subsidiary operations: bCard, Inc., (www.bcard.net), a leading provider of smart-card information management systems for corporate clients in marketing and promotions; TimeMarker, Inc., developer of a scalable Internet exchange platform that uses wireless devices to provide clients with an efficient means of selling time perishable inventory; and Uniquest Communications, Inc., a provider of enhanced local and long-distanced phone services. PrimeHoldings is traded over-the-counter under the ticker symbol PRIM.
FOR FURTHER INFORMATION PLEASE CONTACT:
PrimeHoldings.com
Allison Hague
(801) 562-1444
primeholdings.com
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