PHXU:Here's one to look at.Long Distance and profitable.DGIV,GNNX, now PHXU.Like these type companies.
Jimbo
Phoenix Signs Revised Letter Of Intent To Purchase Long Distance Company,
'American
Telecom'
PR Newswire, Thursday, April 23, 1998 at 12:38
WEST PALM BEACH, Fla., April 23 /PRNewswire/ -- Phoenix International
Industries, Inc. (BB: PHXU) announced today that it has
executed a final revision to letter of intent originally dated July 29, 1997,
to purchase American Telecommunications Enterprises, Inc. ("American Telecom")
of Syracuse, New York. Financial details of the purchase are expected to be
released next week.
American Telecom provides long distance, operator assisted and 1+ services
to both residential customers and businesses, specializing in condominiums,
hotel and health care industries. Founded in 1992, American Telecom is
authorized to provide interstate and international service and is certified as
an intrastate carrier in 47 states and the District of Columbia.
For the year ended 1997, American Telecom reported pretax profits in
excess of $1,300,000
The acquisition of American Telecom is dependent upon the execution and
closing of a definitive agreement and completion of due diligence
investigations, which is expected within 90 days.
Phoenix President and CEO, Gerard Haryman said, "Buying American Telecom
is a very cost effective way for Phoenix to gain a strong foothold in the long
distance market. Combined with our recent acquisition of Mic-Mac Investments,
Inc., (a company which markets long distance services to the hospitality
industry) American Telecom can become a catalyst towards Phoenix's ultimate
goal of becoming a quality service provider in the telecommunications
industry."
Phoenix also has two other subsidiaries in "high tech" industries:
Intuitive Technology Consultants, Inc. of Atlanta, Georgia, specializing in
computer systems design and personnel placement, and HDX 9000, Inc. of West
Palm Beach, Florida, specializing in Millennium compliance and systems
engineering.
For Broker Relations and Due Diligence package contact Venture Capital &
Marketing Consultants, Inc., 312 W. First St., Ste. 203, Sanford, Florida
32771; phone, 888-302-9994 or 407-302-9994, or fax, 407-302-8792; e-mail,
VenCapNMar@aol.com.
SOURCE Phoenix International Industries, Inc.
-0- 4/23/98
/CONTACT: Venture Capital & Marketing Consultants, 888-302-9994 or
407-302-9994, or fax, 407-302-8792, or email, VenCapNMar@aol.com/ |
