Not very much, really, and it's lotsa fun. But NOW NOW NOW Guess WHO is coming out with an imitation?
Sunday May 10, 4:16 pm Eastern Time
Company Press Release
Cashco Management Makes Announcement
NEWMARKET, Ontario--(BUSINESS WIRE)--May 10, 1998--Cashco Management, Inc. (OTC BB:CSHK - news) announced today that it has signed a binding Letter of Intent with Telanis Software Inc. for the exclusive worldwide license to sell, market and distribute a software program through Cashco's newly formed subsidiary, Catalyst Software Inc. (CSI). The program will provide Enhanced Personal Communications including, but not limited to such features as Real time Friend/Contact Online Awareness, Real time text chat interface, whiteboard and Real time file transfer. The software which is currently in development will include, when completed, eight (8) significant features. CSI also has the first option to purchase/and or distribute other retail and commercial software produced or manufactured by Telanis.
The Company is also pleased to announce the Mr. George Palmer has been engaged to handle the responsibility of distributing technology products for the Company. Mr. Palmer brings over 20 years of experience in the selling and marketing of high technology products and services. He has a thorough knowledge of current Internet/Intranet technology, implementation of multimillion dollar systems involving
voice recognition, multimedia development application tools, data base and applications across client serve architecture and systems linking worldwide facilities.
Based upon input from Mr. Palmer, the Company believes that the markets for the Telanis product will include Internet sales, the retail market and Bundleware sales. The price of the product will be
established at a future date. Scheduled release date of the Beta version of the product is August 1998.
Execution of the final agreement is contingent upon satisfactory results of the software and evaluation of its marketability by unaffiliated third parties. As consideration of the exclusive five (5) year license Cashco will pay a licensing fee of $250,000 over a six month period and CSI will issue to Telanis, 1,500,000 shares of its' Convertible Preferred Stock into Common Stock of Cashco.
The Company wishes to clarify an error made in a Corporate Review published March 6, 1998 in which it was erroneously stated that the Company traded on the NASDAQ Bulletin Board. The Company trades on the Over the Counter Bulletin Board; symbol CSHK. The Company regrets the error and apologizes for any misunderstanding.
Contact:
Cashco Management Inc.
905-898-0918 |
