ALL:
Subj: NIAR SPEC - thur morn
Date: 11/5/98 0:41:34 AM EST
From: stockman@megahits.com (LeRoy Stockman)
To: stockman@megahits.com
Sub: IRAE Fr:Tony
LeRoy,
this news note about IRAE might be of interest to our members.
Tony
ORLANDO, Fla., Nov. 3 /PRNewswire/ -- International Resorts and
Entertainment Group, Inc. (OTC Bulletin Board: IRAE) has signed an
agreement to merge with Ybor City Shuttle Systems, Inc. (OTC Bulletin
Board: YBCS), a fully reporting company in the transportation business,
and Raven Moon Entertainment, Inc. The transportation company was
formed in 1998 to run shuttle services to tourist locations in Tampa,
Florida, and anticipates expanding to other cities around the United
States. Because the transportation company is not yet operational and
is newly formed, it has no operating history to report. The
transportation division expects to generate revenue from passengers and
from billboard-size advertising on the buses. The advertising medium
will facilitate the marketing of products for the record company. Raven
Moon Entertainment, Inc. was formed in 1997 and has produced a number of
musical CDs and television programs, which are now available to market
to the public. I! t has no prior operating history.
The surviving company of the merger shall be the transportation company,
which intends to change its name to Raven Moon International, Inc. The
new parent public company will have several subsidiaries including the
following:
* Raven Moon Entertainment, Inc. -- a development company for television
and film productions
* Raven Moon Music, Inc. -- a production company for music publishing
and artist management
* CustomTone Hearing Corporation -- a manufacturer of innovative hearing
devices marketed through the dental industry
* USA Shuttle Services, Inc. -- a transportation system catering to the
metropolitan areas of the country
The terms of the merger agreement provide that for each fifteen (15)
shares of IRAE stock outstanding, one (1) share of the surviving
company's stock will be issued. Raven Moon Entertainment, Inc.
shareholders and Ybor City Shuttle Systems, Inc. shareholders shall
receive one (1) share in the surviving company for each share presently
held. The Board of Directors and stockholders of the company have
approved the merger. Each of the IRAE shareholders will receive 54.3%
of the shares of stock of the surviving company. Ybor City Shuttle
System shareholders will receive 33.5% of the shares of stock of the
surviving company. Raven Moon Entertainment Inc. shareholders will
receive 12.2% of the shares of the surviving company.
Disclaimer
This release contains "forward-looking statements" that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that in known
and unknown risks, uncertainties and other factors may cause actual
results and performance of achievement of International Resorts and
Entertainment Group, Inc. and its subsidiaries to be materially
different from any future results or performance of achievement
expressed or implied by such forward-looking statements. There can be
no assurance that any of the business dealings described in this release
will commence, or if commenced, that they will be completed, or if
completed, that they will be successful.
SOURCE International Resorts and Entertainment Group
/CONTACT: Joey DiFrancesco, International Resorts and Entertainment
Group, Inc., 407-805-9131/ /Web site:
internationalresorts.com (IRAE YBCS)
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
LeRoy,
Will you kindly explain to me how the merger of IRAE with YBCS will benefit
NIAR stockholders. Seems to me like the smooth talking Joey DeFrancisco is at
it again. Anybody notice the photocopies we have received for end of years
statements from "M. Smoothtalker" himself?
Art T
reply: Art, I am not sure what the hell is going on....I have not heard
from NIAR,
IRAE, or any of them....anything I hear I pass on to our members...
LS |
