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Microcap & Penny Stocks : USRF - Wireless Internet Access
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To: Bill C who wrote (405)12/18/1998 11:08:00 PM
From: Sly_   of 956
 
Today there was a second press release:

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Friday December 18, 11:47 am Eastern Time
Company Press Release
USRF Not Entering the Oil and Gas Business
BATON ROUGE, La.--(BUSINESS WIRE)--Dec. 18, 1998--Internet Media Corporation (OTC BB: USRF) announced today that it has acquired 400,000 shares of stock of Argo Petroleum Corporation (Argo), a Kentucky-based private oil and gas exploration company. In connection with the acquisition of the Argo stock, the USRF board of directors declared a dividend of the Argo stock and will distribute the Argo stock to USRF shareholders of record on Jan. 15, 1999. The dividend distribution is to be registered with the SEC and USRF will retain no interest in Argo Petroleum. The Company is not entering the oil and gas business; it is simply facilitating Argo's becoming publicly owned, while adding value to USRF's stock.

''We are believers in this method of becoming publicly owned, and we intend to search for other privately-owned companies in which to acquire stock and distribute those shares to our shareholders,'' said David Loflin, USRF's president. It's just another way in which we are trying to provide value to our shareholders,'' Mr. Loflin added.

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