This symbol formerly was THCX...I am a fan of their convergent technology and this release
came out a few minutes ago. Presently at 1.19/1.31 on 14k.
CDKNET.COM Hires Commonwealth Associates as
Special Advisor Following Acquisition Offers
GARDEN CITY, N.Y.--(BUSINESS WIRE)--Jan. 4, 1999--CDKNET.COM Inc.,
(OTC BB:CDKX)(the ''Company'')
announced today that it has retained the services of Commonwealth Associates, a New
York based investment bank, to act as
an advisor in evaluating whether to accept competing offers which have been made to
acquire a controlling interest (up to
100%) in the Company, or to pursue other alternatives.
Recently, the Company, which markets its proprietary technology for use in audio, video
and e-based business related
multi-media projects, has been approached by two different groups of prospective
acquirers seeking to acquire the Company's
convergent technology CDK (''CDK™'') and its e-commerce based businesses. At least
one of the prospective purchasers
has offered a substantial premium per share above the current market price. ''Each of the
potential acquirers presents its own
special strategic opportunity in the implementation of the CDK business strategy,'' said
Steven A. Horowitz, CEO and
President of CDKNET.COM Inc. ''The Company's Board of Directors is evaluating
whether accepting any of these offers is
in the best interests of the Company's shareholders, and we have retained Commonwealth
Associates as our advisor to assist
us,'' Horowitz concluded.
The CDK™ technology is a convergent technology which combines Internet browser
functionality, ''Red book'' quality audio,
and full screen-full motion video in one platform that has broad application for the
multimedia marketing, advertising and
promotion areas, music and entertainment industry and music industry special projects
business.
This press release contains forward-looking statements. Such statements are subject to
certain risks and uncertainties and
actual results could differ materially from those expressed in any of the forward-looking
statements.
CDKnet, CDK and Game Player and Metrotainment are registered trademarks of
CDKnet, LLC
Contact:
CDKNET.COM Inc., Garden City
Steven A. Horowitz, 516/222-2345
Fax: 516/222-2665
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