Here is the phull release phrom yesterday:
Wednesday January 27, 9:01 am Eastern Time
Company Press Release
HyperDynamics and Modulan N.S. Inc. Sign Letter of Intent for Acquisition of Modulan N.S. Inc.
HOUSTON--(BUSINESS WIRE)--Jan. 27, 1999--HyperDynamics Corporation (OTC BB:HYPD) announced today that it has signed a non-binding letter of intent with Modulan N.S. Inc. (a privately held Texas corporation) to acquire 100% of Modulan's voting stock and thus making it the company's third wholly owned subsidiary. The acquisition is subject to due diligence and the execution of an acquisition agreement. The acquisition is anticipated for completion in February 1999.
Modulan has developed a state of the art line of modular fiber optic products that reduce the level of experience, components and equipment necessary for installing fiber optic networks. Compared to old approaches that utilize numerous complex components, Modulan's fiber concept reduces the components down to a total of five that easily snap together. This makes the ownership and utilization of these fiber optic networks more affordable and cuts installation costs substantially. Modulan has installed systems in industry giants such as Procter & Gamble (NYSE:PG - news) , Chevron (NYSE:CHV - news), Dupont (NYSE:DD - news), Omnes (a partnership of Cable and Wireless and Schlumberger NYSE:SLB), Texas A&M University, and The University of Pittsburgh Medical Center.
The acquisition of Modulan will allow HyperDynamics to fully realize its strategy of providing full system design, installation, cabling and integration for its clients. Modulan is a premier designer and implementation specialist of large complex networks. ''The Modulan modular fiber optic solution is the most affordable and reliable fiber network on the market today'', stated Johnnie Jordan (president for Modulan N.S. Inc.) He also stated that, ''Our modular fiber system concept will soon revolutionize the fiber industry. In part, because our modular systems provide the customer the flexibility and freedom necessary to install turn-key fiber plants, themselves. The resulting system will be higher performing and more efficient than any traditional fiber solution.''
The merger will combine HyperDynamics back office support and overlapping systems integration expertise with Modulan's technical expertise to create WAN's, LAN's and fiber optic solutions for large and mid-sized users. Through the use of value added reseller relationships, HyperDynamics will create additional revenue sources with the existing client bases of both companies.
HyperDynamics President and CEO Kent Watts stated, ''Modulan is an organization that will help us succeed in our mission to be the premier information technology services company. Modulan has the experience to design and install high quality fiber and copper cable plants. This will substantially enhance HyperDynamics' ability to provide end-to-end information technology infrastructures for its customers. Modulan's services coupled with MicroData Systems Inc.'s (a wholly owned subsidiary of HyperDynamics) gives our customers a single source of responsibility to handle any problems they may have with their information systems including the physical wire they run on.
HyperDynamics Corporation is the premier information technology services company that maximizes a business' return on its technology investment through proper system design, installation, management and software integration. HyperDynamics clients have included The Houston Space Center for NASA, Rockwell International (Boeing - NYSE:BA), Lockheed Martin Corp and Loral Systems (NYSE:LMT - news). HyperDynamics business plan calls for it to become the preeminent fiber optic and Network Solutions Company in the South Central United States. For more information, please visit the HYPD web site at www.hyd.net.
HyperDynamics Corporation intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the ''safe harbor'' provision of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including, without limitation, the actual closure and shipment of any sales orders disclosed herein, general technology market conditions, competition and pricing. For additional information, please refer to HYPD's Securities and Exchange Commission filing copies, available without charge via HYPD's Internet home page at www.hyd.net.
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Contact:
HyperDynamics Corporation, Houston
Michael E. Watts, 713/968-8934
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The gappa is coming...I may be off by a phew days (like I was with USRF, called phor $5 by Christmas and we didn't hit it until Dec 28th) THis is a strong company, and this acquisition will help them turn a profit in the next 6 months...
LOAD THE BOAT!!!
GO BIG OR GO HOME!!
PhattJake
phattjake@hotmail.com |
