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February 19, 1999 09:19
Systems Communications, Inc. to Spin Off International Health Care Solutions Inc. Prior to Merger with Hitsgalore.com
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CLEARWATER, Fla., Feb. 19 /PRNewswire/ -- Systems Communications, Inc. (OTC Bulletin Board: SCMI) announced today that it will transfer all of the Company's business, property and assets to International Heath Care Solutions Inc. ("IHSI"), a newly formed subsidiary of the Company. IHSI will be spun-off with 100% ownership to the Company's stockholders prior to the Company's merger with Hitsgalore.com.
The current management at SCMI is taking this and other steps consistent with the agreement with Hitsgalore.com in order to focus all the firm's energy and resources on the Internet and on Hitsgalore.com's proprietary "search technology" and other services under development by Hitsgalore.com.
Hitsgalore.com (http://www.hitsgalore.com) is an Internet company based in Rancho Cucamonga, CA. The firm has been growing rapidly since coming out of beta with its new search engine this past year. The primary business model of Hitsgalore.com incorporates both advertisers and sponsorship sales. According to Steve Bradford, CEO of Hitsgalore.com, "We have exceeded our internal forecasts for the first and second months following beta testing, and we believe we should continue our dramatic growth with the many exciting projects to be released soon." Hitsgalore is also negotiating a major co-branding deal that could bring major market recognition and help establish Hitsgalore.com as a major player in search technologies and services.
Hitsgalore.com is adding to its present staff of 17. In addition to its current offices and call center, it is also completing a lease on an additional 8,500-square-foot space to house its new technology center for training, research and development. The new center will also include a full sound stage and video studio for many of the new and exciting interactive services it will be offering at its website.
Systems Communications, Inc., has spent extensive time and effort looking at potential merger partners and selected Hitsgalore.com because of its unique business model of generating income from its traffic while providing every visitor with a "free" experience. Ed Salmon, Chairman of SCMI, said, "It is a very unique business model that could generate revenues with nearly every visit. The earning potential is excellent, and SCMI and its stockholders should be excited about being in position for solid growth and profit with Hitsgalore.com and its Internet technology.
Financial Statements in this press release other than historical facts are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E, of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company 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 harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.
SOURCE Systems Communications, Inc.
/CONTACT: Edwin B. Salmon, Jr., Chairman of the Board, Systems
Communications, Inc., 727-530-4800/
/Web site: hitsgalore.com
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