***PR***
Systems Communications, Inc. to Spin Off
International Health Care Solutions Inc.
Prior to Merger with Hitsgalore.com
PR Newswire - February 19, 1999 09:19
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
(SCMI) |
