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PACEL Corp. Signs Letter of Intent for the Acquisition of Internet Interview, Inc. -- www.Internetinterview.com --, an Internet Placement Company
MANASSAS, Va.--(BUSINESS WIRE)--Feb. 24, 1999--PACEL Corp. (NASD OTC BB: PLRP) announced today that it has signed a letter of intent to acquire all the outstanding stock of Internet Interview, Inc. that is accrete to shareholder value.
This is an Internet company that is specializing in identification of human resource capabilities for the Information Technology field and placement of these skilled personnel to help companies make the transition into the 21st century.
Internet Interview, Inc. had trailing revenues of approximately $200,000 during the past 12 months and is operating at or near breakeven and is expected to see substantial revenue increases as additional services come on-line.
Internet Interview is a multifaceted Internet highway to employment, for employers. Individuals can view job postings, company advertisements, hot link to companies web sites, review web sites on employment for states, cities, and regions that they may be interested in moving to, or simply get their resume listed in our database.
Companies can access our database for competent and capable people, advertise positions at all levels, use our recruiting and screening services, perform on-line interviews with video conferencing, and reduce the overall cost of recruitment while improving the level of personnel joining a company.
Internet Interview, Inc. has also initiated development of an additional site: www.liquidator.com for the marketing and sale of computers and systems to the database of Information Technology personnel and companies recruiting those individuals.
"We are extremely excited about working with the management of PACEL Corp. and assisting them with the implementation of their strategic plan for enhancing shareholder value in 1999. I am very impressed with PACEL's existing products and clients", stated Mr. Morsey, Vice President of Marketing & Sales for Internet Interview, Inc.
"By expanding PACEL's client base with our extensive database of companies, an increased revenue growth is readily achievable for both operations."
"The capabilities and marketplace being addressed by Internet Interview, Inc. are right on target with the goals and objectives of PACEL Corp." stated David Calkins, President of PACEL Corp. "This acquisition would clearly put PACEL Corp. in the mainstream of the information technology world and the personnel that make the decisions on hardware and software for the companies they will be joining."
ABOUT THE COMPANY
PACEL Corp. is a software development & systems integration company located in Manassas, Va. specializing in providing software products that improve business flow processes (order entry, inventory management, personnel management maintenance, etc).
PACEL's Power Smart(tm) Self Aware(tm) software systems provide the ability to use electronic documents that are involved in the day to day operations of any business. PACEL software provides personnel a powerful tool "Visual Writer System(TM)," a Self-AwareTM software that enables them to create Interactive electronic documents (NO Programming Required).
PACEL understands that these new electronic documents must fit seamlessly into the existing environment so that paper, legacy data and previous platforms are not left out. Yet the programs must still have a dramatically positive impact on corporate profitability.
Therefore, the ability to provide a complete solution including the hardware, and software systems, and integration of those systems with legacy programs is an integral part of the company's long-term strategy.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, competition, new products and technological changes, intellectual property rights and other risks.
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