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TradeLink suspends Mexico operations in order to focus on ExpoLink in US;
refutes rumors related to Nasdaq application
BusinessWire, Thursday, February 27, 1997 at 13:02
MIAMI--(BUSINESS WIRE)--Feb. 27, 1997--TradeLink International
Inc. (OTC:TRLK) announced Thursday that it has suspended its
operations in Mexico City and relocated its interactive voice
equipment to the United States, in order to focus on the U.S.
commercialization of ExpoLink, TradeLink's interactive voice service
for the trade show, expo and conference industry.
Although the company announced on Jan. 28, 1997, among other
things, that it expected to fill its Mexican interactive voice system
to capacity by the end of the year, the subsequent opportunity to
accelerate the launch of ExpoLink resulted in a reallocation of
resources. TradeLink is hopeful that its ExpoLink activities will be
more productive and ultimately more profitable than its Mexican
operation, and may reevaluate opportunities in Mexico at some future
date. All possible joint venture discussions and other pending
Mexican transactions have been terminated but relationships with
Mexican contacts are believed to remain good. Because TradeLink had
not yet aggressively commenced its marketing plan for Mexico prior to
this decision, and because sales to date had been nominal, management
does not expect this decision to have a materially adverse impact on
TradeLink.
TradeLink also announced that, contrary to a rumor that has been
brought to its attention, it has not submitted an application to the
Nasdaq Stock Market for quotation. Management was made aware
Thursday of a possible rumor that TradeLink had submitted such an
application and that it had been denied by Nasdaq. As previously
announced, TradeLink intends to file a registration statement under
the Securities Exchange Act of 1934, as amended, as quickly as
possible following the completion of the audited financial statement
for its fiscal year ended March 31, 1997. Once that registration
statement has been declared effective by the Securities and Exchange
Commission (as to if or when there can be no assurances), TradeLink
will evaluate whether it meets the initial listing criteria for
quotation on the Nasdaq SmallCap Market, and will apply for listing
on that market at such time that it believes itself qualified. There
can be no assurance as to when those listing criteria will be met by
TradeLink or if it will otherwise be accepted for quotation by Nasdaq,
but Tradelink is hopeful that this will occur by the end of calendar
1997. TradeLink had hoped that it would apply for listing by the
end of 1996, but a change in its fiscal year from Aug. 31 to
March 31 and a delay in the implementation of its business plan
caused the company to reevaluate this timetable.
TradeLink is an interactive communications company dedicated to
bringing marketing and communications solutions to domestic and
international business. |
