MGCN...Press Releases
MegaChain.com, Ltd.
34 West 8th Avenue, Vancouver, British Columbia
Canada V5Y 1M7
Tel: 604 873-3388 Fax: 604 873-0674
PRESS RELEASE
VANCOUVER, BRITISH COLUMBIA April 19, 1999 Tom Lavin, president of Formquest International, Ltd., announced today that Formquest International, Ltd. has completed a corporate name change. The new name of the company is MegaChain.com, Ltd., [“MegaChain or The Company”], a business engaged in developing Internet, E-commerce advertising software that offers a viable alternative to banner advertisement.
Mr. Lavin, who will continue in his roll as President and CEO of MegaChain.com stated further that MegaChain has also been granted a new NASDAQ OTC trading symbol, “MGCN”. Mr. Lavin went on to state that the offering undertaken by the Company last month was fully subscribed. Pursuant to this offering, 2,000,000 shares will be issued to subscribers. Mr. Lavin said that at present, MegaChain has operating capital of approximately US$1,000,000 and no appreciable debt.
Mr. Lavin further stated that the services of John J. Formicola, past President of Formquest International, Ltd., have been retained by MegaChain. Mr. Formicola will assist the Company by introducing his associates within the investment community to the MegaChain opportunity and helping structure future Company financings. Mr. Lavin also said that a previous director of MegaChain, Mr. Oren Breitman, resigned as a director of the Company on March 1, 1999. At the present time the officers of the company are: Tom Lavin, President; Bill Lavin, Vice President and Secretary-Treasurer; and Don Steele, Director.
MegaChain operations are presently in the development stage, however management of MegaChain advises that its web site will be publicly accessible within 14 days and management further believes that on-line beta testing will occur within the 30 days following.
The MegaChain advertising system will be accessible via the MegaChain web site to both clients and agents who will work in concert to disseminate product information and sponsor incentives via e-mail. Mr. Lavin stated further that “Agents for MegaChain.com will be remunerated for generated responses to sponsor offers via an automated system of multilevel commissions. Vendors will benefit because they are invoiced only for measurable results.” In the opinion of Mr. Lavin and MegaChain executives, no other form of advertising offers this feature.
Mr. Lavin also mentioned “Other MegaChain innovations will include commissions generated through electronic catalogue sales, direct product sales and a “stand-alone” software suite for those vendors wishing to engage MegaChain's multi-level, incentive driven advertising without having to resource services outside their existing corporate information systems.”
MegaChain's business is primarily located in Vancouver, British Columbia, Canada. The Company's address is 34 West 8th Avenue, Vancouver, British Columbia, Canada V5Y 1M7, telephone 604 873-3388, fax 604 873-0674.
MegaChain.com is traded on the OTC Electronic Bulletin Board under the symbol “MGCN”. For further information contact Tom Lavin at 604 873-3388.
Cautionary Statement Under ‘Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995: Statements made in this fact sheet contain information about the Company's future business prospects. These statements may be considered “forward looking”. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by such forward looking statements.
FORMQUEST INTERNATIONAL, LTD.
34 West 8th Avenue, Vancouver, British Columbia
Canada V5Y 1M7
Tel: 604 873-3388 Fax: 604 873-0674
PRESS RELEASE
VANCOUVER, BRITISH COLUMBIA March 3. 1999 Tom Lavin, newly appointed president of Formquest International, Ltd., [“Formquest” or the “Company”], announced today that Formquest entered into an agreement to acquire a Canadian corporation which owns the rights to and operates MegaChain.com, a business engaged in operating a suite of Internet, E-commerce software that offers a viable alternative to banner advertisement. Mr. Lavin stated further that MegaChain products will soon be accessible via the MegaChain web site to both clients and agents who will work in concert to disseminate product information and sponsor incentives via e-mail.
Mr. Lavin, who is also presently president of MegaChain.com stated further that “Agents for MegaChain.com will be remunerated for generated responses to sponsor offers via an automatic system of multilevel commissions. Vendors will benefit because they are invoiced only for measurable results.” In the opinion of Mr. Lavin and MegaChain executives, no other form of advertising offers this feature.
MegaChain operations are presently in the development stage; however management of MegaChain advises that its web site will be accessible within sixty days and management further believes that beta testing will occur within the sixty days following.
Mr. Lavin also mentioned the “Other MegaChain innovations will include commissions generated through electronic catalogue sales, direct product sales and a “stand-alone” software suite for those vendors wishing to engage MegaChain's multi-level, incentive driven advertising without having to resource services outside their existing corporate information systems.”
Mr. Lavin also said that the previous officers and directors of the Company, including Mr. John J. Formicola, the former president and chairman of Formquest, resigned from the company on February 17, 1999 and the new officers of the company are: Tom Lavin, President, Bill Lavin, Vice President and Oren Breitman, Secretary-Treasurer. Each of the foregoing together with Donald Steele has been elected as the directors of the Company to fill the vacancies of the former directors.
Mr. Lavin stated further that the Company will change its name in the near future to reflect its new business. He also stated that Formquest sold off its prior subsidiary, Northern Lights Software Ltd. [NY] and was looking for a new business to fill the void caused by the sale when the transaction with MegaChain was signed. He said that Formquest was basically inactive prior to its agreement for the acquisition of MegaChain.com and that the purchase of the MegaChain business would be, in his opinion, beneficial to the Company and its shareholders.
Formquest's business will hereafter be primarily located in Vancouver, British Columbia, Canada. The Company's new address will be 34 West 8th Avenue, Vancouver, British Columbia, Canada V5Y 1M7, telephone 604 873-3388.
Formquest is traded on the OTC Electronic Bulletin Board under the symbol “FMQS”. For further information contact Tom Lavin at 604 873-3388.
Cautionary Statement Under ‘Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995: Statements made in this fact sheet contain information about the Company's future business prospects. These statements may be considered “forward looking”. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by such forward looking statements. |
