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Wednesday March 17, 8:03 am Eastern Time
Company Press Release
Fronteer Financial Holdings, Ltd. Announces Formation of a Business Venture with Q6 Group, Ltd.
To Develop Opportunities in Transactions Processing, Networking, and Internet-Based Services
DENVER--(BUSINESS WIRE)--March 17, 1999-- Fronteer Financial Holdings, Ltd. (Fronteer) (OTC BB: FDIR - news) and privately held Q6 Group, Ltd. announced today the formation of a business venture which will focus on the development of business opportunities in technology-based virtual processing arenas. The new initiative, named Q6 Technologies, Inc., will focus initially on value-added transactions processing for selected e-commerce applications, as well as the development of commercial opportunities in digital Geographic Information Services (GIS) and in satellite Internet Protocol multicasting.
Q6 Technologies, Inc. will be headed by John J. Cusick, as Chairman and CEO. Mr. Cusick has an extensive background in the development of successful technology-based firms. He was the founder, chairman, and CEO of PrimeStar, the first digital satellite television service in the world. He launched PrimeStar from concept to its first million subscribers. The Company was recently sold for nearly $2 billion. In addition, Mr. Cusick was a founding director and investor in SSDS, Inc., a Colorado-based pioneer in client-server computer networking, which was sold to United Video Satellite Group in 1995. He has served as Director, President, and CEO of several other ventures, including the Swedish-owned Innova International Corporation, a $250 million revenue group of firms engaged in cellular telephony and networking services.
Fronteer Financial Holdings, Ltd. is a Denver-based holding company with consolidated entities that include American Fronteer Financial Corporation (AFFC), a regional securities broker/dealer headquartered in Denver with branches in New York; Chicago; San Francisco; Atlanta; Dallas; New Orleans; Reston, Virginia; Las Vegas; West Palm Beach; Colorado Springs; and Albany.
Fronteer also controls Secutron Corp., a computer systems and services company, and eBankerUSA.com, Inc. (eBanker). The formation of Q6 Technologies, Inc. represents the next step in the movement of several consolidated subsidiaries of Fronteer to web-based business strategies. The first step was the formation of eBanker, an Internet-based high-yield lending operation. The second step was the establishment of eBrokerUSA.COM, Inc. (eBroker), which plans to establish an on-line securities brokerage business.
Q6 Group, Ltd., the other principal in the business venture, is a privately held firm based in Princeton, N.J., which has made investments in computing networking, satellite broadcasting, digital telephone switching and bio-technology ventures.
The statements included in this press release concerning predictions of economic performance and management's plan and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.
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