(COMTEX) B: CITX RETAINS PORTER WRIGHT MORRIS & ARTHUR AS PRINCIPAL C
B: CITX RETAINS PORTER WRIGHT MORRIS & ARTHUR AS PRINCIPAL COUNSEL FOR ITS CBQ
MERGER, UP COMING INTERNATIONAL BUSINESS VENTURES, AND OTHER Corporate Matters
QUAKERTOWN, Pa., May 17 /PRNewswire/ -- CitX Corporation of
Quakertown, PA, today announced that its Board of Directors have
retained Porter, Wright, Morris & Arthur of Washington D.C., as its
corporate attorneys. The new law firm will handle all major business
matters, including mergers, acquisitions, securities matters,
governmental affairs, international business, and litigation. Initially
the firm will focus on expediting the due diligence, and other related
matters of the proposed merger between CitX and CBQ Inc.
James R. Hagerty of Porter, Wright, Morris & Arthur will lead the legal
team, and directly interface with the CitX Board of Directors. CitX
will also continue to retain the firm of Stephen G. Maliszewski,
located in Blue Bell, PA, as its general business counsel.
Porter, Wright, Morris & Arthur, an internationally recognized law firm
with roots dating to 1846 in the Midwest, provides a full range of
legal services to its large and varied client base. The firm has
nearly 250 attorneys practicing in Cincinnati, Cleveland, Columbus,
Dayton, Ohio; Washington, D.C.; and Naples, Florida. The firm is
general counsel or principal outside counsel to numerous privately and
publicly held enterprises, including major public utilities, bank
holding companies, an international research institution, mining
companies, oil and gas producers and suppliers, real estate developers,
construction contractors, manufactures and suppliers, insurance
companies, retail sales corporations, venture capital funds,
professional associations, conservation organizations, and various
charitable and religious organizations.
About CitX
CitX Corporation is a privately held, leading high-tech company
that develops and markets integrated Web-EDI and XML enabled, B2B
(Business-to-Business) and C2B (Consumer-to-Business) e-Commerce and
e-Business solutions, Community-Centric Vertical Portals, and
Network-Centric Web-hosted Applications.
CitX provides its products and services via the Internet, VPN's, and
corporate Intranets, through a unique subscription-based e-Business
Platform, resulting in zero-cost-of-ownership, fast implementation, and
enterprise-wide scalability. CitX has proven the success and
profitability of its subscription-based fee-for-service revenue model
for the past 3 years, in supplying robust Internet-based B2B and B2C
e-Commerce services, to small businesses, as well as multi-national
corporations.
Specific focus has been placed on providing integrated enterprise wide
solutions to the healthcare, insurance, banking, legal, and
retail-trade sectors. Services include, Internet-based Electronic
Payment Collection/Disbursement Services, Integrated Bill Presentment
Services, Electronic Messaging, Automated Procurement/Order Fulfillment
Platforms, Middleware Enterprise Crosswalks, Secure International
Transaction Processing Services, Web-based B2B Platform Monitoring
Services, EC-Enabled Vertical Auction Platforms, EC-Enabled Vertical
Auction Platforms, Vertical B2B Portal Platforms, and Web-based
Business-Centric Software Application Platforms.
CitX's management team has more than 8 years experience in providing
Web-Hosted software applications, Electronic Commerce solutions, and
Community-Centric Portals. Most noteworthy, is a unique e-Commerce
enabled Vertical Portal, featuring a integrated Network-Centric
software application designed for use by Medical Societies, Hospitals,
Physicians, and others in the Healthcare sector.
CitX has formed strategic relationships with Redix, NCR Corp., Priority
One ECC, Bell Atlantic, Alternative Link, Zonics, and others to
effectively deploy secure Internet-based, Business-to-Business
Electronic Commerce, Community-Centric Portals, and Web-hosted software
applications, for small businesses as well as the corporate enterprise.
Primary markets serviced are B2B, Healthcare, Insurance, Banking,
Legal, Retail, Organizations, and the Government.
Recently, CitX Corporation had entered into a merger agreement with CBQ
Inc., publicly traded as (OTC Bulletin Board: CBQI), of Dallas TX, to
build a world-class B2B E Commerce company. Under the terms of the
Merger CitX will receive a 66% equity stake in CBQ, and will head up
the corporate management team. The transaction is in final stages of
due diligence by the Board of Directors of each company, and should be
completed soon.
For more information, contact CitX Corporation at 215-538-3535, by
email at bernie@citx.net, or visit the CitX Web Site at
citx.net.
SOURCE CitX Corporation
-0- 05/17/99 /CONTACT: Bernie Roemmele,
CEO and Chairman of CitX Corporation, 215-538-3535, or bernie@citx.net/
/Web site: citx.net
CO: CitX Corporation; CBQ Inc. ST: Pennsylvania IN: CPR SU:
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