Downstream Announces The Completion of the Audit on the Internet Sites to be Acquired and
The Date of the Proposed Closing
PR Newswire, Wednesday, May 19, 1999 at 09:33
SALT LAKE CITY, May 19 /PRNewswire/ -- Downstream Incorporated
(BB: DWNS) is pleased to announce that the audit of the six
profitable, internet pay sites to be acquired by Downstream has been completed
and the principles of both Downstream and Q-Seven Systems, Inc. are scheduled
to meet on Monday the 24th and Tuesday the 25th in Salt Lake City, Utah to
sign the documents finalizing the transaction between the two companies.
After Downstream acquires Q-Seven Systems, Inc., the above mentioned sites
(six of the largest, most profitable pay sites catering to the German speaking
market) and the rights to sell, license and market the Q-Seven User Management
Software on an exclusive, worldwide basis, Downstream will change its name to
Q-Seven Systems, Inc. and will apply for a trading symbol more closely related
to the Company's new name.
30 to 45 days after the above mentioned events have occurred, the Company
plans to have its shares trading on the Frankfurt Exchange in Germany, and to
commence an extensive public relations campaign in the United States, Canada,
and Europe.
Q-Seven's User Management Software can be used to run various kinds of
internet businesses. However, the management of Q-Seven has chosen to focus
its attention on the most lucrative fields therein -- online gaming, online
shopping and adult entertainment -- which are the fastest growing industries
on the net.
The management of Downstream cautions readers not to place undue reliance
on "forward-looking statements," such as "plans to," "is expected to," etc.
which speak only as of the date made, when used in this press release, in
filings with the SEC, in other public or stockholder communications, or in
oral statements made with the approval of an authorized executive officer of
the Company. Such statements are based on certain assumptions and
expectations which may or may not actually occur and which involve various
risks and uncertainties.
SOURCE Downstream Incorporated
-0- 05/19/99
/CONTACT: Barry Ellsworth of Downstream Incorporated, 801-916-1371; or
Philipp Kriependorf of Q-Seven Systems GmbH, 011-49-2173-330-3630/
Companies or Securities discussed in this article:
Symbol
Name
BB:DWNS
Downstream Inc |
