To: interesting man who wrote (12172 ) 6/7/1999 8:00:00 AM From: Wayne Rumball Read Replies (3) | Respond to of 13776
BOCA RATON, Fla.--(BUSINESS WIRE)--June 7, 1999--Mortgage Depot Online Corporation announced today that the Company has agreed to a letter of intent to be acquired by Anderson Computers / Tidalwave Corp. (OTC BB:ACPTE). Upon closing of this acquisition, Mortgage Depot Online will be a wholly owned subsidiary of Anderson Computers / Tidalwave Corp. Mortgage Depot Online was founded by Byron Webb, the owner of the successful Webb Mortgage, a full service mortgage brokerage business that originates over $50 million per year in loan volume with its corporate headquarters located in Boca Raton Florida. Mortgage Depot will concentrate on generating mortgage origination's from their Internet web site. Webb will be the President of Mortgage Depot Online which is expected to be doing loan volumes in the 40 to 60 million dollar range within the next twelve months. Mortgage Depot Online will first be targeting Internet users within the state of Florida which has a total population of 14 million. Currently, more than 6 million of Florida residents have daily access to the Internet which makes Florida the perfect state for Mortgage Depot Online to launch its Internet based virtual mortgage company. Mortgage Depot Online will also work to obtain operations in other states such as Texas, New York, California as well as other states that have growth potential for the mortgage business. The growth potential for Mortgage Depot Online can be compared to the volumes and market share of the now famous E-Loan whose business is over the 1 billion dollar mark in mortgage origination's. Potential homeowners and mortgage shoppers will be able to apply online and have e-approval within seconds knowing the current mortgage rates fees and programs. Now you can begin handling your mortgage needs today by visiting the Mortgage Depot Online website at mortgagedepotonline.com Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. CONTACT: Anderson Computers / Tidalwave Corp. Investor Relations, 954/255-6753