This should answer many FOCS questions, if one reads between the line. To me, the future looks very bright and the FOCS trend should be upward! I wish for a slow, but sure, move upward. But, still we wait!
Many thanks,
"CRAZY JAKE" JUSTUS
___________________________________________________________
FOCS NEWS! May answer many questions, if you read between the lines!
[FOCS]
jakejustus [206.155.221.153]
badassjake@hotmail.com
Reported for informational purposes only, and not for re-sale, profit and/or personal gain:
>>>
FiberChem and Intrex Obtain Bridge Funds Commitment,
Schedule Agreement Filing
May 4, 2000 11:22 AM Eastern Time
LAS VEGAS--(BUSINESS WIRE)--May 4, 2000--FiberChem Inc. FOCS today
announced that it has obtained a commitment for bridge financing to assist in the
consummation of the business combination of FiberChem and Intrex Data
Communications Corp. of Vancouver, British Columbia, and Dallas.
FiberChem is to be renamed DecisionLink Inc., which will continue to be traded on
OTCBB.
Geoff Hewitt, chairman and CEO of FiberChem, said: "With the assistance of RP&C
International, of London and Dallas, we have been able to secure a commitment for
bridge financing on terms acceptable to both FiberChem and Intrex.
"This short-term funding allows us both to continue the process of integrating the
operations of the two companies, while completing the various regulatory steps along
the way. We have worked successfully with RP&C in the past and are pleased to be
working with them again."
David Peachey, CEO of Intrex, also announced that Intrex is scheduling its filing of the
arrangement agreement for the combination of the Intrex and FiberChem businesses
into DecisionLink with the Supreme Court of British Columbia for the week of May 15,
2000.
Hewitt said: "The two companies are now working on a number of large projects
together and are beginning to combine a number of operations. We are currently
setting up an integrated financial system and a common information network.
"We are developing a Web site for DecisionLink that we expect to introduce upon
completion of the merger. The employees and management of FiberChem are very
excited about the opportunities presented by this new business. We find that there is
a tremendous amount of synergy between us and we share common goals."
Peachey said: "We are very much aware that both the FiberChem and Intrex
shareholders are anxious to see the combination of our two companies. Although the
delays have been lengthy, we believe the path is now clear to complete this business
combination. The complexities of solving the tax and corporate issues of several
jurisdictions has taken both time and work by both companies' professional advisors."
Peachey continued, saying: "These administrative delays have not slowed down the
development of Intrex's business, and we will now be able to make a much larger
contribution to DecisionLink. It has always been important to both Intrex and
FiberChem that DecisionLink starts off with a solid base to build from.
"We have developed several key strategic alliances over the past six months that will
help us achieve that. We hope to be in a position to complete and announce some of
these partnerships within the next few weeks."
Intrex is a private company that provides proprietary Internet and communications
technology for communicating data to or from remote or mobile assets on a real-time
basis using wireless, satellite and cellular data systems.
Data is routed through Intrex's global network, which acts as a data gateway and
applications service provider allowing customers to monitor and control remote or
mobile assets such as gas wells, pipelines, compressors, storage tanks, offshore
platforms or service vehicles directly from a desktop PC.
Intrex is a licensed reseller of the Orbcomm Global LP low earth orbit or LEO satellite
data and messaging communications services. Orbcomm is a partnership owned by
Orbital Sciences Corp. and Teleglobe Inc. of Canada. Intrex also has communications
agreements that provide satellite services through Norcom Inc., as well as digital
cellular services.
FiberChem develops, manufactures, markets and licenses fiber optic chemical
sensors that produce continuous, real-time information of environmental pollutants in
the air, water and soil. These technologies are currently used in applications such as
pipeline leak detection, aboveground storage tank monitoring, oil production, water
quality monitoring and industrial wastewater compliance monitoring and control.
This release includes forward-looking statements relating to the company's operations
that are based on management's and third parties' current expectations, estimates
and projections. These statements are not guarantees of future performances and
actual results could differ materially. The statements in this release regarding FCI's
proposed business combination with Intrex, the proposed bridge financing and the
combined entity's delivery of services over the Internet, are forward-looking statements
that involve risks and uncertainties. These risks and uncertainties include FCI's ability
to complete the combination and the bridge financing, the combined entity's ability to
market its services using the two companies' technologies, the timely development
and acceptance of new products, final promulgation and enforcement of regulations,
the impact of competitive products and pricing, the timely funding of customers'
projects, customer payments to the company and other risks detailed from time to
time in the company's SEC reports.
mra/la
CONTACT: Continental Capital & Equity Corp. Scott A-B Gibson, 407/682-5151
E-mail: scott@insidewallstreet.com www.insidewallstreet.com (Click on Special
Situations)>>>EOPRM>>>
>>>
This was NOT a part of today's Public Release:
Bridge Loan=A short-term loan, also called a swing loan, made in anticipation of intermediate-term or long-term financing.>>>EOM>>> |
