Item 2. Acquisition or Disposition of Assets
On June 30, 2000, Anything Internet Corporation ("ANYI"), a Colorado corporation, acquired all of the shares of Inform Worldwide, Inc. ("Inform"),a Colorado corporation, for 3,000,000 outstanding shares of ANYI's common stock issued to the shareholders of Inform. The 3,000,000 ANYI shares represents 54.12% of the total outstanding common stock of ANYI.
Item 5. Other Events
Effective July 1, 2000, Edgar P. Odenwalder, III an Carole A Baumbusch were elected members of the ANYI Board of Directors. Effective July 1, 2000, Larry G. Arnold was named Chief Executive Officer of Inform and Donald Prosser was named Chief Financial Officer of Inform.
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ANYTHING INTERNET CORPORATION COMPLETES ACQUISITION OF INFORM WORLDWIDE, INC.
Colorado Springs, Colorado - June 30, 2000 - Anything Internet Corporation (OTCBB: "ANYI"), a publicly held e-service company, announces that it has finalized the acquisition of Inform Worldwide, Inc. a leader in internet-based location services, based in Englewood, Colorado.
The acquisition is a step by Anything Internet to position itself as a leader in the emerging L-commerce market. L-commerce combines Internet, wireless communications and locator technologies such as GPS to deliver location-aware applications for businesses and consumers. Industry analysts project L-commerce sales in the U.S. to be more than $4 billion by 2004.
Inform Worldwide syndicates location technology through its E-hub, a hardware and software environment optimized for processing location-based information. Inform's E-hub supports a variety of applications including internet-based asset tracking and geo-targeted e-commerce. As an ASP for new location-based services, Inform eliminates the technological and commercial barriers that have impeded broad-based deployment of applications.
Inform Worldwide has focused its research and development efforts in the area of internet-based geographic databases, tracking and monitoring. Inform presently works across multiple industries with well-known leaders such as Utilicorp, SAIC and Wackenhut. The Company is currently working with Anything Internet's technologies in event-based messaging to develop applications for the Internet and mobile devices such as WAP phones and personal digital assistants. The Company plans a 3rd quarter release of products that enable deployment of L-commerce applications to the mass commercial and consumer marketplaces.
Terms of the transaction are that Inform Worldwide is to receive 3 million shares of Anything Internet Common Class A stock. The acquisition is a pooling of interest and is a tax-free exchange of shares between the Companies. Due to R&D investment required in fiscal 2000 and 2001, the transaction is projected to be dilutive on a cash basis in 2000 and 2001 and accretive in 2002. Inform Worldwide will operate as a wholly owned subsidiary of Anything Internet.
Commenting on the acquisition, Larry Arnold, CEO of Anything Internet notes: "This business combination brings new meaning to L-commerce. For the first time, location awareness and personalized messaging capabilities will be available through an integrated ASP environment. We will generate revenues from access and usage fees for our E-hub solution as well as by reselling data packaged for industry-specific applications."
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Ed Odenwalder, President of Inform Worldwide added, "Our ability to localize applications by filtering content based on a user's location and then delivering maps through desktop or wireless devices moves us beyond the free services being offered by many vendors in today's marketplace. We will enable the next generation of location services that provide benefits for which users will willingly pay."
Donald Prosser, CFO of Anything Internet stated, "Inform Worldwide, Inc. has historically posted revenues in the area of $2 million, however as the Company emerges under the new business model, revenues are projected to grow to more than $6 million in the first year of operation."
Anything Internet Corporation, headquartered in Colorado Springs, Colorado, is a publicly held Internet e-services holding company. www.Anyreminder.com is the
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Company's consumer site, offering free personal and business reminder services and a daily planner. AnyReminder provides its customers with exceptional product choices, superior pricing and delivery options, and easy-to-use search and purchase capabilities.
Inform Worldwide, Inc., is a leader in the development of business applications that combine geography and the Internet. Inform develops cost effective, location-based services that enable customers to increase productivity, profitability and market share. The company's web site can be found at
informworldwide.com
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