PNAC
ATLANTA--(BUSINESS WIRE)--June 8, 2000--Penn-Akron, Inc. (NASDAQ
OTC BB: PNAC) d/b/a Globalseer, Inc. (http://www.globalseer.com), an
innovative Educational Technology Integrator, announced today that it
has secured a Letter of Intent to acquire Children's Heroes, Inc., a
school community-based Web to Point-of-Sale fundraising integrator.
This acquisition adds localized fundraising to the Company's arsenal
of education technology funding solutions.
With this acquisition, Globalseer anticipates accelerating the
national delivery of its already-successful, learning enrichment
systems. Beginning in Fall 2000, K-12 schools will receive subsidized
Web-based learning tools and in-class multimedia technology solutions
from Globalseer. Children's Heroes' localized volunteer marketing
systems, transaction-based shopper rewards and Web-to-POS marketing
will bring local parents, schools and merchants closer together to
help local schools capture funding through shopping.
"It's all about partnership in the community. When a local
business builds a reason for the customer to shop for the benefit of
their child, and see the results locally, a lasting relationship
starts. Parents team up in a way that builds the merchant's business,
and the child wins," said Chris Hutcherson, President and CEO of
Children's Heroes. "It takes feet on the street with children in their
heart to make it happen. We're a dot com with the most motivated sales
force in the local community -- the volunteer parents working for the
benefit of their children."
"The Web portals are producing some results, but let's face it ...
the overwhelming majority of shopper-driven fundraising still happens
at local stores. That's where America shops. The facts behind the
recent venture cap frenzy surrounding K-12 school fundraising portals
reveals that fundraising is essential to reduction of education budget
gaps. The dot coms have received most of the press in recent months,
but the local `bricks and mortar' community around the school produces
the biggest results. Product fundraising sales alone is over $3
Billion a year --- and some schools raise as much as $120,000 during
the year via baked goods, gift wrap and candy sales."
"Globalseer's pilot program rollout is projected to deliver in the
year 2000 over $20 Million in funding (both federal grants and
matching funds) just in Georgia alone. Combined with Children's Heroes
marketing systems, Globalseer offers new fundraising solutions for
schools through online and offline - any way the schools prefer to
raise funding for education."
"By working closely with schools, we improve the power of each
school's local fundraising marketing. Then we make it easier for any
consumer to participate through a variety of channels. We are giving
our schools access to a suite of new and powerful funding tools for
education enrichment requiring less work for the schools, business and
consumers in the school's local community. By saving time, resources
and money, we think we've got an exceptional program for the Nation's
K-12 schools."
About the Companies
Globalseer, Inc., provides a single-source for media technology,
curriculum enhancement and fund raising solutions to educators,
students, and businesses. Company solutions include a compilation of
learning enhancement tools, educational materials, video libraries,
programs and multimedia resources. Turnkey systems including
equipment, networks, training and support; deliver
curriculum-enhancing multimedia content and lesson planning tools
directly to the classroom. Much more than just an Internet access
provider or a video-on-demand vendor, Globalseer provides fully
functional integration to a whole universe of educational resources.
Children's Heroes and its multiple strategic partners provide
access to competitively priced products, services, and subscriptions
sold over the Internet and at the Point of Sale. Every dollar
consumers spend with participating merchants, telecom companies, or
portals generate fund raising income for schools, classrooms, teams,
and other community based youth groups.
Except for factual statements made herein, the information
contained in this press release consists of forward-looking statements
that involve risks and uncertainties. The Company's actual results
could differ materially from those contained in such statements.
Factors that could cause or contribute to such differences include
unexpected shortages of critical components, rescheduling or
cancellation of customer orders, the timing and market acceptance of
new product introductions by the Company and its competitors, and
general competition and price pressures in the marketplace. Reference
is also made to other factors set forth in the Company's filings with
the Securities and Exchange Commission..
--30--lk/at*
CONTACT: Globalseer, Atlanta
Richard Craig Hall, 941/341-0136, Fax: 941/921-2821
rchall@globalseer.com
KEYWORD: GEORGIA
INDUSTRY KEYWORD: INTERNET TELECOMMUNICATIONS
COMPUTERS/ELECTRONICS
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