PLSO - Plus Solutions and Global Capital Management to Form German Company; Global Commits $3,000,000 Euro to Project
ADDISON, Texas, Aug 3, 2000 (BUSINESS WIRE) -- Plus Solutions,
Inc.(OTCBB:PLSO)(Frankfurt Stock Exchange: DS9, WKN 936 219) today announced it
has signed a Letter of Intent with Global Capital Management of Frankfurt,
Germany, to form a new German company, Plus Solutions AG, to market the
Expressorder(TM) order management solution on an exclusive basis in Germany.
It is expected that Plus Solutions AG will be located in Frankfurt, Germany.
Under the terms of the Letter of Intent the closing is subject to the execution
of a definitive agreement and approval of both companies' Board of Directors.
The closing is set for August 10, 2000.
At the closing Plus Solutions, Inc. will make available to Plus Solutions AG the
use of its Expressorder(TM) system in exchange for $400,000 (USD). At that time
Plus Solutions, Inc. and Global Capital Management will each own 50% of the
common stock of Plus Solutions AG. Plus Solutions, Inc. will appoint a majority
of the Board members and will also receive a monthly management fee and an
overriding royalty on each transaction processed.
Global Capital Management will arrange a private placement for an additional
$1,600,000 (Euro) to be closed on or before September 30,2000. In addition,
Global Capital Management will raise an additional $1,000,000 (Euro) on or
before March 1, 2001 for Plus Solutions AG.
Under the terms of the Letter of Intent, one year from September 30, 2000 Plus
Solutions, Inc. will convert the shares of Plus Solutions AG into Plus
Solutions, Inc. common stock using a predetermined formula, but for no less than
$1.50 per share. After the conversion Plus Solutions AG will be a 100% owned
subsidiary of Plus Solutions, Inc.
Global Capital Management also will assist in the promotion of Expressorder(TM)
in Germany and the Plus Solutions common stock in the German marketplace.
Earlier this year Plus Solutions, Inc. listed on the Frankfurt Exchange.
Max L. Golden, Chairman and CEO of Plus Solutions, Inc., stated the following:
"The Plus Solutions business model lends itself quite readily to this type of
venture. All along we have positioned ourselves for geometric growth
opportunities. Germany is a great opportunity, has strong demand for services
like Expressorder(TM), a growing Web infrastructure, and many world class
business opportunities. Global Capital Management, with its financial and
marketing commitments to Plus Solutions AG, enhances our entry into the German
marketplace." Mr. Golden went on to say, "This represents a unique financing
structure for our shareholders with minimal dilution as compared to other
financing alternatives currently."
Andreas Schmidt of Global Capital Management made the following statement: "We
are very impressed with Plus Solutions and the opportunities their
Expressorder(TM) solution can generate. It allows Global Capital to build and
enhance many of its business opportunities."
About Global Capital Management
GCM is a German investment company specializing in financing the global new
economy. It is a major shareholder of companies in the media and entertainment
sectors. Activities are focused on building up a comprehensive portfolio of
investment in high potential Internet Companies. Founder of Global Capital
Management AG and main shareholder is Andreas Schmidt, the former youngest CEO
in Germany and a regular columnist in the German edition of Forbes in the early
90's. Andreas Schmidt is well respected in the German finance and press
communities.
About Plus Solutions
Plus Solutions provides Internet-based order management solutions under the
brand name Expressorder(TM).
Expressorder(TM) helps companies bridge and integrate the traditional bricks and
mortar business models with innovative tools in the electronic B-2-B
marketplace. This marketplace represents one of the largest business
opportunities in the 21st century. Expressorder(TM) is built around a
multi-vendor catalog that combines Internet functionality and electronic
capability to accomplish delivery of a client's single order to one or more
vendors. Expressorder(TM) is not industry specific and is scalable up to global
applications. It is an application that is marketed as a turnkey solution that
will work in any environment and only requires the user to have access to the
Internet and a current browser.
Plus Solutions offers its clients the ability to reduce transaction and
administrative costs associated with repetitive orders, as well as improve
productivity. Plus Solutions has previously announced strategic business
relationships with IBM, MMI Internetworking Inc, and MBH Technologies, Inc.
On behalf of the Board of Directors, Mr. Max Golden, Chairman and CEO
The matters discussed in this news release and, in particular, information
regarding future revenue, earnings and business plans and goals, consist of
forward-looking information under the Private Securities Litigation Reform Act
of 1995 and are subject to and involve risks and uncertainties which could cause
actual results to differ materially from the forward-looking informations, these
risks and uncertainties include, but are not limited to the availability of
additional working capital, additional technological developments, general
dependence upon and/or loss of key suppliers or customers, customer demand,
competitor competition including pricing and availability, concentrations of
credit risk, technological difficulties, risk of international operations
including exchange rate fluctuation and the regulatory and trade. environment
(both domestic and foreign). Investors should not put undue reliance on the
forward-looking statements.
CONTACT: Plus Solutions, Inc.
Max Golden, 972/687-0090
Fax: 972/687-0051
E-mail: info@plussolutions.com
Website: www.plussolutions.com |
