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PKH is continuing its process of facilitating over $200 million in capital investments to 50 different publicly and privately owned companies in the United States, Canada and Hungary and most recently acquired 2.3 million shares of Quintek Technologies, Inc., (OTC Bulletin Board: QTEK - news) another California technology company.
Penny King Holdings Corporation to Acquire 3,000,000 Shares Of eKnowledge Group, Inc. for $1.5 Million
WASHINGTON and CORONA, Calif., Jan. 2 /PRNewswire/ -- Penny King Holdings Corporation, (PKH) a Delaware private investment holding company and eKnowledge Group, Inc. (OTC Bulletin Board: EKNO - news) jointly announced today that (PKH) has entered into a letter of intent to acquire 3,000,000 shares of eKnowledge Group, Inc. common voting stock in a private transaction valued at $1.5 million.
The transaction is subject to a Definitive Agreement being signed by no later than January 16th, 2002 and a Closing Date of January 31st, 2002.
PKH and EKNO have entered into discussions for a licensing arrangement for a new technology commonly known as ThoughtWare as it applies to the field of education. ``This technology will allow users of any handheld or desktop device to communicate commands to their computers without a keypad, mouse, keyboard or voice recognition,'' a spokesperson for PKH stated.
Background research on present applications of older versions of this new advanced technology may be found at ibva.com .
``We have chosen to invest in eKnowledge Group, Inc. because of their track record of excellence, their commitment to modernizing the systems of education, and the outstanding integrity of the Board of Directors and its Officers'', said Mr. Acs, President of PKH.
``Mr. Acs is a truly one-of-a-kind figure with an immensely bold vision for the future,'' said Gary S. Saunders CEO of eKnowledge Group, Inc., ``We are excited to work with Penny King Holdings and expect great things to develop out of this relationship.''
About Penny King Holdings Corporation
Penny King Holdings Corporation is a private Delaware Investment Holding Company owned and controlled by Hungarian born financier Gabor Sandor Acs who has 21 years experience in the finance, real estate, venture capital, and world financial markets.
PKH has exclusive Western Hemisphere distribution rights to a whole new series of technologies under agreements with The Free and Clear Foundations of America, Inc. a DC-based non-profit organization.
PKH is continuing its process of facilitating over $200 million in capital investments to 50 different publicly and privately owned companies in the United States, Canada and Hungary and most recently acquired 2.3 million shares of Quintek Technologies, Inc., (OTC Bulletin Board: QTEK - news) another California technology company.
More information may be found by visiting thepennyking.com .
About eKnowledge
eKnowledge Group, Inc. is a multifaceted e-learning provider with content in the corporate and local government compliance areas as well as other e- learning offerings. eKnowledge also facilitates customized e-learning by designing or implementing other organizations' training, education, marketing, and other programs for delivery over the Internet or on CD-ROM or DVD.
For additional information, visit the company's website at eknowledge.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words ``believes,'' ``expects,'' ``anticipates'' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of eKnowledge Group Inc. (the company) to differ materially from those expressed or implied by such forward-looking statements (such factors include, among others, the risk factors contained in the company's Annual Reports and other filings with the Securities and Exchange Commission). In addition, a description of anyone's past success, either financial or strategic, is no guarantee of future success.
The company will remain dependent upon future financing for its growth and development, and for it to successfully implement its business plan. No statement contained herein should be construed as indicating that such financing is or will be available, and if available, will be on terms favorable to the company.
This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
SOURCE: Penny King Holdings Corporation |
