one to watch JRVE. old news about LOI and Enron's Broadband biz. I have on radar for news:
Jarvis Entertainment Group Initiates Letter of Intent to Purchase Enron
Broadband Services, a Subsidiary of Enron Corp.
Tomball, TX, FEB 19, 2002 (EventX/Knobias.com via COMTEX) -- Jarvis
Entertainment Group, Inc. (Pinksheets: JRVE), today announced it has initiated a
letter of intent to purchase Enron Broadband Services (EBS), a wholly owned
subsidiary of Enron Corp. (Pinksheets: ENRNQ).
Enron Broadband Services, a Houston based wholly owned subsidiary of Enron
Corp., has assembled a world-class IP network designed for high quality, high
bandwidth delivery and application services. EBS also maintains a fiber and
optical transport network throughout North America along with dark long haul and
metro fibers, real estate, software and other communications equipment. EBS
cited their knowledge of and relationship with Jarvis Entertainment Group as
leading EBS to believe JEG would be interested in considering an acquisition of
all or some of these assets.
"JEG has been provided with an overview of the assets offered for sale. Our
entire team, legal, engineering, and financial advisers, contributed to the
proposal. Two companies on the same exchange, in a related business, both from
Houston; it made sense for us to go after this opportunity with diligence," said
John D. Jarvis, Chairman and CEO of Jarvis Entertainment Group. "At this point,
I will say only this; we have an offer on the table."
Jarvis Entertainment is currently pursuing the sale of substantially all of EBS'
assets including the IP network, the fiber and optical transport network, long
haul dark fiber, metro dark fiber, real estate and equipment. Due to the
sensitive nature of this discussion, any and all inquiries must be directed to
John D. Jarvis at (281) 351-1831 ext. 104.
Based in Houston, TX, Jarvis Entertainment Group, Inc. is an Internet technology
and entertainment holding company with up to 142 employees, including seasonal,
part time, and network administrative staff to support the entertainment,
virtual reality, network and information technology complex. For more
information on the company, please visit www.jarvisgroup.net for a listing of
corporate information, premiere Internet properties, and links.
SAFE HARBOR PROVISIONS
With the exception of the historical information contained in this release, the
matters described herein contain forward-looking statements that involve risk
and uncertainties that may individually or mutually impact the matters herein
described, including but not limited to product acceptance, the ability to
continually obtain increased orders of its products, the ability to meet
installation goals, economic, competitive, governmental impacts, validity of
intellectual property and patents, the ability to commercialize its
developmental products, technological and/or other factors, which could cause
actual results or revenues to differ materially from those contemplated by these
statements.
CONTACT: Jarvis Entertainment Group, John Jarvis, (281) 351-1831x104
john@jarvisgroup.net, www.jarvisgroup.net
PR Contact: Alex Ellerman (773) 248-7708, alex@jarvisgroup.net |
