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Non-Tech : CECC - On the Brink of a cashless society -- Ignore unavailable to you. Want to Upgrade?

To: Tadsamillionaire who wrote (3)	7/31/2003 3:01:22 PM
From: Tadsamillionaire	Read Replies (1) \| Respond to of 13

C.E.C. Industries Announces Financing and Acquisition Memorandum Monday June 9, 10:21 am ET LAS VEGAS--(BUSINESS WIRE)--June 9, 2003--C.E.C. Industries, Inc. (OTC:CECC - News) has announced today that it has entered into an Investment Letter of Intent with Ascot Investments, Inc. for a term of 36 months for a $20,000,000 equity collar to be funded through a proposed SB-2. Additionally, C.E.C. Industries has entered into a Memorandum of Proposed Terms to acquire 50.8% of a company that provides a suite of cash-based debit cards for ATM and debit "point of sale" transactions (the "Company"). In addition, the Company is establishing retail deposit/load centers, enabling cardholders to add value to their card accounts. The "stored value card" products are based upon a proprietary, patent-pending, secure technology. "This initial financing arrangement will provide C.E.C. with funds to pursue its acquisition targets. We are excited about the Company's progress and anticipate further developments in the near future," said Brian Dvorak, Chairman and CEO of C.E.C., Industries. C.E.C., Industries is a Nevada Corporation which has been working to develop an active business model. Certain statements contained herein are ``forward-looking'' statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: C.E.C., Industries, Inc., Las Vegas Jeff Hoffer, 866/820-5139 ceccir@hotmail.com biz.yahoo.com