Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : MIDL .... A Real Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (275)	11/13/1997 8:55:00 AM
From: Frank Fontaine	Respond to of 7039

Midland, Inc. Acquisition PR Newswire - November 13, 1997 07:00 MIDL %TRN %ENT %TNM V%PRN P%PRN DALLAS, Nov. l3 /PRNewswire/ -- Midland, Inc. (OTC Bulletin Board: MIDL) announced today that it has acquired DRC Incorporated of Las Vegas, Nevada. DRC (a Nevada Corporation) is in the Restaurant, Bar and Entertainment Business in Las Vegas. The company currently operates one Restaurant/Bar with 15 gaming machines in Las Vegas and has plans to acquire an additional 15 locations within the next year. DRC also manages several up and coming Las Vegas Entertainers. In connection with the acquisition, Mr. Gerald N. Cuomo has been appointed to Midland's Board of Directors and has been appointed to the post of President of the new subsidiary DRC. In addition, Mr. Cuomo will be a Vice President of Midland in charge of its new entertainment division. The acquisition was paid for by Midland with restricted stock and will add about $10,000,000 to Midland's revenues for FY 1998. Midland has also entered into an agreement to acquire Diskman Software of Dallas, Texas. Diskman develops and sells software to various industries throughout the U.S. Mr. Charles Kandutsch, President of Diskman, and his management team will remain and Kandutsch will become a Vice President of Midland. New Departure's interchange software will be transferred to the new subsidiary for further development and marketing. Diskman adds marketing and software expertise that management feels will more than double revenues from the software division. Sales for FY 1998 are expected to exceed $5,000,000. In connection with the Bearing industry, New Departure has entered into formal negotiations with Shar Bearing Corporation of Russia to be their sole distributor in North and South America. New Departure is currently testing Shar's product for noise and tolerance standards in the company's facilities in Dallas. The Company is also negotiating with several Chinese manufacturers of Bearings to be the sole importer of their product, for the same geographical area, and has entered into a representation contract with a Beijing Attorney to aid in those discussions. SOURCE Midland, Inc. /CONTACT: Investor Relations of Midland, Inc., 800-754-4519/ (MIDL)