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Microcap & Penny Stocks : CSHK CASHCO MANAGEMENT Y2K -- Ignore unavailable to you. Want to Upgrade?

To: CatLady who wrote (2533)	5/18/1998 9:21:00 PM
From: CASHCO	Read Replies (3) \| Respond to of 7491

The following press release was released and published on Bizwire tonight. CASHCO MANAGEMENT, INC. 16715-12 Yonge Street Ste. 311 Newmarket, Ontario Canada L3X 1X4 For Immediate Release Newmarket, Ontario, May 19, 1998: The Company is pleased to announced that its wholly owned subsidiary, Eleventh Hour Software Production, Inc. (AEHI@), has signed a formal agreement with Merced, Inc (AMerced@), an unaffiliated third party, for the acquisition of Merced's exclusive license for the sale, marketing and distribution of a software product that will analyze computer software and hardware and report the changes that need to be made to enable software and hardware to function for the year 2000. By mutual agreement of the parties and upon advice of counsel, the parties have agreed to restructure the acquisition of the exclusive license as a stock for asset transfer. Under the terms of the final agreement, Merced, Inc. will receive 1,500,000 shares of EHI=s Convertible Voting Preferred Stock, convertible into Common Stock of Cashco, on a share for share basis, or into EHI Common Stock, under certain circumstances, as sole consideration for the acquisition of the exclusive license. In addition, EHI has agreed to assume a $250,000 promissory note which the exclusive license is subject to in lieu of the previously agreed upon cash payments to Merced, Inc. The first payment of $50,000, is to be paid on May 22, 1998. and the balance is to be paid, beginning July 1, 1998 and on the first of day of each month thereafter in equal payments of $33,333.333. The Note bears interest at the rate of 5% per annum. In addition, the Articles of Incorporation for EHI were amended to entitle holders of the Preferred Stock to one vote per share on all matters for which shareholders are entitled to vote. There were no other material changes to the remaining terms of the original Letter of Intent as announced on March 3, 1998. EHI will continue to have an option to buy and/or distribute all other future retail and commercial software to be sold to the general public, based upon a product which is produced or manufactured by the original principals of Merced or their affiliates, together or individually. The Company, through EHI, is scheduled to release the 11th hour Software product, in its final format, for sale to the public on or before June 1, 1998, through a website hosted by Zitec International Limited. Zitec, has been engaged to co-ordinate the sale, manufacturing and distribution of software products acquired by EHI or the Company. The price and sales volume for the Y2K product will be determined by Zitec in consultation with the Company. The Company trades on the Over The Counter Bulletin Board, symbol OTC BB:CSHK. For more information call 905-898-0918. - 30 -