In the U S, only market makers can short a stock that is not marginable. In Canada, they can get away with any thing. Unless the stock makes another strong run, the shorts will probably leave it alone.
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Wednesday August 5, 6:03 pm Eastern Time
Company Press Release
InterJetNet Announces Fourth Acquisition of Year
Acquires Man, Rabbit, House Multimedia, Inc.
HOUSTON--(BUSINESS WIRE)--Aug. 5, 1998--InterJetNet Corporation (OTC BB:IJNT - news) announced today that it has acquired Man, Rabbit, House, Multimedia Inc., a Newport Beach-based web development company specializing in website design and e-commerce solutions. Terms of the agreement were not disclosed.
Established in 1994 as an interactive multimedia agency, Man Rabbit House Multimedia was created to meet the demand of a new marketing and media era. Today, Man, Rabbit, House offers ''brand-building'' and marketing solutions to businesses through website development. The
company's marketing services include consulting, site management, hosting, and print media. The firm also provides cross-platform multi-user database solutions, such as e-commerce web services,
QuickTime(TM) virtual reality, flash and shockwave animation, dynamic HTML, and Java.
Through a strategic alliance with Man, Rabbit, House Multimedia, IJNT has provided website design and development to its customers since August of last year.
Daniel Cook, chief information officer of InterJetNet, said, ''The acquisition of Man, Rabbit, House Multimedia reflects the natural progression of a strengthening relationship. We have been working
with web developers from Man, Rabbit, House for a year and are pleased to welcome them aboard as we expand internationally.''
Greg Matsen, a former managing partner of the web development, design, and hosting firm Media RAGE, will join IJNT as the manager of web development. Matsen commented, ''We intend to make IJNT's web design and development division one of its most profitable and are already
discussing ways to significantly increase our design and hosting revenues.''
Robert Santore, who will continue as the creative director of web development at InterJetNet, said, ''We look forward to providing our customer's with the finest Internet and marketing services available anywhere. Through the acquisition of Man, Rabbit, House Multimedia, IJNT's new web development division is now equipped with premier quality resources. We are extremely pleased by the recent course of events.''
Man, Rabbit, House Multimedia is the latest transaction in IJNT's aggressive acquisition campaign which began in January of this year. IJNT first acquired Access Communications, a Houston-based Internet service provider, expanding its customer base 1,000%. In June, IJNT acquired Webit, Inc., a national website development firm, as well as a customer base from Internet Solutions, LLC. With the recent letter of intent to acquire Visual Numerics, Inc., which grossed $23 million in revenues in 1997, IJNT is poised for even more dramatic growth.
InterJetNet Corporation provides high speed internet access and service to homes and businesses without the use of phone lines. InterJetNet's subscriber base is rapidly growing and expected to
exceed 10,000 by the end of 1998 as the Company expands into markets worldwide. The Company's rapid growth is the result of aggressive marketing and sales, internal development, acquisitions, and strategic alliances. InterJetNet is currently in the process of changing its name to IJNT International.
This press release may contain forward-looking statements made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, subscriber growth, product demand, competition, and other risks and uncertainties detailed from time to time in the Company's periodic reports, including Quarterly Reports on Form 10-Q and Annual Reports on 10-K.
This and additional information can be found on the Company's web site at www.interjetnet.net or can be obtained from the Company upon request.
For further updates and a current corporate profile, see www.otcfn.com/ijnt or www.interjetnet.com. |
