Dwayne,
Does the latest news on the acquisition mean that the joint marketing agreement announced by FNTN between IDB and Empire Financial Group Inc. is dead.?
I've heard that Mr. Stein is or has in the past been employed by Empire Financial Group. Can you confirm or deny this rumor?
I've copied the PR into this post.
Regards
Tom
205.185.55.112
Financial Intranet and Empire Financial Group Announce Joint Marketing Agreement
ARDSLEY, N.Y.--(BUSINESS WIRE)--July 29, 1998--Financial Intranet Inc. (OTCBB:FNTN), a New York based network developer of Secured Intranets, Internet Websites and Internet content, Data Warehousing Management and Research Services, Wireless Interactive web-based paging and Advanced Communications services for the Financial, Insurance, Medical, Legal and other industries, announced today that International Data Broadcasting, its expected acquisition, has entered into a strategic marketing alliance with Longwood, Fla. based Empire Financial Group Inc.
The agreement between IDB and Empire provides for the direct marketing of IDB's wireless interactive alert service, featuring IDB's innovative "Watchdog" and "Scan Modules". Watchdog allows investors to set up their own personal portfolio and choose from several different alert selections for each symbol, (upper limit, lower limit, percent change, interval, set time and news). Watchdog dynamically monitors each symbol using live, "real time" market data and instantly alerts the investor when a parameter is triggered. Company Specific Headline News can also be instantly transmitted to the investor by selecting up to four key words (such as take-over, earnings, stock-splits or upgrades) for each symbol to scan within a specific news release.
Scan Modules, in contrast, allow investors to universally watch for news releases on all companies, specifically relating to each subject. These alert subjects can include IPOs, takeovers, mergers, earnings, 13D filings or stock splits etc. Investors can read the information directly on their pager and be assured they are receiving live "real-time" information. Portfolios can be accessed via the Internet or by using any touch-tone phone, including cellular. In addition, IDB and its wireless products will be featured on Empire Financial Group's Website and throughout Empire's marketing campaign.
Kevin Gagne, president of Empire Financial Group Inc., said, "We believe our clients can benefit tremendously from the extensive features of IDB's wireless communications, especially its new and unique 'Watchdog and Scan Module' investor alert services. In addition to being able to access Financial Intranet's extensive Internet content, we are expecting this new relationship to enhance both our revenues and increase our client base substantially. This product will enable our sales force to communicate with its customers interactively and near instantaneously, especially during periods of intense market activity. In addition, our sales force will be able to enhance its overall productivity and efficiency and therefore will help reduce our costs significantly.
Empire Financial Group Inc. is the largest independent brokerage firm in Central Florida and the third largest in the state. In addition, Empire Financial Group is a national discount broker, which offers online trading which can be accessed through the Empire Financial Group's Website at lowfees.com. Empire Financial Group offers its clients commission free stock trading without account minimums for trades placed online or with a live broker. Empire's full service division offers portfolio evaluation and planning through a diversified selection of high quality mutual funds, professionally selected by its experienced financial consultants, utilizing Financial Intranet's resources. Empire's unique approach to serving all of their client's financial needs has enabled the firm to experience explosive growth in new accounts and assets under management.
Dwayne Pass, president of International Data Broadcasting, said: "We are delighted to enter into this groundbreaking agreement with Empire Financial Group, the first national discount broker to offer our products. These are very exciting times for us as we begin to incorporate Financial Intranet's broker dealer base and offer our state-of-the-art alert service to Empire Financial Group and its current and future clients." Their Website address is goidb.com.
Michael Sheppard, president and chief operating officer of Financial Intranet, said: "We are very pleased for IDB to be entering into this agreement, just prior to our expected acquisition of these wireless services. The marketing exposure, on a national and international basis, should add impetus to our growing revenues from all our other product lines. It is with pleasure that we add Empire Financial Group to our growing broker dealer base and feel that it will lead to increased business opportunities between our companies in the very near future." Financial Intranet's Website can be found at fntn.com.
Financial Intranet is in the process of establishing the nation's first, proprietary, secured on demand, interactive high-speed video, voice and dedicated data-stream Information Network that will enable enhanced links to be created throughout any vertical market Industry and allow interactive access by the individual user.
The Network will integrate Data Warehousing Research and Management services and interactive wireless paging. The proprietary network is customizable for any application, group, franchise or association that requires dynamic information exchange, especially for organizations that are heavily data laden such as Federal, State, Local and City Government Departments, Law Enforcement, Financial, Insurance, Medical and Legal industries.
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