To: randmiser who wrote (1157 ) 2/22/1999 9:08:00 AM From: Brady B. Read Replies (2) | Respond to of 2003
Maas newsitos (more news)................. Zulu Subsidiary Brands For Less.com (Holdings) Inc. Announces Plans for IPO LOS ANGELES, Feb. 22 /PRNewswire/ -- As announced earlier today, Brands For Less.com (Holdings), Inc. was acquired from Enhanced Services Company, Inc. (OTC: "ESVS") by Zulu-tek, Inc. (OTC Bulletin Board: ZULU). Brands For Less.com (Holdings), Inc. will immediately go forward with its plans to offer a minority portion of its common stock to the public in an underwritten initial public offering. The Company's goal is for gross proceeds of approximately $80 million, which will be earmarked for working capital in furtherance of the Company's e-commerce business and to repay debt. The offering is expected to be completed within 150 days. Brands For Less.com (Holdings), Inc. is an online intermediary which operates one of the first Internet-based department stores incorporating in one location many online specialty retailers across popular consumer product categories at significant discount prices. Forward-looking statements in this release concerning trends or anticipated operating results are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties related to the Company's operations. These risks and uncertainties include, but are not limited to, competitive factors (including the possibility of increased competition or technological development, competitors and price pressures); legal factors (such as limited protection of the Company's proprietary technology and changes in government regulation); the Company's dependence on key personnel and significant customers; and stock market conditions and factors affecting underwriting and valuations. SOURCE Zulu-tek, Inc. CO: Brands For Less.com (Holdings), Inc.; Zulu-tek, Inc. ST: California IN: CPR MLM REA SU: OFR