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 : MAJOR DAILY'S WILD STOCK RIDES -- Ignore unavailable to you. Want to Upgrade?

To: ErnestPoe who wrote (135)	3/11/1999 2:37:00 PM
From: Currency	Read Replies (1) \| Respond to of 403

WWWX - HUGE NEWS OUT! WorldWide Web NetworX Acquires 50% Stake in Internet Applications of Jencom Digital Technologies MT. LAUREL, N.J., March 11 /PRNewswire/ -- WorldWide Web NetworX Corporation (OTC Bulletin Board: WWWX) and Jencom Digital Technologies, LLC (Jencom) announced today that WWWX has acquired a 50% interest in Jencom's proprietary cutting edge WebCamera, SNapp(TM) PowerBroker(TM) and TrueSound(TM) products for 2,000,000 shares of restricted common stock and an additional 3,000,000 shares of restricted common stock on a performance incentive basis and $900,000 of funding. This Agreement adds a set of powerful e-commerce capabilities and products to WWWX's growing portfolio of Internet assets. As part of the Agreement, WWWX also received a private equity investment from a major venture capital investor of $3,000,000 for two million (2,000,000) restricted shares of it common stock. These funds will be used for acquisition to further the Company's strategy of developing Internet business. Jencom, based in New York City with offices in Israel, is an innovator and developer of unique Internet software systems and state of the art hardware products. Jencom develops web products and software solutions from initiation through completion and employs expert programmers and an award winning team of graphic designers. A team of support engineers, hardware technicians and system administrators that enables them to deliver exceptional products and service maintains their high tech work environment. WWWX, is an incubator of leading-edge e-commerce solutions with direct e- commerce marketing operations. The Company acquires and develops advanced technologies, which it either develops into operating businesses or spins off to maximize shareholder value. Robert Kohn, President and CEO of WWWX stated, "certain of the recent transactions that WWWX completed have advanced our Internet incubator business model. These include: the purchase of entrade.com and a 25% interest in asseTrade.com with their subsequent sale to Artra Group Inc. (NYSE: ATA) in exchange for 2,000,000 shares of the company's common stock, which is subject only to shareholder approval; the acquisition of the ATM Internet Technology with the purchase and launch of a 50% interest in ATMcenter.com; the development of Internet Auction technology and the acquisition of the 50% interest in Jencom. These transactions position WWWX in the forefront of e- commerce consolidation. Henry Kauftheil, Chairman of Jencom, stated that "the synergies between WWWX and Jencom are unique in that we both have cutting edge technology products and are interested in combining our marketing talents to promote leading internet solutions for distribution in niche markets. This Agreement will allow us to focus our energies on revenue generation, marketing and mass market penetration." Forward Looking Statements Statements contained in this press release, which are not historical facts, are forward-looking statements. Such forward-looking statements are necessary estimates reflecting the best judgement of the party making such statements based upon current information and involve a number of risks and uncertainties. Forward-looking statements contained in this press release or in other public statements of the parties should be considered in light of those factors. There can be no assurances that such factors or other factors will affect the accuracy of such forward-looking statements. SOURCE WorldWide Web NetworX Corporation -0- 03/11/99 /CONTACT: Robert Kohn, President and Chief Executive Officer of WWWX, 609-439-7499; or Henry Kauftheil, Chairman of Jencom Digital Technologies, LLC, 212-647-0500; or Elisa Mailman of The Financial Relations Board, 212-661-8030/ (WWWX)