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I just purchased this stock today reading their news release yesterday. At .54 this stock seem too cheap.They just announced that they have aquired an option to buy a 51% interst in Lansource Technologies. Look at there web and the news releases on it. Rumour has it a management person from China Online is flying to see the company next week. We will have to see how this plays out. Power Direct, Inc. Announces Signing of Letter of Intent BusinessWire, Tuesday, February 16, 1999 at 09:13 BELLINGHAM, Wash.--(BUSINESS WIRE)--Feb. 16, 1999--The board of Power Direct, Inc. (OTC BB: PWDR) is pleased to announce that the Company has signed a Letter of Intent and made a sizable non-refundable deposit to acquire up to 51% of LANSource Technologies Inc. LANSource has 45 employees and offices in Canada, U.K, and Germany. LANSource is a leading developer of award winning Internet and LAN-based fax and data communications software. LANSource's primary products are WINport, a modem-sharing application and FAXport, a suite of fax products designed to maximize resources across the Internet. The Company's products incorporate expertise in Internet, FoIP (Fax over IP), data communications and networking and are Windows based ranging in scope from commercial applications, targeted at the ISP market, to businesses of any size. WINport, the company's modem sharing software, is the leading software in its category and is currently available in 12 languages. Operating on a client server model, this software shares a modem located on a Windows NT/95/98 PC or a Novell Server with other workstations located on the LAN. FAXport, the company's client-server fax software, is currently available in 4 sub-brands, including FAXport for Windows NT networks, FAXport for Lotus Notes/Domino, FAXport for Exchange and FAXport for Thin-Client Computing. This software allows users to send and receive faxes from their desktop or through their e-mail system. FAXport also has an Enterprise version that allows companies to set up a Virtual Fax Network from which to route faxes through the least cost point on their network. Earlier this year LANSource announced that a new product FAXport Virtual Fax Networking for Enterprises and Internet Fax Service Providers join the FAXport family of software for market. LANSource currently has strategic alliances with Microsoft (NASDAQ:MSFT), IBM (NYSE:IBM), Hewlett Packard (NYSE:HWP), 3 Com (NASDAQ:COMS), Brooktrout (NASDAQ:BRKT), Citrix (NASDAQ:CTXS) and Moreton Bay Ventures, manufacturer of the RAStel Multimodem. WINport, FAXport and FAXplusCONNECT are distributed worldwide through Tech Data US, Tech Data Canada, Ingram Micro Canada, Ingram USA, Ingram UK, Ingram Italy, EMJ Data Systems Canada, EMJ USA, Merisel US and Micro Central. The board of Power Direct, Inc. intend to form a wholly owned subsidiary for the purpose of investing in viable technology and internet companies. LANSource will be its first acquisition. This transaction is expected to be finalized within the next thirty days. | ||||||||||||
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