Friday November 3, 2:44 pm Eastern Time
Press Release
SOURCE: National Institute Companies of America, Inc.
NICA Issues SEC Update
PITTSBURGH, Nov. 3 /PRNewswire/ -- National Institute Companies of America (OTC Bulletin Board: NICM - news; ``NICA'') would like to clarify some outstanding issues regarding the company:
Regarding the friendly tender offer for all outstanding stock of NICA (PR Newswire dated September 25th, 2000)
After verifying salient information with counsel, and after performing an in depth analysis of the potential acquisition ``prospectus,'' NICA has chosen not to pursue any further discussions with Gabor Sanor Acs and/or Penny King Productions, Inc.
SEC Comments regarding NICA's Form 10 (PR Newswire dated August 15, 2000)
The company is still in the process of responding to comments from the SEC. We are confident that the company has responded accordingly and will clear comment when appropriate.
Market Pulse (our former P/R firm) contract has expired.
Our contract with MarketPulse has expired. We are currently reviewing PR firms.
What is the status of Boomers. (PR Newswire dated February 10, 2000)
NICA has chosen to forego an equity position or joint venture of any kind with Boomers.com. It was determined after further due diligence and discussion that the synergies between the two companies became less apparent.
Status of secondary offers (PR Newswire dated March 6th, 2000)
The company continues to keep all options open as we continue to analyze various needs as they may pertain to future potential mergers, acquisitions, joint ventures and strategic alliances.
The company welcomes comments and suggestions at corporate@nicoa.com.
Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends, and future operating revenues and expenses. Although the Company believes that the statements are reasonable, it can give no assurance that such expectations will prove to be correct. Investors are cautioned that any forward-looking statements made by the Company, or contained in this profile/research report, contain no guarantee of future performance, and that the actual result may differ materially from those set forth in the forward-looking statements. Difference in results can be caused by various factors including, but not limited to, the Company's ability to be able to successfully complete planned funding agreements, to successfully market its products in competitive industries or to effectively implement its business plan or strategies.
SOURCE: National Institute Companies of America, Inc.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
