Better late than never - Edulink Announces New Closing Date for Acquisition of Bloomen Limited d/b/a ICUrls.com
MONDAY, MARCH 22, 2004 9:01 AM
SANTA MONICA, Calif., Mar 22, 2004 (BUSINESS WIRE) -- Charlie Guy, CEO, of Edulink, Inc. (MYIQ) , announced today that the intended closing date of the pending transaction relating to Edulink's acquisition of Bloomen Limited d/b/a ICUrls.com has been extended to April 15, 2004 so as to allow Edulink to conduct further due diligence activities.
Charlie Guy, speaking of the extension, "Although we are very enthusiastic about our Company's future business opportunities in China and the potential value of our pending venture with Bloomen, we have found that evaluating the risks relating to this particular opportunity to be very complex. The extended time allows us to conduct the additional due diligence activities we believe necessary to further analyze the scope of these risks in order to protect shareholder value."
Edulink's current business focus is on the near and long term opportunities to implement a series of revenue generating products and services built upon our knowledge sharing system's core technologies known as the eKnowledgeXchange. The company's focus is not limited to the US K-12 market, but includes implementation in the international education marketplace as well as the utilization of these same core technologies to deploy revenue-generating models outside of the education market.
Edulink's core technology system, developed by its technology integration partner SAIC, and market tested over the last several years, is based on the integration of the three core foundations for digital asset or eKnowledge management: Storage & Retrieval, Repurposing and Distribution. The eKnowledgeXchange will allow for the personalized, secure and managed delivery of enhanced digitized assets or eknowledge utilizing one of our four proprietary delivery systems: the Internet, CD-ROM/DVD, Traditional Print, or e-Print on Demand. eKnowledge is knowledge, as it exists in a profoundly networked world. It is not just a digitized collection of knowledge. eKnowledge consists of knowledge objects and knowledge flows that combine content, context, and insights on application. The new Web site is located at http://www.eknowledgexchange.com
This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to the ability of Edulink, Inc. to grow its related businesses, consummate potential financing arrangements and/or consummate anticipated service or distribution or acquisition agreements. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the limited operating history of Edulink, the company's limited financial resources, domestic or global economic conditions, activities of competitors and the presence of new or additional competitors, and conditions of equity markets. More information about the potential factors that could affect Edulink's business and financial results is included in Edulink's filings, available via the United States Securities & Exchange Commission.
SOURCE: Edulink Inc.
Stuart Smith, 760-643-1946
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