ICHC: Acquisition Agreement With Cyberradio.com, Inc.
Business Wire - Tuesday, January 16, 2001
SANTA CLARA, Calif.--(BUSINESS WIRE)--Jan. 16, 2001--(OTC BB: ICHC) inCHORUS.com
announced today that it has completed Phase One negotiations and has entered Phase Two (due
diligence review) for establishing an exclusive licensing agreement and/or acquisition agreement with
CyberRadio.com, Inc.(TM), a privately owned Internet radio company. CyberRadio.com, Inc. is the
largest Internet radio company with over 15,500+ radio stations under its worldwide umbrella.
CyberRadio.com, Inc. has two premiere product and service divisions, Internet Music Promotions,
Inc.(TM) and Internet Music Library, Inc.(TM), and the company was identified in The Wall Street
Journal in an article published on November 27, 2000 as one of the three best web radio offerings on the
Internet.
Mr. William Yuan, Chief Executive Officer of inCHORUS.com stated "the article was quite significant in
that the other two stations cited were radiolocator.com and broadcast.com which was a highly
publicized acquisition by Yahoo!, Inc. for an estimated $5.9 billion U.S.. The synergy and integrated
vision of both inCHORUS, Inc. with its complete rich e-mail solutions and CyberRadio.com, Inc.'s broad
audience base, artist recruitment program and copyright friendly pay to play downloading system will
establish a bold, new and more diverse future for inCHORUS.com and its shareholders.
CyberRadio.com, Inc. also holds a number of provisional patents and copyrights on its business
process and products that will compliment and expand inCHORUS'S existing product sales and
distribution."
Mr. Yuan further stated "he anticipates the balance of the due diligence by both companies will be
completed in the next thirty days and the transaction will close shortly thereafter." Mr. Yuan went on to
state "additional information on the exclusive licensing agreement and/or acquisition will be forthcoming
as it is approved for release. The transaction is on a fast track and it is envisioned to be completed in
the early to mid part of our first quarter."
Forward-looking statements in this release are made pursuant to the "Safe Harbor" provisions of the
Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties, including, without limitation, continued acceptance of the
company's products, increased levels of competition for the company, new products and technological
change, the company's dependence upon third-party suppliers, intellectual property rights and other
risk detailed from time to time in the company's periodic reports filed with the Securities and Exchange
Commission.
CONTACT: inCHORUS.com
Gerry Loader
1-408-566-6000
(Voluntary Disclosure: Position- Long; ST Rating- Hold; LT Rating- Hold)
