INQU -- I-Incubator.com, Inc.
i-Incubator Announces February 13, 2001 as the Record Date for the Spin Off of Its Subsidiaries
February 2, 2001
MIAMI, Feb 2, 2001 (BUSINESS WIRE) -- i-Incubator.com, Inc. (OTCBB:INQU) is pleased to announce that it has a filed a Schedule 14C Definitive Information Statement pursuant to Section 14(C) of the Securities Exchange Act of 1934 today to inform its shareholders of its intention to spin off its four wholly owned subsidiaries, i-CarAuction.com, Inc., i-Teleco.com, Inc., i-Aerobids.com, Inc. and i-AntiqueAuction.com, Inc. as well as its subsidiary i-RealtyAuction.com, Inc. (which is thirty (30%) percent owned by Global Realty Management Group, Inc. (OTCBB:GRMG)) to its shareholders of record as of February 13, 2001. In addition, the Company is informing its shareholders of its intention to distribute its 1,500,000 shares of Wealthhound.com, Inc. (NQB:WLTH) to its shareholders as of February 13, 2001.
On January 23, 2001, i-Incubator filed its Schedule 14C Preliminary Information Statement with the Securities and Exchange Commission and did not receive any comments on such filing. Therefore, i-Incubator filed its Definitive 14C with the SEC and announced that all shareholders of record of the Company as of February 13, 2001 will receive shares of the subsidiaries common stock in the following manner:
1. i-RealtyAuction.com, Inc.-.1439 shares for each i-Incubator share
owned;
2. i-Teleco.com, Inc.-.7810 shares for each i-Incubator share owned;
3. i-AntiqueAuction.com, Inc.-.4111 shares for each i-Incubator share
owned;
4. i-Aerobids.com, Inc.-.4111 shares for each i-Incubator share
owned;
5. i-CarAuction.com, Inc.-.4111 shares for each i-Incubator share
owned; and
6. Wealthhound.com, Inc.-.062 shares for each i-Incubator share
owned.
