EZTO pr news, but I don't see a date of record on the spinoff. Narvo
By: Art2Gecko
16 Mar 2005, 03:03 PM EST
Msg. 567399 of 567457
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EZTO spinoff news!!!!!!!! EZ2 Companies, Inc.'s Board of Directors Approves Spin-off of EZ2date.com [DYMQYRW]
Business Editors/Technology Writers
MIAMI--(BUSINESS WIRE)--March 16, 2005--EZ2 Companies, Inc. (OTCBB:EZTO) (the "Company") today announced that its Board of Directors had approved the reorganization and spin-off of EZ2date.com into an independent, separately traded and publicly-held company. EZ2date.com is currently owned and operated by the Company's wholly-owned subsidiary and principal shareholder, EZ2 Companies.com, Inc.
The spin-off will be accomplished through a special dividend to the Company's shareholders of one share of EZ2date.com common stock for every two shares of the Company's common stock held. The Company will file a registration statement for shares of EZ2date.com's common stock and seek quotation for its shares on the Pink Sheets. Currently, there is no market for EZ2date.com's securities.
Otto Bethlen, the Company's President and Chairman, stated, "We are confident that this spin-off will provide the Company and EZ2date.com with the capital structure and opportunity for the momentum each require and should offer compelling value to the market."
About EZ2 Companies, Inc.
EZ2 Companies, Inc. is a provider of Internet based services to its clients, ranging from dating and relationship services, rental services, internet search and national mortgage services. The Company operates several Internet portals including EZ2Auction.com, EZ2Rent.com, EZ2Ask.com, EZ2Date.com, EZ2Swing.com, EZ2Mortgage.com and EZ2Vacation.com. The offerings are focused on building traffic and allowing targeted permission based, opt-in email solicitation to users to co-brand products.
Forward Looking Statements
Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management, increased government regulation or the company's failure to integrate its acquired companies to achieve the synergies and efficiencies described in the "Management's Discussion and Analysis" section of the Company's Form 10-KSB and other reports and filings with the Securities and Exchange Commission, which may be revised or supplemented in subsequent reports on SEC Forms 10-QSB and 8-K.
--30--CM/mi*
CONTACT: EZ2 Companies, Inc., Miami
Otto Bethlen, 305-577-5990
KEYWORD: FLORIDA NEW YORK
INDUSTRY KEYWORD: SOFTWARE INTERNET E-COMMERCE
SOURCE: EZ2 Companies, Inc.
Copyright Business Wire 2005
16Mar05 20:03 GMT
Symbols: us;EZTO
Source BW Business Wire
Categories: MST/I/NET MST/I/SOF MST/L/EN MST/R/US/FL MST/R/US/NY TGT/BWN
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