RED BANK, N.J., June 15, 2004 (PRIMEZONE) -- Atlantis Business Development Corporation, Inc. (OTCBB:ABDV) announced today that it has completed the acquisition of certain assets and data base used in the opt-in fax broadcasting and opt-in e-mailing business as well as 100% of the common stock of a business called E-Direct, Inc. for $3,780,000 in cash and stock. These assets and the data base will be owned and operated by E-Direct, Inc., a 100% wholly owned subsidiary of ABDV, conducting a business in the multimedia industry. The data consists of over 8 Million opt-in fax numbers and 220 Million opt-in e-mails that come from Info USA, Dunn and Bradstreet, and other various smaller sources.
C. Michael Dubeau, E-Direct's President, stated, "We are one of only 6 major fax broadcasters in the U.S. and Canada. Our advantage over the competition is that we fax broadcast utilizing Voice Over Internet Protocol (VOIP) which is less costly and of finer quality than the traditional analog method. Using the latest technology allows us to increase profit margins and manage massive data lists. Over the next few months, we plan to seek ways to substantially reduce our costs and further enhance our margins. Furthermore, within the next 12 months, we plan to create an E-commerce site to market various products utilizing our massive data base in both the opt-in e-mail area and opt-in fax area."
"Now that we have closed upon this asset purchase and begun operating the business of E-Direct, Inc., ABDV has a 100% wholly owned subsidiary that should show on-going revenues with the anticipation of positive cash flow," stated John Figliolini, ABDV's President and Chief Executive Officer. "We hope the market recognizes the value of the assets and more importantly the data base we have just purchased. We are now poised to increase the value of this investment and hope to do so by seeking out many opportunities to exploit such data."
About E-Direct Inc.
E-Direct has over 220 Million opt-in emails from categories that range from investing to travel. E-Direct presently owns and operates over 120 servers for all marketing purposes. Along with its US bandwidth E-Direct has also acquired bandwidth from various countries, making E-Direct a worldwide multimedia marketing agency.
About Atlantis Business Development Corporation:
Atlantis Business Development Corporation (ABDV) (www.atlantisbdc.com) is registered with the United States Securities & Exchange Commission as a Business Development Corporation ("BDC") and subject to the 1940 Investment Company Act. Atlantis seeks out Companies that are in their business development stage and provide management, accounting, finance, and M & A advice. Atlantis is an active investor in the Companies to which it provides its services and focuses on companies that are seeking to become publicly traded through reverse merger.
Additional Information: John Figliolini 732-212-1133
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to Atlantis Business Development Corp. (ABDV), except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, ABDV's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.