Business Services Industry
NATVAN Inc. Issues Warning Concerning Unauthorized E-Mail Blast
Business Wire, Jan 28, 2003
Business Editors
LAS VEGAS--(BUSINESS WIRE)--Jan. 28, 2003
NATVAN Inc. (NATVAN) (symbol: NTVN), a Pink Sheet company, today issued a warning concerning information contained in an e-mail blast circulated by an as yet unknown individual or entity. The blast which appears to have been first sent on Jan. 17, 2003, and which came to the company's attention on Jan. 23, 2003, originated from a Jill James at search 8899@polandia.prv.pl. It contains information that was circulated confidentially to various individuals and entities with which the company is negotiating potential business relationships. The release was made without the company's knowledge or authorization and the company is attempting to find the source of the leak. In addition, the release contains many incorrect statements about the individuals involved in negotiations, their representative corporate status and, in some cases, the status of negotiations.
In order to clarify the company's position, the following comments reflect the true position of NATVAN.
-- 1) NATVAN is negotiating with Brad Mooney, the current chairman and president of Composite Holdings Inc., for a potential business association with Composite on an as yet undetermined basis. Nothing has been finalized. Merle Ferguson, former interim president and CEO of Composite, holds no officer or director's position in NATVAN, and currently holds no officer or director's position in Composite. However, he is assisting both companies in attempting to complete any joint business transactions. -- 2) NATVAN has no agreement currently with APS Inc. NATVAN is in negotiations with Airport Protective Systems Inc. (APS) to form a joint business relationship; however those negotiations are ongoing and incomplete. -- 3) NATVAN has no agreement with Great Lakes Petroleum. NATVAN is in negotiations with Great Lakes Petroleum Inc. to form a joint business relationship, however those negotiations are ongoing and incomplete. -- 4) Any and all revenue projections contained in the e-mail blast are purely speculative, and all of said numbers were prepared and presented for internal discussion only amongst the various business associate candidates. -- 5) NATVAN has no agreement currently with U.S. BioTec. NATVAN is in negotiations with AG Services Inc. to form a joint business relationship, however, those negotiations are ongoing and incomplete. -- 6) NATVAN has acquired Auto Lending Group, however, any revenue projections are purely speculative and based upon Auto Lending Group completing a joint venture agreement with another entity. -- 7) NATVAN has acquired Certus Data Inc., and Certus Data is currently a joint venture partner with a company that specializes in criminal evidence and forensic storage systems. -- 8) NATVAN's ALG & CERTUS subsidiaries are expected to generate revenue in 2003 and 2004, however, the significance of the revenue is unknown and highly speculative. -- 9) Any and all representations concerning Composite Holdings Inc. (COHIA) and its subsidiaries and its revenue are immaterial to any matter concerning NATVAN, in that NATVAN has not entered into any business relationship with Composite. -- 10) NATVAN did not pay anyone, directly or indirectly, for release of the information contained in the e-mail blast, either in stock or in cash, and the company is aggressively pursuing the perpetrator of this dissemination and will take appropriate legal action if warranted for any damages caused to the company by this release.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
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