GoPublicNow.com To Expand Its Business Again By Signing Letter Of Intent To Acquire So Cal Securities
Market Wire, 20050229
GoPublicNow.com (OTCBB: GNOW), a business-to-business financial network and web portal, announced today that it has signed a letter of intent to acquire So Cal Securities. The purchase, if completed, will be for cash and stock. Specific terms were not disclosed.
Established in 1985, So Cal Securities is a full service, licensed broker dealer located in Dana Point, California. GPN intends, upon regulatory approval, to change the name of So Cal Securities to GPN Securities and physically move their operation to the GPN location in Newport Beach.
Following the recent announcement of the inception of GoBizNow.com, GPN's full-scale, business solutions site, the announcement of the acquisition of SoCal Securities places the GPN network into another major market sector. The SoCal Securities acquisition could allow GPN the ability to make markets in publicly traded stocks, conduct private placements, and underwrite its own private and public offerings, in addition to supporting client companies and providing premier brokerage services for its investor clientele.
"We are executing our business plan at a phenomenal rate, while providing a necessary service to the business world. This particular acquisition will allow GPN to significantly expand our business, enhance our financial syndicated network and act as a full-scale brokerage firm. The addition of these services will provide an extremely attractive value-added service for both our GPN as well as our GoBizNow.com clients," said Bruce Berman, Chairman and CEO of GoPublicNow.com. "We have been looking for a securities firm to acquire for some time. The acquisition of So Cal Securities will give us an important tool necessary to grow GoPublicNow.com. In addition, this acquisition also demonstrates that GPN is growing rapidly, but intelligently, securing new services that we believe enhance our core business."
Executive Vice President and Securities Principal Marcus Hurlburt also expresses his enthusiasm about the acquisition, "This move allows more versatility for GPN and will enable us to increase our revenue potential dramatically." He continues, "Not only will GPN be able to place offerings with our financial affiliates, we may now participate with them."
This acquisition will also enable GoPublicNow.com to expand its market horizons as well. GPN intends to launch its own Initial Public Offering site focusing on the underdeveloped market for mid-sized offerings ranging between $15 and 40 million. Hurlburt comments, "We are following in the successful footsteps of our predecessors, Wit Capital (NYSE: WIT), Goldman, Sachs & Co (NYSE: GS), DLJ (NYSE: DLJ), E*Trade Group, Inc. (NASDAQ: EGRP), and Merrill Lynch (NYSE: MER) . However, we are focusing our attention and expertise towards a different sector of the market which has been previously unaddressed."
About GoPublicNow.com
GoPublicNow.com (GPN) is a Business-to-Business financial portal with unique Internet tools available to companies who want to raise capital and go public. Acting as a virtual syndication network for any company or entrepreneur that wants to raise money or go public, GPN offers a single source answer for their needs. Not only does the Company provide access to capital resources and public markets, GPN also provides the necessary advisory services to get there. The Company's network of qualified service providers will be able to supply any service a client needs to grow their business, attract capital or become public. GPN has the added benefit over traditional incubators and financial companies such as CMGI (NASDAQ:CMGI - news), , Internet Capital Group, Inc. (NASDAQ: ICGE - news), Safeguard Scientifics, Inc. (NYSE: SFE - news) or Rare Medium (NASDAQ: RRRR - news) or M&A West (NASDAQ: MAWI) in that GPN's business model allows the Company the unique ability to fund an extremely large and diverse group of new client companies as well as virtually limitless access to capital and professional service providers. GPN is currently conducting its services in the Business-to-Business sector. This sector has seen a lot of growth with companies such as Free Markets, Inc. (NASDAQ: FMKT - news), Ariba, Inc. (NASDAQ: ARBA - news), Commerce One, Inc. (NASDAQ: CMRC - news), Ventro (NASDAQ: VNTR - news), PurchasePro.com, Inc. (NASDAQ: PPRO - news) and webMethods, Inc. (NASDAQ: WEBM - news).
Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition trends and other market factors.
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