LOS ANGELES–(BUSINESS WIRE)–Sept. 23, 2003–SoftLead, Inc. (Other OTC: SFTL) announced that it has signed a Letter of Intent to acquire a majority interest in us-funds.com, Inc., a New Yorkcompany. The terms of the transaction calls for the payment of $9.00 for each outstanding share of us-funds.com Inc. The transaction is subject to the completion of definitive documentation and finaldue diligence. The parties have agreed that us-funds.com, Inc. will operate as a subsidiary of SoftLead, Inc.
Mr. Arshad Waheed, SoftLEAD Technology Partners, Inc.’s CEO, said, “This acquisition merger represents a strong second step in building a company with an international presence in a major new niche market. Additionally, SoftLEAD Technology Partners, Inc. is well equipped to provide the technology required for systems and the software applications needed by us-funds.com, utilizing its software development and systems integration technologies.”
us-funds.com is responding to a growing trend in the U.S. and European independent investor marketplace. Investors today are striving to be more diligent and have broader investment options. The need for greater investment-decision sophistication has stimulated demand for managed investment vehicles. That demand is great in Germany where the German Parliament recently passed a non-discriminatory tax law that will treat capital gains on foreign investments in the same manner as domestic German funds’ capital gains. In addition, the German Finance Minister recently announced plans to allow hedge funds to be sold in Germany beginning in 2004, which would effect a fundamental change in German capital markets.
SoftLEAD believes that these conditions set the stage for us-funds.com to achieve success and growth in a new niche market. us-funds.com is creating an Internet portal to service the German market for the independent retail investor. The portal should enable German institutions to offer information about German and U.S. mutual funds by providing access to a database containing German and U.S. mutual fund data along with search and analytical tools that provide instant investment decision-making information. us-funds.com is not aware of any other company supplying this technology in Germany and believes the portal will position the company as a lead player in providing online fund information and analyses services to the German investing market.
About SoftLead Inc.
SoftLead Inc. is a publicly traded company which has signed a letter of intent to acquire a majority interest in SoftLEAD Technology Partners Inc.
SoftLEAD Technology Partners, Inc. is a systems integrator and software company with its corporate facility in Covina, California. SoftLEAD Technology Partners, Inc. provides e-business, wireless and security application solutions to medium and large organizations in private and public sectors worldwide.
SoftLEAD is focused on creating and bringing leading edge know-how to the corporate customer and to specialize in products and services that better enable electronic commerce and mobile wireless commerce in appropriately secure information technologies environments.
Disclaimer regarding Forward-looking statements:
This document contains 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. In addition, from time to time, SoftLead, Inc. or their representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but are not limited to, various filings that may be made by the Company with regulating government agencies, press releases or oral statements made with the approval of an authorized executive officer of the Company.
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of SoftLead Inc. and the acquisitions of SoftLEAD Technology Partners, Inc. and us-funds.com as described in this release and the company’s operations generally, may differ materially from what is projected in such forward-looking statements. Additionally, the companies have completed preliminary discussions and have agreed on the general terms of the transaction. The parties must still complete due diligence and agree upon final terms and conditions of the acquisition and the definitive documentation before the transaction is closed.
There is a substantial risk that even though the Letter of intent is signed the ultimate transaction may not be completed or that the terms and conditions may vary substantially for those contemplated by the current agreement. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company’s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
