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News for 'DCUT' - (Dicut, Inc. CFO Pierre Quilliam Reports on the Company's Present Status and Planned Activities in the Internet Service Provider and Dial-Up Internet Access Business)
TAMPA BAY, FL, Mar 16, 2006 (MARKET WIRE via COMTEX) -- Dicut, Inc. (OTC: DCUT) has entered into an agreement to purchase two companies which operate Internet Service Provider and Dialup Internet Access businesses. The Company's agreement provides for the acquisition of the assets of Warner International Networks Corp., the owner of a proprietary browser accelerator and other services and Extend A Pop Corp., which provides connectivity and email accounts to wholesale customers who retail these services to individual subscribers. The purchase agreement provides for an exchange of $1,375,000 payable in the discretion of the Company's board of directors either in cash or shares of the Company's common stock. The acquisition is contingent upon a final settlement of all claims by the Company's creditors which is being handled by the Company's legal counsel.
Quilliam stated, "In reply to the many inquiries and questions raised by both existing shareholders and potential new investors, I want to communicate clearly the Company's mission and goals. Our mission is to become a coast-to-coast Internet Service Provider through organic revenue growth of the present customer base and acquisition of dial-up and DSL providers, giving a full range of connectivity and subscription-based application services. Our goal is to grow our revenue stream to $1 million plus by the end of this year with subsequent increases in revenue and bottom line figures for the coming years substantial enough to assure stability in our shareholders-stake in the corporation."
"We have already partnered with a large data-handling firm, a move which we believe will provide a steady revenue stream, due to their customer's present need of our services. While this revenue stream is currently quite modest, we believe it has the potential to increase substantially in the coming quarters. A number of potential customers have already promised their business to us as a result of our move to Purespeed Plus, our new data center."
"In the coming weeks we will be releasing more information about the Company's financial condition and additional details regarding its strategic direction."
"The Company's current service offering provides our wholesale clients with the opportunity and tools necessary to broaden their scope of service and involvement with their members."
"These services are provided to businesses on a monthly subscription basis."
"In order to deliver and support our solutions, we have joined with a highly reliable and secure data services infrastructure, including one primary data center located in the eastern seaboard region. Our data center is comprised of standardized hardware environments to support application hosting services, embedded security, sophisticated storage disk arrays and data storage facilities, and a significant level of infrastructure redundancy. Our major differentiator is in our connectivity system and our 24/7/365 phone help desk."
"We also intend to seek to acquire and manage a number of existing companies in the same field and thus benefit from recurring revenue streams, which we believe can generate substantial positive cash flow in later years."
"There are mergers and acquisitions occurring in this marketplace that create a substantial opportunity for a single-source provider that combines application services, implementation and operational support, hardware, software, and Internet-based communications for large groups of subscribers."
"In developing a channel or vertical market opportunity, we identify members of our subscriber base that are experiencing substantial value using our services and learn from them. We explore our own knowledge resources and competencies as they relate to this new business model, and find them to be substantial or we build on them. We advance our opportunities by partnering with organizations whose mission it is to create or support a business model that matches very closely that of our model profile. We then craft a service that not only meets with the requirements of the target model, but that capitalizes on our understanding of the technology and its applications, our partnerships and alliances, and our own core competencies."
Dicut, Inc.'s unaudited consolidated balance sheet reflects the following:
Current Assets: $48.61
Fixed Assets: $5,000.00
Current Liabilities: $1,602,360.24
Long Term Liabilities: $3,100,612.07
Retained Earnings: -$10,898,052.67
Total Equity: -$3,095,563.46
Total Shares Authorized: 4,100,000,000
Total Shares Issued: 3,371,076,629
For further information about this release About Dicut Inc. or Warner International Corp. (DCUT), Contact Rich Kaiser, Investor Relations, YES INTERNATIONAL at 800-631-8127.
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