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November 13, 2006 - 4:00 PM EST World Education Partners (Formerly Global Education Partners) to Acquire ESP International, Ltd. Equus Resources, Inc. (PINKSHEETS: EQUR) ("Equus" or the "Company") announced today an agreement in principle for the spin-off company, World Education Partners, Inc. ("World Ed") to acquire the assets and operations of ESP (Education Software Partnerships) International, Ltd. ("ESP"). ESP is an acclaimed international education software development and distribution company currently marketing early learning products in 40 countries.
ESP developed the Garfield® Early Learning Series, a combination of Interactive CD ROM software with accompanying 32-page workbooks for kids, which features Garfield®. Garfield® is the world's best known cartoon strip character, currently read by millions of people daily in 135 countries. ESP holds the worldwide license to use Garfield® in its early learning education products and plans to increase its market to 60 countries next year. ESP has just developed an interactive DVD for its learning software which can be played on any DVD player, rather than requiring a computer, which it is test marketing.
As part of the agreement, Mike Gaunt, the President and founder of ESP, will become the President of World Ed. Mike has been involved in education software for almost 20 years. In the late 1980s, Mike served as International Sales Manager for Systems Integrated Research Ltd., a leading UK education software company. In 1996, Mike became head of international sales for IBM, working under Bernie Rice. Mike was in charge of IBM's consumer software brands for all non-U.S. markets, which included World Book Encyclopedia, Edmark Educational Services and the IBM-Crayola education software partnership. Mike moved over to Riverdeep "The Learning Company" after it acquired Edmark from IBM and subsequently left five years ago to found ESP. Mike is a highly respected innovator and marketer in the international education industry.
In making this announcement, Bernie Rice, Executive Chairman of World Ed and Best Practice Network, Inc. ("BPN"), commented: "There can be no doubt about the significant value this acquisition will create for World Ed and in turn the shareholders of BPN and Equus. The international brand strength of Garfield® is exceptional, to say the least. Garfield® is perfect for the early learning series worldwide."
Mike Gaunt added: "We believe that we have created the most extensive range of education multimedia software and accompanying workbooks in the world. We certainly believe that no other software of a comparable nature has been developed in the last ten years for the international marketplace. And we believe our DVD development will expand the number of potential customers tenfold."
Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgment 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, the receipt of revenues, and other factors, many of which are beyond the control of the Company.
I played this one earlier and didn't bother to look at the close until now...Geez, that's awful. I thought the news was better than that...
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quote:Originally posted by moneymaker07: The ask is at .10 right now so this should blow up today. I'm buying more while its low. Good luck everyone.
That does not mean anything. Afterhours, they always keep the spread high for stocks that will not have much action the next day. For great stocks, you will know when it is a gapper.....
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As a new investor i'm looking for advice here. Do you think this stock is worth holding or just selling for a loss and moving on? Without news i dont see this thing moving much but what do i know. Thanks.
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