June 22, 2000 12:03pm
NuWeb Solutions, Inc.: Adult Online Entertainment Companies Acquired
Source: NuWeb Solutions, Inc.
by: Company Press Release
(POMPANO BEACH, FL) -- NuWeb Solutions, Inc. (Pink Sheets:NWEB) (``NuWeb'') announces that it has acquired substantially all of the assets of Webnet Design, LLC, and Performance Capital, LLC and the equity of The Greatest, Inc. and Adult Age, Inc. (collectively, the ``Webnet Parties'').
The combined entities operate under the name NuWeb Solutions, Inc.
NuWeb is engaged in the design, sale and operation of adult web sites, such as the girlshouse.com and clubxxx.net. In addition, NuWeb produces and markets live, interactive video feeds under the name ``The Girls House''; develops and designs search engines geared towards adult-themed sites; produces and markets subscription-based sites providing adult entertainment and age-verification service. ``Adult Age'', designed to assist small-to-medium sized Web site operators, established a presumption that user's of their websites are twenty-one years of age or older.
NuWeb currently operates out of a 20,000 square foot production facility in Florida, from which its Internet services are provided via high speed, fiber optic cabling and T-3 Internet connections.
In 1999, the Webnet Parties had revenues of $2,200,000 net of returns and refunds and a loss of $258,000.
NuWeb believes that we are the first publicly traded exclusively adult online Internet Company.
Andrew Chandler, CEO of NuWeb, stated: ``We at NuWeb are enthusiastic about being a public company. We believe a public-traded stock will help us retain and attract people we need to grow our business. We believe the additional capital recently raised shows that investors are beginning to appreciate the market potential in adult entertainment. Being a publicly traded company may also enable us to acquire other companies in our industry.''
Statements made in this release state NuWeb's or management intentions, expectations, or predictions of the future are forward-looking statements. The NuWeb's actual results could differ materially from those projected in the forward-looking statements, and there can be no assurance that estimates of the future results will be achieved.
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