VillageWorld.com,
Inc. Signs Agreement to Acquire Biometrics 2000 Corporation
[5th November 2003]
BOHEMIA,
N.Y., Nov 5, 2003 (BUSINESS WIRE) -- VillageWorld.com,
Inc. (VILW) (www.villageworld.com),
today announced that it signed an agreement with Biometrics
2000 Corporation of Springfield, MA that provides for
the merger of Biometrics 2000 into a wholly owned subsidiary
of Villageworld. The merger agreement was signed by
representatives from Biometrics 2000 and Villageworld.
Biometrics
2000 Corporation ("BIO"), founded in 2000,
is a Springfield, MA based developer and reseller of
unique biometric products for access control. BIO is
led by Joseph Turek, one of the world's leading biometrics
experts. Mr. Turek is Chairman of the Biometrics Industry
Group, a director of the Security Industry Association,
and a member of the Homeland Security Group, which is
recommending biometric standards and specifications
for access control devices to Congress and the Homeland
Security Department.
Terms
of the merger agreement provide that BIO will merger
into a wholly owned subsidiary of Villageworld and in
exchange the shareholders of BIO will be issued shares
of Villageworld's Common Stock that will approximate
55 percent of the outstanding shares of Villageworld
following the transaction, calculated on a fully diluted
basis.
About
VillageWorld.com
VillageWorld.com
designs, supplies, implements, operates and maintains
advanced secure high-speed data networks for universities,
school systems, the military and business including
all related hardware, software and network facilities.
The Company also provides Internet/Intranet messaging
and security products and chat room, shopping cart,
advertising, web hosting and co-location software and
services. The Company is a reseller for Cisco Systems
(CSCO), Lucent Technologies (LU), Nortel Networks (NT),
Sun Microsystems (SUNW), Fore Systems and others in
the Network Integration business.
About
Biometrics 2000
Biometrics
2000 is a company that develops identification and security
products that recognize people through their unique
characteristics such as fingerprints. Fingerprint readers
solve the significant problems associated with traditional
access methods from a security standpoint. Fingerprint
technology also will be preferred in the future over
other methods such as smart cards, magnetic stripe cards
and conventional keys all of which can be lost or stolen.
This
news release may include comments that do not refer
strictly to historical results or actions and may be
deemed to be forward-looking within the meaning of the
safe harbor provisions of the U.S. federal securities
laws. These include, among others things, statements
about expectations of future revenues, cash flows and
capital requirements. Forward-looking statements are
subject to risks and uncertainties that may cause the
company's results to differ materially from expectations.
These risks include the company's ability to consummate
the merger, the company's ability to further develop
its business, the company's ability to develop appropriate
strategic alliances and successful development and implementation
of technology, acceptance of the company's products
and services, and other such risks as the company may
identify and discuss from time to time, including those
risks disclosed in the company's filings with the Securities
and Exchange Commission. Accordingly, there is no certainty
that the company's plans will be achieved.
SOURCE:
VillageWorld.com, Inc.
VillageWorld.com,
Inc.
Peter J. Keenan, 631-231-2070
or
Biometrics 2000, Springfield
Joseph J. Turek, 413-736-9700 |
