Message #23 From:
NewsBot Date: November 1, 2005 03:57:00 AM
TGLO News theglobe.com Completes Sale of SendTec
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 1, 2005--theglobe.com (OTCBB: TGLO) announced that it has completed the previously announced sale of all the business and assets of its subsidiary, SendTec, Inc. According to Ed Cespedes, president of theglobe.com, "The transaction provided a significant cash on cash return to our shareholders in just over a year and brought back approximately 28.9 million of our outstanding shares, which will be retired." Mr. Cespedes continued, "We continue to be extremely excited about the potential for our other businesses, Tralliance, TGLO and our Computer Games properties. We will continue working towards growing those businesses and creating value for our shareholders."
Safe Harbor
This press release includes forward-looking statements related to theglobe.com, inc. and its subsidiaries, that involve risks and uncertainties, including, but not limited to, risks and uncertainties relating to integration of newly acquired businesses and assets, product delivery, product launch dates, risks relating to the Internet, development and protection of technology, the availability of financing or other capital to fund its plans and operations, the management of growth, market acceptance of our products, our ability to compete successfully against established competitors with greater resources, the uncertainty of future governmental regulation (particularly as it pertains to the Internet), pending litigation, sale of businesses, and other risks. These forward-looking statements are made in reliance on the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these and other factors that could affect theglobe.com's and its subsidiaries future results and business plans, please see the Company's filings with the Securities and Exchange Commission, including in particular our Annual Report on Form 10-KSB for the year ended December 31, 2004 and our quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2005. Copies of these filings are available online at http://www.sec.gov. Prospective investors are cautioned that forward-looking statements are not guarantees of performance. Actual results may differ materially and adversely from management expectations.
