| To: JanyBlueEyes who wrote (93) | 12/23/1998 9:12:00 AM | | From: JanyBlueEyes | | | |
News - First ICN Contacts
The Source Information Management Company Announces the Signing of First Internet ICN Contracts
ST. LOUIS--(BUSINESS WIRE)--Dec. 23, 1998--The Source Information Management Company (NASD:SORC) today announced that it has entered into its first contractual agreements with publishers to participate in Interactive Communications Network (ICN).
The initial publisher clients include Time Distribution Services, Ziff Davis, and Wenner Publications. The Company anticipates additional publisher signings in January, 1999. The Company also intends to introduce ICN to General Merchandise and Confection Vendors early next year.
The secured ICN website allows vendors, retailers, and distributors to communicate interactively and creates the opportunity for publishers to advertise special promotions and new title introductions graphically to retailers and their servicing distributors. Other important usage is the daily revision of chain authorized title lists.
ICN also provides the vehicle through which the Source downloads UPC update information daily on a title by title basis to each individual retail chain. This information is essential to all parties in the distribution network including publishers, distributors and retailers. Utilization of this website expedites the entire information dissemination process and electronically documents all activity.
Initial indications are that retailers currently using the system enter the site an average of 5 to 10 times per day to extract data provided by the Source. Retailers on the system include Kmart, Southland 7-eleven, CVS Drug, A&P (US and Canada), King Soopers, Inc, and many others.
The Company expects to have most retail chains utilizing the ICN website by April 30th, the end of the first fiscal quarter. Retailer usage has created an incentive for vendor participation. Vendors are charged an annual access fee and are billed separately for graphic advertising images and other ICN internet related services.
The Source Information Management Company provides front-end rebate collection and information services to approximately 825 retailers in the United States and Canada via nine offices throughout the continent........
SAFE HARBOR STATEMENT:
The information contained in this release includes statements regarding matters which are not historical facts (including statements regarding the plans, beliefs or expectations of The Source Information Management Company) which are forward-looking statements.....
CONTACT: The Source Information Management Company
W. Brian Rodgers, 314/995-9040 |
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| To: Sergio H who wrote (96) | 12/24/1998 2:23:00 PM | | From: P.E. Allen | | | |
The thirty day chart on this one shows every indication that shortly there is going to be a BREAKOUT on this stock.
Suprised that there is so little posting to this thread.
I guess this is one of those undiscovered stocks that you want to own before Wall Street and the day traders get wind of it.
Another tip from your Uncle Ernie!!!!!!!!! |
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| To: P.E. Allen who wrote (98) | 12/26/1998 8:38:00 AM | | From: P.E. Allen | | | |
| ------ | Respond |
To: P.E. Allen (97 )
From: P.E. Allen Friday, Dec 25 1998 10:40PM ET
Reply # of 98
This company looks to good to be selling at these prices.
Is there a run coming on this one like on NSOL, UBID, etc
stocksheet.com
Another tip from your Uncle Ernie!!!!!!!
CORRECTION OF PRIOR POST |
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| To: JanyBlueEyes who wrote (94) | 12/29/1998 8:36:00 AM | | From: JanyBlueEyes | | | |
News - Acquisition
The Source Information Management Company Agrees to Acquire Canadian Rebate Company
ST. LOUIS--(BUSINESS WIRE)--Dec. 29, 1998--The Source Information Management Company (NASD:SORC) today announced that it has entered into a letter of intent to add Promark's business to Source's Canadian business.
Promark, a Toronto-based magazine rebate company, currently services the majority of retail companies in Canada not currently serviced by the Source. The Source has agreed to pay $1.25 million Canadian for all the assets and assume specified liabilities of Promark. Promark currently has approximately $800,000 Canadian in annual revenues. "This acquisition will compliment our operation in Canada which heretofore has been marginally profitable. The combined operations will now have approximately $1.2 million Canadian in revenues and are anticipated to be accretive to earnings.
This acquisition will now give us the critical mass to introduce SourcePro, our front-end management program, and ICN, our internet communication program, to the majority of retailers in Canada," said S. Leslie Flegel, Chairman of the Source. The acquisition is expected to close in early January 1999.
The Source Information Management Company provides front-end rebate collection and information services to approximately 825 retailers in the United States and Canada via nine offices throughout the continent........
SAFE HARBOR STATEMENT:
The information contained in this release includes statements regarding matters which are not historical facts (including statements regarding the plans, beliefs or expectations of The Source Information Management Company) which are forward-looking statements.......
CONTACT: The Source Information Management Company, St. Louis
W. Brian Rodgers
(314) 995-9040 |
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| To: JanyBlueEyes who wrote (101) | 1/12/1999 8:46:00 AM | | From: JanyBlueEyes | | | |
News - Aquisitions Done
The Source Information Management Company Announces Closing of Acquisitions of Brand Manufacturing Company and Yeager Industries, Inc.
ST. LOUIS--(BUSINESS WIRE)--Jan. 12, 1999--The Source Information Management Company (NASD:SORC) ("Source") announced today that it has closed the previously-announced acquisitions of U.S. Marketing Services, Inc. ("U.S. Marketing"), parent company of Brand Manufacturing Corporation ("Brand") and its affiliated companies, and of Yeager Industries, Inc. ("Yeager").
Brand and Yeager both design and manufacture in-store merchandising units and point-of-purchase displays for retail store chains. Brand's affiliates include The Vail Companies, Inc., which contracts for removal of old fixtures, and T.C.E. Corporation, which is an in-house trucking company shipping front-end fixtures throughout the United States.
U.S. Marketing was acquired in a merger transaction by a subsidiary of Source for 1,926,719 shares of Source common stock and 1,473,281 shares of Series A Convertible Preferred Stock ("Series A Preferred") of Source. The Series A Preferred will be convertible into an equal number of shares of Source common stock upon receipt of shareholder approval of the conversion; if shareholder approval is not received, the Series A Preferred will be convertible into demand debt of Source aggregating $11,388,462. Source will seek shareholder approval of the conversion into Source common stock as soon as practicable. All common shares issued pursuant to the U.S. Marketing transaction (including shares issuable upon conversion of the Series A Preferred) are subject to a one-year lock-up agreement with Source. 1,779,383 of such shares held by the former principal shareholder of U.S. Marketing, and 1,360,617 of the common shares issuable upon conversion of the Series A Preferred, are subject to a two-year voting agreement in favor of Leslie Flegel, Chairman of the Board and Chief Executive Officer of Source, to vote on election of directors and certain other matters; the voting agreement does not cover certain fundamental matters such as mergers, tender offers, sales of assets and the like. The voting agreement will be earlier terminated if the shareholder holds less than 10% of the outstanding common stock of Source.
In the Yeager transaction, Source acquired the assets and assumed the operating liabilities of Yeager for $707,718 cash and 164,289 shares of Source common stock. In addition, Source repaid approximately $1,642,282 of Yeager debt at closing. The cash portion of the consideration may be increased by an aggregate of not more than $500,000 based upon performance of Yeager in fiscal 2000 and 2001. After closing, neither U.S. Marketing nor Yeager had any outstanding
indebtedness.
James R. Gillis, former Chief Executive Officer of Brand, has been elected President of Source with primary responsibility for Source's front-end fixture subsidiaries. Mr. Gillis will report to William Lee, who is now Vice-Chairman and Chief Operating Officer of Source.
Source hopes to complete the acquisition of MYCO, Inc. ("MYCO") by the end of January, 1999 and of Chestnut Display Systems, Inc. and Chestnut Display Systems - North, Inc. (collectively, "Chestnut") as soon as practicable after completion of the audit of Chestnut's December 31, 1998 financial statements. Source has previously announced Letters of Intent to acquire assets and assume liabilities of MYCO and Chestnut, which, like Brand and Yeager, are front-end fixture companies. The acquisitions of MYCO and Chestnut remain subject to negotiation of definitive agreements, due diligence and other customary conditions.
The Source Information Management Company provides front-end rebate collection and information services to approximately 825 retailers in the United States and Canada via nine offices throughout the continent. The Company's innovative technology and systems have enabled an expansion of its core retail display allowance business, bringing to the market both front-end management and interactive communications between vendors and retailers. With the acquisitions of Yeager Industries, Inc. and Brand and Affiliates, and the planned acquisitions of MYCO, Inc. and Chestnut Display, Inc., Source will provide front-end fixture manufacturing, shipping and disposal of old fixtures, thus expanding service capabilities to its retailer and vendor clients.
SAFE HARBOR STATEMENT:
The information contained in this release includes statements regarding matters which are not historical facts (including statements regarding the plans, beliefs or expectations of The Source Information Management Company) which are forward-looking statements......
CONTACT: The Source Information Management Company
W. Brian Rodgers, 314/995-9040 |
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| To: JanyBlueEyes who wrote (102) | 2/3/1999 8:05:00 AM | | From: JanyBlueEyes | | | |
News: Add'l $17 Million Credit
The Source Secures Additional $17 Million in Credit Facilities
ST. LOUIS, Feb. 3 /PRNewswire/ -- The Source Information Management Company (NASDAQ:SORC) announced today it has secured an additional $17 million in credit term facilities from Wachovia Bank, based in Winston-Salem, North Carolina. The financing will be used to complete acquisitions and to execute the purchase of the Company's current operations center located in HighPoint, North Carolina.
The Source Information Management Company currently has a $15 million revolving line of credit that will remain in place. The Company uses the line to fund its Advance Pay Program and other developmental projects. Historically, the Company pays off the line in full, each quarter.
The Company has also negotiated a $4.07 million letter of credit with Wachovia Bank to secure debt related to the recent acquisition of a 350,000 square foot manufacturing facility in Rockford, Illinois, as part of the Company's recent acquisition of MYCO, Inc. The total debt facility is now approximately $36 million.
Commenting on the enhanced relationship with Wachovia, Leslie Flegel, Chairman and Chief Executive Officer of The Source, said, "The extension of our credit facilities with Wachovia is in line with our strategy to aggressively acquire businesses which will enhance our position as a leading 'infomediary' company which facilitates publishers and other front-end vendors to conduct business with retailers efficiently and profitably based on the transmission of critical information."
The Source Information Management Company provides front-end rebate collection and information services to approximately 825 retailers in the United States and Canada via nine offices throughout the continent. The Company's innovative technology and systems have enabled an expansion of its core retail display allowance business, bringing to market both front-end management and interactive communications between vendors and retailers. The Company also provides front-end fixture manufacturing, thus expanding service capabilities to its retailer and vendor clients.
The information contained in this release includes statements regarding matters which are not historical facts (including statements regarding the plans, beliefs or expectations of The Source Information Management Company) which are forward-looking statements..... |
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