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UBRANDIT.COM SIGNS DEFINITIVE AGREEMENT TO ACQUIRE MINDTRONICS CORPORATION
San Diego, California, December 4, 2000 - - Ubrandit.com(TM) (AMEX:UBI), a
business to business provider of branded Internet solutions, today announced
that it has entered into a definitive agreement to acquire all of the
outstanding shares of Mindtronics Corporation, a diversified research and
development company specializing in leading edge technology for the
international market.
Mindtronics's products under development include computer hardware, software,
and product design for high tech applications including telecomm network
synchronization, audio and video compression, database engineering, and advanced
search engine technologies and methodologies.
"With this acquisition we will substantially broaden the technological product
and knowledge base of Ubrandit.com," stated Jefferey Phillips, president and CEO
of Ubrandit.com. "In addition to the further development and marketing of
Mindtronics's products, we intend to integrate many of Mindtronics's proprietary
technologies into our ISP/ASP branding platforms."
Mindtronics is the developer of NanoTime(C), a satellite-based time
synchronization system for IP networks and telecomm switch networks. NanoTime is
currently in patent pending status. Utilizing a combination of improved clock
models, specially engineered algorithms, and proprietary signal processing
features, NanoTime is designed to send highly accurate time signatures across
large computer and telecommunication networks. The system has been designed to
operate with consistent long-term accuracy. NanoTime's "clean" time signature
increases the flow of information across a network thus improving bandwidth
capabilities. Mindtronics is currently conducting expanded tests and is in
negotiations with telecomm companies internationally.
Roger Royce, Chairman of the Board of Ubrandit.com, stated, "Upon extensive due
diligence and independent analyses of Mindtronics's specialized technologies,
the Board believes that this significant acquisition will establish another
important cornerstone for the diversification and enhanced shareholder value of
the Company.
Rod Ylst, president of Mindtronics Corporation, commented, "We are delighted to
join the Ubrandit.com team. Given the management and marketing talent at
Ubrandit.com and the research and technology base at Mindtronics, we should be
able to produce an extraordinary opportunity."
Ubrandit.com expects the Mindtronics acquisition to be completed sometime in
January 2001. The acquisition is subject to numerous conditions including
Ubrandit.com shareholder approval. Ubrandit.com intends to discuss Mindtronics's
other products and proprietary hardware and software applications in later press
releases and company reports as patents reach pending status.
About Ubrandit.com
Ubrandit.com provides co-branded Internet content and revenue-producing
applications to businesses and media groups. The Company offers the following
suite of co-branded products and services: Ubrandit ISP(TM), a virtual Internet
Service Provider program with more than 2,900 dialup locations across North
America and Europe; JungleJeff.com(TM), an eCommerce platform featuring over one
million music, book, video, and DVD titles; and StockStudy.com(TM), a
comprehensive financial information platform comprising North American financial
market data. More information about Ubrandit.com's services is available at
www.Ubrandit.com. Ubrandit.com press releases and other company news are
available for e-mail delivery at
http://www.Ubrandit.com/corporate/index.asp?cat=corporate.
This press release contains certain forward looking statements regarding the
future plans and expected performance based on assumptions the company believes
to be reasonable. A number of risks and uncertainties could cause actual results
to differ materially from these statements, including, without limitation, the
timeliness of development activities, as well as other risk factors described
from time to time by Company documents and reports filed with the Securities and
Exchange Commission.
