MONTREAL, Jan. 11, 2005 (PRIMEZONE) -- Bach-Hauser, Inc. (Pink Sheets:BHSR) announced today that it has received a draft of the conditional letter of intent from Fortune 1000 Group to acquire Bach-Hauser.
The Board of Directors is currently reviewing the proposal. The letter of intent does not include a purchase price but paves the way for detailed negotiations to occur and a due diligence process to begin in order to reach a fair value of the company and that it is in the best interests of its shareholders.
This announcement has been approved by both companies.
Bach-Hauser will be issuing its revenue projections for calendar year 2005 tomorrow morning.
About Bach-Hauser, Inc.
Bach-Hauser, Inc. through its wholly owned subsidiary DM2 Technology is a provider of specialized POS equipment and software, which provides greater flexibility and reliability for debit and credit card financial payments. The company currently sells its products and services through traditional retailers, online retailers, taxis and courier companies. At present, the company has 1,500 installed terminals throughout Canada. It has another 4,000 terminals under contract to be installed which are presently being rolled out.
DM2 Technology specializes in the sale of POS (point of sale) equipment and software to handle bankcard and credit card payments. DM2 Technology has been in the business of handling Interac and credit card transaction payments since the government of Canada deregulated this market. At present, DM2 has terminals in retail outlets in every province except for Newfoundland and PEI. DM2 has growing list of corporate clients and strategic partners such as Rogers Communication, Dynacard Capital, Ingenico, Lipman, Datawest, CIT, BCE Emergis, Datawest, EasyHome, and Teleplus.
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Such forward-looking statements by definition involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that production, pricing levels or other factors pertaining to the manufacturing and retail operations will be sustained at the expected rates or levels over time. Discussions of factors, which may affect future results, are contained in the Company's most recent SEC filings.