CROCKETT, Texas, May 15, 2000 (PRIMEZONE) -- ArchivalCD, Inc. (pre-IPO OTC:BB AHCD) has filed an SB2/A with the SEC as of Friday, May 12th, 2000. The company indicates that the original SB2 was filed in December of 1999.
"Of course, it is nice to think that there is a short-term conclusion to a long-term project," said Daniel J. Hay, CEO/President, "but in reality we must still await the SEC review of our amended filing. At this point we are not anticipating any particular date for the IPO but our hopes are high for an early date."
ArchivalCD is a developmental stage company specializing in digital imaging of microfilm and paper for historic archiving. Since 1996 ArchivalCD's Microfilm Viewing Engine(TM) and its digital microfilm(TM) have been the solution for ready accessibility of important doucments on CDR. For the records retention markets it is important that customers have rapid recovery from unexpected records losses. With ArchivalCD's in-house and off-site microfilm and CD storage facilities clients are ensured of fast recovery in the event of unexpected record losses.
According to the SB2 filing, the IPO is a self-underwritten project but ArchivalCD has received consulting and financial assistance from Corporate Vision, Inc. (CVIA) of Tulsa, OK. CVIA will retain between 10 and 15 percent of authorized shares of ArchivalCD, Inc. common stock for their assistance in ArchivalCD's IPO. For additional information concerning CVIA please contact Barry Hall at 918-307-2243.
Some statements in this news release may be considered foward looking statements, subject to uncertainties and risks including, but not limited to, the demand for ArchivalCD product and services, and the ability of the company to successfully implement its strategies, each of which may be impacted, among other things, by economic, competitive, or regulatory conditions.
ArchivalCD, Microfilm Viewing Engine, and Digital Microfilm have been trademarks of ArchivalCD, Inc. since 1996.