TORONTO, April 22, 2004 (PRIMEZONE) -- Bach-Hauser, Inc. (Pink Sheets:BHUS) announced today it has signed an intent agreement with Digital Video Networks, Inc. (DVNI), a privately-held Nevada corporation. DVNI holds letter agreements granting it certain manufacturing and marketing rights for new video-conferencing/video-streaming technologies owned by Broadcast International. According to the agreement, Bach-Hauser has negotiated an acquisition of 40% of DVNI to be paid for in stock and cash to acquire sub-licenses to sell the video conferencing system in Canada, Korea, and China, plus being included in future manufacturing currently being negotiated in Korea by DVNI with notable hardware manufacturers.
DVNI is based in Salt Lake City, Utah. The president of DVNI is Russell J. Heaton, also a director of Bach-Hauser. For more information on DVNI, please see their website at www.dvni.net.
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.