DENVER, July 19 /PRNewswire/ -- AVE, Inc. (OTC Bulletin Board: AVEN) of Denver, Colorado, today announced that it has signed a letter of intent to acquire CYCO.NET, Inc. of Albuquerque, NM, in a reverse merger. AVE, Inc. has been aggressively pursuing an acquisition since selling its exclusive marketing and patent rights to a NASA-developed flat-plane antenna to Zenith Technology, Inc. (a wholly owned subsidiary of Prime Companies, Inc.) (OTC Bulletin Board: PRMC) in February of this year. CYCO.NET, Inc. is a New Mexico-based corporation established in December 1998 to develop a network of cyber companies. These companies are to be centered around a site called the CYCO.NET ( www.cyco.net ). According to Richard Urrea, President and CEO of CYCO.NET, "This site is a lighthearted destination that will be like the 'People Magazine' of the Internet. This format has proven itself by providing Time Warner with over a billion dollars of ad revenue annually. That, combined with the CYCO.NET's e-commerce and various affiliations, such as Amazon.com, could amount to three times that figure. Not a portal like Yahoo, the CYCO.NET will serve as the launch pad to rocket the Internet surfer into the deepest reaches of cyberspace. We want to show our viewers the full potential of the Internet. In other words, we want people to get 'cyked' about the Internet." R. Gene Klawetter, Chairman and CEO of AVE, Inc., said, "It has been our intent to enhance shareholder value by becoming operational as quickly as possible but, at the same time, we want to join with a company of impeccable credentials having a high-quality management team with an exciting product. We believe CYCO.NET meets all of these criteria." Mr. Klawetter further stated, "The Internet is the fastest-growing medium of communication in history. We consider CYCO.NET's business plan and strategy to be in the best interests of AVE and its shareholders as an exciting and potentially explosive service for millions of Internet users." AVE, Inc. and CYCO.NET, Inc. are pursuing a Share Exchange Agreement and they anticipate its completion by July 31, 1999. Contacts: AVE, Inc. CYCO.NET, Inc. R. Gene Klawetter, Chairman and CEO Richard Urrea, President and CEO 45 Breamore Court 600 Central Ave., SW, 3rd Floor Castle Rock, CO 80104 Albuquerque, NM 87102 (303) 663-3927 (505) 244-0088 Financial statements in this press release other than historical facts are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. AVE, Inc. intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward- looking statements are subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results could differ materially from expected results.
SOURCE AVE, Inc.