CANFIELD, OH, August 22, 2001-EntrePort Corporation (AMEX: ENP) ("EntrePort") and Infotopia, Inc. (OTC BB:IFTA) ("Infotopia" or the "Company"), today announced that they have mutually agreed to not proceed with the proposed merger/reorganization transaction that had been the subject of a previously announced agreement.
Daniel Hoyng, Chairman and CEO of Infotopia, Inc. stated, "After taking into consideration the time, expense and shareholder dilution that would be involved in completing the transaction with EntrePort, we have decided that terminating the transaction would be in the best interest of both companies and its shareholders.
Infotopia is still fully committed to getting on the American Stock Exchange. The Company is currently having the first and second quarter results fully audited and upon successful completion of the audits, Infotopia intends to file its own application with the American Stock Exchange and believes by that time it will meet all the major listing qualifications of the Exchange."
The Company`s mission is to produce, market and distribute an expanding line of high-quality, innovative health, fitness and consumer products. Infotopia seeks out products that deliver superior value, outstanding quality and competitive prices to best satisfy customer demand. The Company markets its products to consumers through a variety of marketing channels, including infomercials, distributor alliances and Internet e-commerce. The management at Infotopia is committed to increasing corporate revenues and profits. The Company`s website is located at http://www.infotopia.tv.
This news release includes "forward-looking statements" that include risk and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation, the Company`s ability to produce and market products and/or services and other risks detailed from time-to-time in the Company`s reports filed with the Securities and Exchange Commission.
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