Active Link Communications, Inc.
Form 8-K
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
MOBILITY CONCEPTS INITIATES AGGRESSIVE PLAN TO RESOLVE INHERITED DEBT, RAISE
CAPITAL AND POSITION COMPANY FOR FUTURE GROWTH
Company Working To Reach Creditor Compromises On Over $5.4 Million
In Debt Related To Discontinued Operations
CHICAGO, IL - (PR NEWSWIRE) - FEBRUARY 20, 2003 - Mobility Concepts, Inc., a
leading provider of mobile computing solutions to Fortune 2000 companies and the
operating subsidiary of Active Link Communications, Inc. (OTCBB:ACVE), announced
that it has filed its Form 10-QSB Report with the U.S. Securities and Exchange
Commission reflecting financial results for the third fiscal quarter, ended
December 31, 2002. In addition, Mobility Concepts announced plans for:
o resolving over $5.4 million in debt, assumed primarily by
Mobility Concepts with the merger into Active Link
Communications in November 2001;
o raising necessary capital to address immediate working capital
requirements and fund new sales; and
o positioning Mobility Concepts for enhanced growth and ultimate
profitability.
Specifically, Mobility Concepts has assembled an internal task force responsible
for contacting creditors and negotiating a compromise of debt. The Company has
also entered into negotiation with a group of private investors to provide for
an equity investment of up to $2 million. The private group is currently
conducting due diligence and will require the successful negotiation by Mobility
Concepts of compromise agreements with creditors. Management has been informed
by the potential investors that a large percentage of the potential equity
investment must be applied towards funding working capital requirements and
supporting new sales. Mobility Concepts expects to announce new sales contracts
in the near future.
Timothy Ells, Chief Executive Officer of Mobility Concepts, stated, "In order to
gain meaningful traction in our industry and capitalize on prevailing growth
opportunities, it has become apparent that Mobility Concepts must aggressively
seek relief from the debt load we assumed in the merger. We are hopeful that
once this objective is achieved, Mobility Concepts can focus exclusively on the
growth of our operating business. Our strategy to cut costs has already resulted
in a substantial reduction in operating expenses. Moreover, our sales pipeline
has reached record levels. This gives us reason to be very enthusiastic about
the future of Mobility Concepts."
ABOUT MOBILITY CONCEPTS, INC.
Mobility Concepts, the operating subsidiary of Active Link Communications, Inc.,
is a leading provider of wireless networking and mobile computing solutions for
the mobile workforce. The Company offers complete solutions that include
business consulting, project design, handheld pen-based computers, wireless
technologies, software development, systems integration, project management and
ongoing managed services and warranty support. Mobility Concepts provides
customers with a wide selection of mobile products and services in order to
successfully implement, manage and deploy mobile and wireless projects. With
headquarters in Naperville, Illinois and offices in Los Angeles, Milwaukee,
Detroit, Atlanta, Cincinnati, and Denver, the Company has relationships with
more than 30 vertical software developers and hardware manufacturers. Customers
include such organizations as General Dynamics, AC Nielsen, Dow Agrosciences and
Northwest Airlines. For additional information, visit the Company's web site at
http://www.mobilityconcepts.com.
Statements made in this news release that are not historical facts may be deemed
forward-looking, including statements regarding the Company's future operations.
These statements may be accompanied by words such as "believe," "estimate,"
"project," "expect," "anticipate," or "predict," that convey the uncertainty of
future events or outcomes. These statements are based on assumptions that the
Company believes are reasonable; however, many factors could cause the Company's
actual results in the future to differ materially from the forward-looking
statements made herein and in any other documents or oral presentations made by,
or on behalf of, the Company. Important factors which could cause actual results
to differ materially from those in forward-looking statements, include, among
others, the ability to obtain additional financing, which is not assured; the
ability to negotiate compromises of outstanding debt satisfactory to the Company
and prospective investors, which is not assured; price and product competition
by foreign and domestic competitors, including new entrants; rapid technological
developments and changes; the Company's relationship with its suppliers and
suppliers' ability to provide products on a timely basis; the achievement of
lower costs and expenses; reliance on large customers; the Company's ability to
attract acquisition candidates and to successfully integrate acquisitions into
the Company's business; interest rate fluctuations and other general economic
conditions; as well as factors discussed in the Company's filings with the
Securities and Exchange Commission. The Company assumes no obligation to
publicly update or revise any forward-looking statements made herein or any
other forward-looking statements made by the Company.
FOR MORE INFORMATION, PLEASE CONTACT:
ACTIVE LINK COMMUNICATIONS, INC. (MOBILITY CONCEPTS, INC.)
Sally Ball, Director of Marketing and Communications
630-955-9755 or via email at sball@mobilityconcepts.com
OR
Investor/Broker/Media Relations, Elite Financial Communications Group, LLC
Stephanie Noiseux, Vice President of Client Relations
407-585-1080 or via email at steph@efcg.net