New Search
FEB -29 -2000 08:40 SD4J FACILITIES MANAGMENT 1 541 687 3686 P.16/24 <br /> UL /La/Vu 1U. UO:YV FLL. JV•YNN•i *AI • i ^" •.wiMa�Ar.r t/��� <br /> • <br /> Tuesday November 16, 9:03 am Eastern Time <br /> Company Press Release <br /> IRTN Announces Renegotiated Purchase of Avery Sports <br /> Turf. <br /> HASBROUCK HEIGHTS, N,J,— (BUSINESS WIRE) —Nov. 18, 1999— In -Sports International, Inc. (OTC BB: <br /> IRTN - news) <br /> Irtn announced today that Avery Sports Turf of Rome, Georgie and IRTN have modified their original contract <br /> of July 2,1999. The new contract calla for the Wright purchase from George Avery, as Sole Proprietor, rather <br /> than Avery Sports Turf operating as a wholly-owned subsidiary. The terms and conditions of the new contract <br /> . call for the purchase of all Assets and Liabilities, pending sates and receivables as well as the building and <br /> rnanufaduring facilities =randy valued in excess of 51 Miltion Dollars Net, <br /> Both the Cash and Stock original purchases have been reduced from 51 Million in cash to 5300,000 of which <br /> 5100,000 certified funds, was remitted to George Avery, with the balance due on or before December <br /> 31,1999. In addition, George Avery agreed to accept 500,000 shares of Investment Stock instead of Two <br /> Million shares as agreed to in tree original oonVact, resulting in the cancellation of 1.5 Million shares. <br /> George Avery, a pioneer in the Synthetic Turf Industry for 25 years, will introduce a Leasing Program at the <br /> Shareholders Meeting on Friday, November 19,1999, at the Holiday Inn in Hasbrouck Heights, NJ, for the <br /> Golf Driving Range Industry as well as for Football and Soccer Fields both on a National and International <br /> basis. <br /> • <br /> • <br /> • <br /> • <br /> • <br /> • <br /> • <br /> • <br /> • <br /> • <br />