DENVER, July 31 /PRNewswire/ -- Internet Commerce & Communications
(Nasdaq: ICCXC), a national web solutions/e-commerce and connectivity company,
announced today that it has filed for protection under Chapter 11 of Title 11,
of the United States Bankruptcy Code.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010723/LAM008LOGO )
"We strongly believe we can emerge from this proceeding a much stronger
and viable company," said Douglas Hanson, Chairman & CEO of IC&C. "As one of
the largest investors, I thought long and hard about this decision, but in the
end I felt this was the best course of action for our employees, our vendors
and our shareholders."
The company also announced that it is working with its secured creditor to
provide the funds necessary to meet its on-going financial obligations.
"Our customers will continue to receive the excellent service they have
become accustomed to receiving," Hanson further commented. "In fact, I hope
that this action will make us a formidable competitor in the market place."
About Internet Commerce & Communications
Denver-based Internet Commerce & Communications is a national e-commerce
and connectivity company, focusing on fully integrated solutions for small and
medium-sized enterprises (SME's). The Company specializes in e-business
applications; consulting, hosting, co-location, and web solutions, including
design and marketing; and high-speed access, including DSL service. For more
information about IC&C, call (800) 411-6066, or visit http://www.iccx.net.
This press release may contain forward-looking statements. Although the
company believes these statements are based on reasonable assumptions,
differences between assumed facts and actual results can be material,
depending on the circumstances. Investors should be aware of the important
factors and risks that could have a material impact on future cash results and
should refer to the cautionary statements sections of IC&C's periodic filings
with the Securities and Exchange Commission, including its most recent forms
10-K and 10-Q (including filings made under ticker symbols RMII and INCC).
SOURCE Internet Commerce & Communications
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Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20010723/LAM008LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
Related links:
http://www.iccx.net
CONTACT:
Andrea Scott of Internet Commerce &
Communications, +1-303-313-0804, andrea.scott@iccx.net
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