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InternetArray to Spin Off BidSellBuy and Premier Gold Traders(April 11, 2012)
NEW YORK, NY -- (Marketwire) -- 04/11/12 -- InternetArray, Inc. (PINKSHEETS: INAR) announced today that its Board of Directors has authorized the Company to file Form S-1 registration statements to spin off its wholly-owned subsidiaries BidSellBuy Inc. and Premier Gold Traders, Inc. for the benefit of its shareholders. It is contemplated that both subsidiaries will become independent and fully-reporting companies listed on the Over-the-Counter Bulletin Board ("OTCBB"). As part of the overall plan, common stock of each subsidiary will be distributed to InternetArray shareholders upon obtaining effective registrations with the Securities and Exchange Commission and upon obtaining an OTCBB listing.
The potential spin-offs are consistent with InternetArray's business plan to create, acquire, develop -- and when appropriate -- spin off innovative internet technology businesses. As independent fully reporting public companies, both BidSellBuy and Premier Gold Traders will have increased flexibility to pursue existing business plans.
About InternetArray, Inc. (www.internetarray.com)
InternetArray, Inc. provides guidance and investment for innovative, early stage Internet companies. The Company's mission is to identify and develop collaborative business partners into viable and profitable companies
This press release may contain certain statements that are not descriptions of historical information, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These forward-looking statements refer to matters that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.
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