EX-99.1
3
ex99_1.htm
EXHIBIT 99.1
Exhibit 99.1
January
17th,
2008
FOR
IMMEDIATE RELEASE
Language
Access Network Enters Into Definitive Agreement to Sell T-LAN
Transaction
to Improve Balance Sheet and Position The Company For Future
Acquisitions
COLUMBUS,
Ohio
-
Language Access Network (OTCBB:
LANW),
announced today that it has entered into a definitive agreement with Interim
Support, LLC, to purchase certain assets of its wholly owned subsidiary Language
Access Network, LLC.(T-LAN) for $1.25 million, through the assumption of debt
by
the purchaser. The sale of TLAN will allow the Company to focus on the
development of IBeam Solutions, LLC. (IBeam), and to pursue
acquisitions.
In
conjunction with the sale of the subsidiary, effective Jan. 16, 2008, the
Company appointed Eric Schmidt, President of IBeam, as its new Chief Executive
Officer and Director, and accepted the resignation of Michael Guirlinger, the
former CEO, and other Directors and Officers.
"We
believe we are well positioned to grow IBeam and make attractive acquisitions,"
said Mr. Schmidt. "The sale of TLAN will enhance our balance sheet, improve our
financial results and allow us to, grow IBeam Solutions, which grossed $2MM
in
2007 with an 11% EBITDA, and to acquire viable companies to help build a
brighter future".
Additional
details of the transaction can be found in LANW's 8K filing with the
SEC.
Safe
Harbor Statement
This
release contains "forward-looking statements" within the meaning of Section
27A
of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected", "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements
are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected
in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as
a
result of various factors, and other risks identified in a companies' annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission.
****
Corporate
Language
Access Network, Inc.
IBeam
Solutions, LLC.
614-833-9713
info@ibeamsolutions.com

EX - 99 . 1 3 ex99 _ 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 January 17th , 2008 FOR IMMEDIATE RELEASE Language Access Network Enters Into Definitive Agreement to Sell T - LAN Transaction to Improve Balance Sheet and Position The Company For Future Acquisitions COLUMBUS , Ohio - Language Access Network ( OTCBB : LANW ) , announced today that it has entered into a definitive agreement with Interim Support , LLC , to purchase certain assets of its wholly owned subsidiary Language Access Network , LLC . ( T - LAN ) for $ 1.25 million , through the assumption of debt by the purchaser . The sale of TLAN will allow the Company to focus on the development of IBeam Solutions , LLC . ( IBeam ) , and to pursue acquisitions . In conjunction with the sale of the subsidiary , effective Jan. 16 , 2008 , the Company appointed Eric Schmidt , President of IBeam , as its new Chief Executive Officer and Director , and accepted the resignation of Michael Guirlinger , the former CEO , and other Directors and Officers . " We believe we are well positioned to grow IBeam and make attractive acquisitions , " said Mr . Schmidt . " The sale of TLAN will enhance our balance sheet , improve our financial results and allow us to , grow IBeam Solutions , which grossed $ 2 MM in 2007 with an 11 % EBITDA , and to acquire viable companies to help build a brighter future " . Additional details of the transaction can be found in LANW 's 8K filing with the SEC . Safe Harbor Statement This release contains " forward - looking statements " within the meaning of Section 27A of the Securities Act of 1933 , as amended , and Section 21E the Securities Exchange Act of 1934 , as amended and such forward - looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 . " Forward - looking statements " describe future expectations , plans , results , or strategies and are generally preceded by words such as " may " , " future " , " plan " or " planned " , " will " or " should " , " expected " , " anticipates " , " draft " , " eventually " or " projected " . You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances , events , or results to differ materially from those projected in the forward - looking statements , including the risks that actual results may differ materially from those projected in the forward - looking statements as a result of various factors , and other risks identified in a companies ' annual report on Form 10 - K or 10 - KSB and other filings made by such company with the Securities and Exchange Commission . **** Corporate Language Access Network , Inc . IBeam Solutions , LLC . 614 - 833 - 9713 info@ibeamsolutions.com
O O O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY O O O O O O O O O O O O O O O O O B-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY O O O O O O O O O O B-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O