IRVINE, Calif., Jan. 12, 2004 (PRIMEZONE) -- eSynch Corporation (OTCBB:ESYN) today announced that it will file separate financial statements for each of their subsidiaries; Oxford Media and Kiss Software, in conjunction with eSynch's 10K filing. Both spin-offs will file for a listing on the OTCBB in 2004. eSynch recently announced that the NASD approved its return to trading on the Bulletin Board.
In a separate matter, the Board of Directors of eSynch recently agreed to acquire eMOD Systems, Inc. and its wholly owned subsidiaries, including SkyPath Satellite Systems, Inc. Final terms and conditions are being prepared and closing documents will be forthcoming.
eMOD Systems is a digital solutions company concentrating on the secure high quality distribution of digital video content to the hotel industry. SkyPath is a leading designer and manufacturer of in-room satellite programming for commercial lodging, condominiums and apartments, convention centers and sports arenas.
eSynch recently revised its business plan calling for the spin-off of its subsidiaries. Shareholders will benefit in all spin-offs but must maintain a position in eSynch to receive future pro-rata distributions of all spin-offs. eSynch is presently evaluating three other proposals for spin-offs.
About eSynch:
eSynch Corporation (http://www.esynch.com), founded in 1994, is a holding company for software development companies who design solutions for a myriad of business applications.
Safe Harbor
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, the ability to negotiate outstanding prior debts of acquired companies; properly identify acquisition partners; adequately perform due diligence; manage and integrate acquired businesses; react to quarterly fluctuations in results; raise working capital and secure other financing; respond to competition and rapidly changing technology; deal with market and stock price fluctuations; and other risks. These are and will be detailed, from time to time, in eSynch's Securities and Exchange Commission filings, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from management's expectations.
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