Whitney Information Network Acquires Teach Me To Trade
Whitney Information Network Acquires Teach Me To Trade
Accretive Acquisition to Help Diversify WIN's Educational Offerings
For Immediate Release
For More Information:
Earnest Mathis, Inverness Investments 303/794-9450
Ron Simon, CFO 239/542-8999
Comprehensive Communications 480/540-8336
CAPE CORAL, Fla.—July 30, 2002 —Whitney Information Network, Inc., a leading provider of post-secondary career training programs designed to teach students how to accumulate and protect wealth, today announced it has completed the acquisition of Teach Me To Trade (TMTT), a five-year-old Salt Lake City company which offers a variety of Stock and Investing training and software throughout the country. The acquisition is part of Whitney Information Network's ongoing strategy to diversify product offerings by developing or acquiring educational operations in various financial-related segments. The acquisition was financed internally, using cash and stock and is expected to be immediately accretive to shareholders. TMTT is expected to add a substantial increase in sales to WIN in 2003. “The products offered by Teach Me To Trade are best-in-class, and provide excellent synergies with the products and services already offered by Whitney Information Network,” said Michael J. Mucci, Vice President of Business Development for Whitney Information Network. “Utilizing the excellent marketing and promotional vehicles already in place for WIN, we will aggressively market Teach Me To Trade throughout the United States. We anticipate expanding the Teach Me To Trade products Internationally, initially targeting Canada and the United Kingdom during the next six months.” Russ Whitney, WIN's Chairman and Chief Executive Officer, commented, “We continue to explore appropriate acquisitions to further our diversification strategy. We have built a successful business in the specialty of real estate investing education and asset protection. That success has provided Whitney Information Network a strong cash position and a Whitney Information Network Acquires respected presence in the post-secondary career training segment. We plan to leverage these strengths by developing training programs in other financial-related disciplines and enhancing their visibility through our established marketing programs.” Founded in May of 1998, Teach Me To Trade started with a goal of designing and implementing a high-impact educational tool that would teach investors how to succeed in the stock market in the shortest amount of time possible. Since then, it has become an innovative and unrivaled leader, reaching a new generation of investors. Teach Me To Trade provides instruction on: cashing in during a down market, maintaining high returns in a stagnant market, conducting fast and effective fundamental analysis of stocks, managing portfolios and minimizing risk. Teach Me To Trade's system is similar to the “stair stepped” real estate investing system successfully marketed by Whitney Information Network. The program starts with a free preview training conducted in several cities throughout the country. From there, students enroll in a 3-day basic training academy that truly combines state-of-the-art curriculum and software with hands-on training. Then, students may enroll in several specialized, high-level training courses that include a Single Stock Futures Training, the Trading P.I.T. and Advanced P.I.T., the Master Trader Training and Asset Protection and Tax Relief. Finally, the Personal Mentor program invites students to sit side-by-side with a professional trader at a brokerage in Salt Lake City, Utah to see firsthand how to prepare for the trading day. More information on Teach Me to Trade can be found at their web site at www.teachmetotrade.com. Whitney Information Network, Inc. has emerged as a leader in the post-secondary career training sector. Whitney is a fully integrated training and education company that creates, produces and markets a wide variety of training programs. Thousands of students register each week for training in real estate investment, personal finance and small business development. The Company maintains its International Corporate Headquarters in Cape Coral, Florida, with its consulting group based in Salt Lake City, Utah. Its Canadian subsidiary, Whitney Canada, Inc., conducts its operations from the Toronto suburb of Mississauga, Ontario and its United Kingdom subsidiary, Whitney UK, Limited is located in Chiswick, England. The Company is located on the Internet at http://www.russwhitney.com and its shares trade under the ticker symbol RUSS on the Electronic Bulletin Board. Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the reform act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainty, uncertainties relating to economic issues and competition. Reference is made to all of the Company's SEC filings, including the Company's Reports on Forms 10KSB, 10QSB and other periodic reports.
For More Information:
Earnest Mathis, Inverness Investments 303/794-9450
Ron Simon, CFO 239/542-8999
Comprehensive Communications 480/540-8336
CAPE CORAL, Fla.—July 30, 2002 —Whitney Information Network, Inc., a leading provider of post-secondary career training programs designed to teach students how to accumulate and protect wealth, today announced it has completed the acquisition of Teach Me To Trade (TMTT), a five-year-old Salt Lake City company which offers a variety of Stock and Investing training and software throughout the country. The acquisition is part of Whitney Information Network's ongoing strategy to diversify product offerings by developing or acquiring educational operations in various financial-related segments. The acquisition was financed internally, using cash and stock and is expected to be immediately accretive to shareholders. TMTT is expected to add a substantial increase in sales to WIN in 2003. “The products offered by Teach Me To Trade are best-in-class, and provide excellent synergies with the products and services already offered by Whitney Information Network,” said Michael J. Mucci, Vice President of Business Development for Whitney Information Network. “Utilizing the excellent marketing and promotional vehicles already in place for WIN, we will aggressively market Teach Me To Trade throughout the United States. We anticipate expanding the Teach Me To Trade products Internationally, initially targeting Canada and the United Kingdom during the next six months.” Russ Whitney, WIN's Chairman and Chief Executive Officer, commented, “We continue to explore appropriate acquisitions to further our diversification strategy. We have built a successful business in the specialty of real estate investing education and asset protection. That success has provided Whitney Information Network a strong cash position and a Whitney Information Network Acquires respected presence in the post-secondary career training segment. We plan to leverage these strengths by developing training programs in other financial-related disciplines and enhancing their visibility through our established marketing programs.” Founded in May of 1998, Teach Me To Trade started with a goal of designing and implementing a high-impact educational tool that would teach investors how to succeed in the stock market in the shortest amount of time possible. Since then, it has become an innovative and unrivaled leader, reaching a new generation of investors. Teach Me To Trade provides instruction on: cashing in during a down market, maintaining high returns in a stagnant market, conducting fast and effective fundamental analysis of stocks, managing portfolios and minimizing risk. Teach Me To Trade's system is similar to the “stair stepped” real estate investing system successfully marketed by Whitney Information Network. The program starts with a free preview training conducted in several cities throughout the country. From there, students enroll in a 3-day basic training academy that truly combines state-of-the-art curriculum and software with hands-on training. Then, students may enroll in several specialized, high-level training courses that include a Single Stock Futures Training, the Trading P.I.T. and Advanced P.I.T., the Master Trader Training and Asset Protection and Tax Relief. Finally, the Personal Mentor program invites students to sit side-by-side with a professional trader at a brokerage in Salt Lake City, Utah to see firsthand how to prepare for the trading day. More information on Teach Me to Trade can be found at their web site at www.teachmetotrade.com. Whitney Information Network, Inc. has emerged as a leader in the post-secondary career training sector. Whitney is a fully integrated training and education company that creates, produces and markets a wide variety of training programs. Thousands of students register each week for training in real estate investment, personal finance and small business development. The Company maintains its International Corporate Headquarters in Cape Coral, Florida, with its consulting group based in Salt Lake City, Utah. Its Canadian subsidiary, Whitney Canada, Inc., conducts its operations from the Toronto suburb of Mississauga, Ontario and its United Kingdom subsidiary, Whitney UK, Limited is located in Chiswick, England. The Company is located on the Internet at http://www.russwhitney.com and its shares trade under the ticker symbol RUSS on the Electronic Bulletin Board. Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the reform act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainty, uncertainties relating to economic issues and competition. Reference is made to all of the Company's SEC filings, including the Company's Reports on Forms 10KSB, 10QSB and other periodic reports.