June 21, 2001 07:44am
Rick's Cabaret International Inc. Acquires Pornauction.com
Source: Rick's Cabaret International Inc.
by: Company Press Release
(HOUSTON, TX) -- Rick's Cabaret International Inc. (Nasdaq:RICK - news) announced today the acquisition of pornauction.com. This transaction is part of Rick's growth strategy for its Naughtybids.com adult auction site.
Eric Langan, president and CEO of Rick's stated, ``This transaction is part of our plan to continue building on the success of our Naughtybids.com auction site. We will continue to acquire domains that have good search engine rankings as well as competing sites with a significant membership base.'' Mr. Langan continued, ``Naughtybids continues to grow with hundreds of new items added to the site each day.''
This press release contains forward looking statements that involve a number of risks and uncertainties. Important factors that could cause Rick's actual results to differ materially from those indicated in this press release include the risks and uncertainties as to whether the definitive documentation will ultimately be executed, the future operational and financial results of the newly acquired Web site, the future operational strength of Voice Media, the laws governing the operation of adult entertainment businesses, competitive factors, dependence on key personnel and the ability to manage operations. Rick's has no obligation to update or revise the forward looking statements to reflect the occurrence of future events or circumstances.
Rick's Cabaret International Inc., Houston
Eric Langan, 713/820-1181
The Howell Group, Dallas
Larry Howell, 214/368-1592