SOURCE: Parafin Corporation

April 19, 2006 09:00 ET

ParaFin Acquires 100% of the Assets of P--CE Computers, Inc. and Terminates Contract to Acquire 100% of P--CE Computers, Inc. Shares ( www.mypce.com )

PALM SPRINGS, CA -- (MARKET WIRE) -- April 19, 2006 -- ParaFin Corporation (OTC BB: PFNC) has announced that it has acquired 100% of the assets of PCE for $6,000,000. All Patents, Patents Pending, intellectual properties, all development concepts owned by PCE and all internet web sites and e-Mail addresses are now the property of ParaFin Corporation.

By mutual agreement, ParaFin and Rukos terminated the previously announced offer to purchase up to 100% of the issued and outstanding common shares of P--CE Computers, Inc. (Personal Computer Environments (PCE)) and instead, the Board Directors and a majority of the shareholders of PCE agreed to sell 100% of the assets to ParaFin. Before the acquisition of the Assets of PCE, the shares of PCE ParaFin previously acquired by ParaFin were sold back to Rukos Security Advice AG, ParaFin's Investment Banker. The acquisition of 100% of the assets of PCE by ParaFin puts ParaFin in a much stronger position to proceed with the sales and development of the PCE ergonomic work station. ParaFin is in the same position financially as it would have been in had it acquired 100% of the shares of PCE from PCE shareholders.

PCE has developed a radical design of the Personal Computer Environment for the computer workspace: the Anti-Cubicle (U.S. Patent Pending). The Anti-Cubicle, a C-shaped design (www.mypce.com), extends one or more LCD monitors directly in front of the user. This places the user in the center of their computing, communications and entertainment devices.

PCE's innovative design is ergonomically engineered to reduce users' susceptibility to repetitive stress injuries and musculoskeletal disorders and, therefore, contributes to decreased employee health care costs and increased productivity. The design has garnered impressive international media attention on CNN and TechTV, and in Wired and Stuff magazines. Call centers, computer programming, product design, education, financial brokerage, radiology reading, security monitoring, and video gaming are only a few of the applications for the units.

"The acquisition of 100% of PCE's assets is a very positive step and now allows ParaFin to immediately proceed to production of the PCE units. This product has international sales potential to a huge variety of industries," said Sid Fowlds, president and CEO of ParaFin Corporation. People around the world now spend over half their waking hours doing their jobs and managing their lives on a computer and LCD screen. They are uncomfortable, subject to repetitive stress injuries and vulnerable to other disorders. The PCE is the perfect answer. People at work or play can now become more comfortable, healthy and productive.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to those, set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Contact Information

  • ParaFin Corporation:
    Telephone: (877) 613-3131
    Facsimile: (866) 613-3131
    Internet Web Site:
    parafincorp.com
    mypce.com
    E-Mail: ceo@parafincorp.com