June 4, 2002 - Las Vegas & New York - Cenicola-Helvin Enterprises announced today that on May 30, 2002, it closed an investment in Hempstead, NY based Torbay Holdings, Inc. (OTC:TRBY), which is developing a biomechanical computer mouse to be marketed through its Designer Appliances subsidiary.
The investment calls for Cenicola-Helvin Enterprises to provide its ViaForce.NET Content Management and Publishing Platform, distributed by its BannerView.com division, along with 3 customized ViaForce.NET modules in addition to programming and consulting services. The ViaForce.NET platform will power Torbay's corporate Web site along with e-commerce and order processing for the Designer Appliances site, which will be the main point of sale system for the Quill™, Torbay's patented biomechanical computer mouse. In exchange for the investment in Torbay Holdings, Inc., Cenicola-Helvin Enterprises will receive 539,568 shares of common stock in a private placement at a strike price of $.278 per share bringing the total deal value to $150,000. The strike price marks a 278% premium over the closing price of Torbay's common stock on May 29, 2002.
The facilities provided by Cenicola-Helvin Enterprises can deliver a fully functioning sales Web site for the US and overseas subsidiaries. In addition, it can provide for order processing and logistics, global warranty registration, sales support and customer tracking, associate sales programs (allowing other sites to link to Torbay's and sell its products) and direct email promotions to site registered users. Build out of Torbay's Web operations is slated for late August 2002.
"We are excited about the opportunity to help bring such an innovative product to market," says Cenicola-Helvin Enterprises President and CEO, Mark A. Cenicola. "This deal confirms the confidence in our ViaForce.NET platform as a basis for a company's Web operations."
The Quill™ will seek to address one of the perceived base causes of mouse user fatigue and clinical conditions associated with mouse usage, which collectively are called Cumulative Trauma Disease (CTD) or Repetitive Strain Injury (RSI) and Carpal Tunnel Syndrome (CTS).
Unlike ergonomically designed mice which are designed more for speed and efficiency rather than comfortable and healthy productivity, the Quill™ is designed to safely interface the computer with the biomechanics of the human body.
Tom Large, President & CEO of Torbay Holdings, Inc. states, "This investment by Cenicola-Helvin Enterprises shows their level of interest in the Quill™. We now have the tools in place to commence the selling of our products as they come to market. The ability for us to close an investment at a premium to the closing price of our stock reinforces our beliefs in the potential value of our company."
About BannerView.com -- http://www.BannerView.com
BannerView.com, a division of Cenicola-Helvin Enterprises, is an E-Business Solutions Provider (E-BSP) at the forefront of developing web enabled platforms. Utilizing the latest in open source software, BannerView.com creates, operates and maintains highly dynamic and robust E-business solutions.
About Cenicola-Helvin Enterprises -- http://www.Cenicola-Helvin.com
Cenicola-Helvin Enterprises is an Internet information resource company publishing a variety of Web sites and services ranging from technology news to classified advertising to providing e-business solutions.
Web sites in the Cenicola-Helvin Enterprises Network (CHE Network) include :
NextShooter.com -- provides a unique view of the game of Craps as seen from "The House" and "Dealer" side of the table.
TwistedQuestions.com -- an entertaining, interactive Web site consisting of far fetched hypothetical questions.
RITRO.com -- Real Insight Through Raw Opinion, is a web community with topics and articles on life experiences in which members and aspiring writers have the opportunity to voice their opinions, vote on topics and obtain writing advice.
YardSaleNet.net -- Striving to be the Internet's largest FREE classified advertising network
Techlines.com -- A premier source for technology enthusiasts to grab the latest headlines from the technology industry including technical, financial, press, and Macintosh news
About Torbay Holdings, Inc. -- http://www.torbayholdingsinc.net
Torbay Holdings, Inc. (THI) is a development stage company who's shares are quoted and publicly traded upon the NASD OTC:BB market under ticker symbol TRBY. THI owns Intellectual Property Rights to a number of devices relating to products generally described as appliances. The first product that THI intends to launch and establish itself as a trading company thereby, exploits a patented design for a Biomechanic Computer Mouse(TM) called the Quill (TM).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control including, but not limited to, market acceptance of new technologies or products, the Company's ability to successfully manufacture and implement a product launch, the Company's ability to file the Registration Statement and once filed, have it declared effective by the Securities and Exchange Commission, the ability and/or desire of the Company's institutional investor to fund the Company in the future and other risks detailed from time to time in the Company filings with the Securities and Exchange Commission.
Press contact for Cenicola-Helvin Enterprises:
Wendi L. Cali
Content Director
Cenicola-Helvin Enterprises
press@Cenicola-Helvin.com
702-312-9444
Press contact for Torbay Holdings, Inc.:
Tom Large
President & CEO
Torbay Holdings, Inc.
TomLarge@torbayholdingsinc.net
516-244-8334
