About Us

Reed Sumida - Principal Merger & Acquisitions Specialist has a long history of leading the negotiations, developing teams, and advocating on all sides of a transaction. See what Mr. Sumida has done and what some of his clients have said about him.

Client's Comments:

"I know, without a doubt, that Mr. Sumida generated at least four times his fee in dditional sale price. Had I not hired Mr. Sumida, I would have walked away from this sale with a lot less money." - Richard Beil, President Tembo Telecom

'Mr. Sumida is a seasoned veteran of the game who can play hardball if needs be." - Douglas Stewart, President, Utopia

"I would like to take this opportunity to thank you for your expertise in the purchase of our facility. I have no doubt that without your help, this would never have happened." Randy Larue - Past Chair of the Board, OMESS

Accomplishments:

Recruited for prospects and negotiated the sale of 15 businesses for an international franchise operator.

Created and led the negotiating team completing 18 acquisitions on behalf of a technology company.

Recruited for prospects and negotiated the sale of 8 businesses for a garment industry operator.

Recruited for prospects and negotiated the sale of 3 businesses for a leather goods retailer.

Recruited for prospects and negotiated the acquisition of six new facilities for an energy company.

Merged a telecommunications company into an existing unrelated public company.

News Releases:

PCNet International Inc.
("PCNet") is pleased to announce that it has executed an agreement for the acquisition of the shares of Brand & Associates Inc. ("Brand") an Internet service provider with annual revenues of approximately $550,000. The transaction is scheduled to be effective as at June 1, 2001. The acquisition of the shares of Brand is an arm’s length acquisition. "Despite very trying market conditions, we are continuing to execute our business plan and acquire competing ISP’s” states Reed Sumida, President of PCNet International Inc. "The acquisition of these ISP’s are being completed using their own cash flow from rationalizations of networks and redundancies. This is good business for us. Even after payment to the vendor, PCNet International Inc. realizes not only significant earnings but considerable net cash flow from these acquisitions."

PCNet International Inc.
(formerly Porpoise Capital Network Inc.) ("PCNet") is pleased to announce that it has reached an agreement in principle, which contemplates the acquisition of the shares of Regare Corporation.("Regare"), a national voice and wireless communications reseller. The transaction contemplates that PCNet will acquire all of the shares of Regare in exchange for 5,136,000 common shares, one-half of which will be subject to voluntary escrow based on EBITDA performance measures. Regare Corporation is an Integrated Communications Provider delivering long distance, calling cards, toll-free calling, and cellular service. The Company has a fully operational world-class call center and billing system, responding to customer service issues and ordering queries, acting as a single point of contact. "This announcement today marks for PCNet International Inc. the continuation of our strategy to become a national integrated communications and entertainment provider," states Reed Sumida, President of PCNet International Inc. "The merger with Regare adds another element to our product suite of Internet access, cable TV and computer hardware and software products and will enable us to offer cellular, long distance, toll-free and calling card services to our existing Internet customers. Concurrently, Regare will be able to make available PCNet's International Inc.'s products and services to Regare's 25,000 customers. Before any cross marketing occurs, PCNet International Inc.'s will benefit from Regare's historical gross revenue performance in the $7,000,000 - $10,000,000 range annually.

PCNet International Inc.
("PCNet") is pleased to announce that it has reached an agreement in principle, which contemplates the acquisition of the shares of IMG Resource Services Inc.("IMG"). The transaction contemplates that PCNet will acquire all of the shares of IMG in exchange for securities. "This acquisition will compliment our other brands, Silk, Connexus and Internet Junction. With IMG, we have an established brand to introduce our other products to and we take on a capable management team who will continue to build on their past successes," states Reed Sumida, President of PCNet International Inc. Barb Hoolaeff, operations manager of IMG is excited about the acquisition. "IMG was initially started to offer the area the best that they could expect from an Internet Service Provider, this move allows us to continue on that same path in the bigger picture" stated Hoolaeff.

Pacific Coast Net Inc.
is pleased to announce that it has purchased Okanagan Internet Junction Inc. This merger coupled with Pacific Coast Net Inc.’s merger with Silk.net in June 2000, makes Pacific Coast Net Inc. and its affiliates the largest independent ISP in the interior of British Columbia, and solidifies Pacific Coast Net Inc.’s position as one of Canada’s largest and fastest growing Internet Service Providers. Okanagan Internet Junction has, with its recent acquisition of the customers of Grizzly Internet, over 3300 subscribers and provides Internet backbone services to several other Internet Service Providers. Ian McLaughlin, one of the principals who will be remaining with the newly merged company, has extensive experience in the development, installation, and maintenance of wireless solutions and will be assisting in the development of Pacific Coast Net Inc.’s wireless strategy. “Pacific Coast Net Inc. now has wireless installations throughout the Okanagan and the northern half of Vancouver Island,” exclaimed Reed Sumida, President of Pacific Coast Net Inc. “We intend to fast-track our wireless infrastructure build-out to include all of the markets we provide Internet access to. As our customers demand more innovative solutions to their connectivity requirements, we will continue to be able to meet their needs with a wider range of products and services than anyone in our industry." There is no change anticipated in Okanagan Internet Junction’s services to their customers. "As with our other mergers, the local company will continue to provide service and jobs in the community," states Sumida. "We believe that every community should have walk-in access to their Internet Service Provider.

PCNet International Inc.
("PCNet") is pleased to announce that it has executed an agreement for the acquisition of the Internet customers and related domain names of Optilink. The acquisition of the assets of Optilink is an arm’s length acquisition. "We seem to be an attractive partner to the smaller ISP’s" said Reed Sumida, President of PCNet International Inc. “This is the third acquisition of an ISP with 1500 or less customers that PCNet has completed within the last 30 days. I think that there is a recognition on the part of local ISP’s that the economic model may not be as favourable for them as it could be if they were to join forces with PCNet. Generally speaking, within 60 days of acquisition the vast majority of these operators are in a far better financial position with more unencumbered cash and significantly reduced liabilities. For many, this is an attractive proposition."

PCNet International Inc.
("PCNet") has terminated its agreement for acquisition of shares of Regare Corporation (“Regare”), and has acquired the operational assets of Regare pursuant to its contractual rights. In the second quarter 2001, PCNet’s wholly-owned subsidiary, Pacific Coast Net Inc. ("PCN"), entered into a services agreement (the "Services Agreement") with Regare whereby PCN became the primary provider of long-distance carrier services to Regare. Under the terms of the Services Agreement, PCN was to source and purchase long-distance time from primary carriers for use by Regare. Compensation to be earned by PCN was based on a service fee based on the profitability of these long-distance services. The Services Agreement also provided for PCN to assume operations of Regare in the event that Regare defaulted under the Services Agreement, and also granted a general security interest in all of the assets of Regare. This security interest was protected by a general security agreement granted by Regare to PCN. Regare Corporation has provided PCN with notification that it is unable to meet its financial obligations under the terms of the Services Agreement and is accordingly in default under the agreement. As a result and as per the terms of the agreements, PCN has acquired the operational assets of Regare in order to protect its financial interests in the project. In addition, under the terms of a general security agreement granted to PCN, PCN has been assigned assets under its GSA including trade receivables, cash and capital assets. As the incumbent carrier for the long-distance subscribers, PCN is fully servicing Regare’s existing customers and is actively seeking to renew relationships with subscriber groups. PCN has reached an agreement with twenty five Regare Corporation employees and management to join PCNet Voice Services, a wholly-owned subsidiary of PCNet, and provide the necessary customer service, billing, technical support, provisioning and sales activities necessary to maintain and grow the revenues from this operating segment. PCNet Voice Services estimates that 15,000 customers will be retained with projected annual sales ranging from $6,000,000 to $9,000,000. Associated with these revenues, PCNet Voice Services will experience a significant growth in current trade payables and receivables.

PCNet International Inc.
("PCNet") is pleased to announce that it has reached an agreement in principle, which contemplates the acquisition of the assets of Redshift Information Technology Inc. ("Redshift"). The transaction contemplates that PCNet will acquire all of the assets of Redshift in exchange for securities and cash consideration. "This acquisition is the first for PCNet International Inc. as a publicly traded company and we are looking forward to more transactions in the coming months," states Reed Sumida, President of PCNet International Inc. "As a private company, we were very fortunate to be able to experience rapid growth last year despite the distraction of listing. In our sector, there wasn’t another company public or private that acquired and grew at the pace of our organization. With our expanded management team and the listing process behind us, we are even more excited about our growth prospects for this year. Our focus now is directed solely towards mergers and acquisitions in the communications sector."

Pacific Coast Net Inc.
has reached an agreement with Silk Net Media Ltd., to merge the two companies. "This merger will enable Pacific Coast Net to introduce new broadband or high speed Internet access products like ADSL and a business cable product to Silk.net customers that simply are not available for them today" said Reed Sumida, President of Pacific Coast Net. "We want to bring more value to an already very strong product line offered by Silk.net." Both companies anticipate no job losses from the merger, as the existing Silk.net staff will continue to manage and operate Silk.net with local support staff. Silk.net will also take on some of the management of Connexus Communications, acquired by Pacific Coast Net in December, 1999. "It's business as usual" said Nick Frost, main owner of Silk FM Broadcasting Ltd. which is now a minority owner of Pacific Coast Net Inc. "This merger will be invisible to Silk.net customers except they'll have more products to choose from. Silk.net gets the best of both worlds through this merger, more products for its customers, and the buying power of a larger company. We anticipate significant growth will occur in Silk.net as a result of our merger with Pacific Coast Net."

PCNet International Inc.
("PCNet") is pleased to announce that it has executed an agreement for the acquisition of the assets of Stargate Portal Internet ("Stargate"). The transaction is scheduled to close prior to June 1, 2001. The acquisition of the assets of Stargate is an arm’s length acquisition. "Acquisition opportunities like this are available to us right now" states Reed Sumida, President of PCNet International Inc. "We will continue to search out more opportunities like Stargate as the economics after integration are very favourable for both the vendors and PCNet International Inc."

PCNet International Inc.
("PCNet") is pleased to announce that it has executed an agreement for the acquisition of substantially all of the assets of TCCI Rapidnet Inc. ("TCCI") that has approximately 1400 customers, and 2 affiliated ISP’s with over 700 customers. The transaction is scheduled to close prior to September 1, 2001. The acquisition of the assets of TCCI is an arm’s length acquisition. "We continue to consolidate the ISP market with this acquisition,” said Reed Sumida, President of PCNet International Inc. "As was the case with our previous 14 mergers, we will work hard to ensure that the customers of Rapidnet and Vanisle get the best value, service, variety and quality of product available in the marketplace."

PCNet International Inc.
("PCNet") is pleased to announce that it has executed an agreement for the acquisition of the assets of Workshopbc.com ("Workshopbc") an Internet service provider with approximately 450 customers. The transaction is scheduled to close prior to October 1, 2001. The acquisition of the assets of Workshopbc is an arm’s length acquisition.