Intelligent Motor Cars Group Announces Acquisition, Name Change and Management Changes
FORT LAUDERDALE, Fla.--Feb. 21, 2003--Intelligent Motor Cars Group, Inc. (formerly Harrison Holding's, Inc. (OTCBB:HRSN)) announces that it has acquired all of the outstanding shares of Intelligent Motor Cars, Inc., a Florida corporation, which will continue its operations as a wholly-owned subsidiary. The Company's name was changed to Intelligent Motor Cars Group, Inc. to reflect its new operations. The Company's new trading symbol is IMCG (OTCBB:IMCG) and its stock closed on Wednesday, February 19, 2003 at $2.90 per share.As a result of the acquisition of IMC, members of the IMC management team were appointed as the new officers and directors of the Company. Jerry Scalzo is the new President and Chief Executive Officer and Michael Magolnick is the new Executive Vice President and Chief Operating Officer of IMCG.
The Company d/b/a "Sun Auto Sales" ("IMC") offers a diversified suite of services to the automotive market, including wholesale and retail used vehicle sales, reconditioning, financing and insurance, as well as dealer-to-dealer financing, also known as "floor-planning." IMC also provides services for new car sales such as search, acquisition, and delivery on a limited basis. In addition, it operates an online specialty auto retail shop on eBay. IMC generated revenue of $9.4 million in 2001 and $19.3 million in 2002.