PhoneFree.com acquires Callrewards

   *  Amount:         Undisclosed

   *  Terms:            n/a

   *  Premium:        n/a

   *  Industry:        Advertising/Marketing

   *  Scorecard:      C+

NEW YORK, Sept. 12--PhoneFree.com, a provider of free global multimedia Web communications, announced that the Company has acquired Callrewards.com, an online rewards and loyalty program in the Internet Telephony category and a portfolio company of eVentures Group. The acquisition of Callrewards will allow PhoneFree.com to further develop their business plan to take advantage of the convergence between telecommunications, the Internet and loyalty-based direct marketing industries. Financial terms were not disclosed.

 

 Diversified Technologies Group (DTGI) to acquire CareNet

   *  Amount:         Undisclosed

   *  Terms:            n/a

   *  Premium:        n/a

   *  Industry:        Internet services

   *  Scorecard:      C

DALLAS, Sept. 12--Diversified Technologies Group announced that it has signed a letter of intent to acquire CareNet by forming a new subsidiary which will allow for physicians, patients, insurance carriers and other healthcare-related organizations to participate in the growing e-healthcare field utilizing the Internet as a common platform. Diversified Technologies Group and CareNet together intend on offering the first "care" oriented e-healthcare business initiative offering real benefits to the physician and patient. Terms of the transaction were not disclosed.

 

 Go Online Networks (GONT) acquires Net Strat

   *  Amount:         Undisclosed

   *  Terms:            n/a

   *  Premium:        n/a

   *  Industry:        Content/Communities

   *  Scorecard:      D

BUENA PARK, Calif., Sept. 12--Go Online Networks announced they have reached an agreement to acquire 100% of the outstanding stock of Net Strat, based in Albuquerque, New Mexico. Net Strat is a development stage Internet Strategies firm, with substantial cash assets, which will position Go Online Networks to pursue other acquisition targets. Terms of the transaction were not disclosed.

 

 MoneyZone.com (MNZN) to acquire Ostrander Burch & Co.

   *  Amount:         $7.7 million

   *  Terms:            n/a

   *  Premium:        n/a

   *  Industry:        Financial services

   *  Scorecard:      C+

CHARLOTTE, N.C., Sept. 12--MoneyZone.com announced that it has entered into a letter of intent to acquire Ostrander Burch & Co., a regional investment bank headquartered in Raleigh, North Carolina. The acquisition will also include Carolina Securities, an NASD broker dealer, CrossBridge Capital Partners, a merchant banking fund, and a 50% interest in eCapX.com, an online exchange and ECN for the commercial lending industry. Ostrander Burch & Co. will be merged into MoneyZone.com, while Carolina Securities and CrossBridge Capital will be operated as wholly owned subsidiaries of the parent company. The transaction is valued at $7.7 million.

 

 WealthHound.com to merge with WAP, Inc.

   *  Amount:         Undisclosed

   *  Terms:            n/a

   *  Premium:        n/a

   *  Industry:        Financial services

   *  Scorecard:      n/a

NEW YORK, Sept. 12--WealthHound.com, a personal financial services site, announced that its wholly-owned subsidiary, WealthHound Securities, has entered into a merger agreement with WAP, Inc., an authorized and registered broker-dealer and a member of the National Association of Securities Dealers, Inc. ("NASD") and the Securities Investment Protection Corp. ("SIPC"). The acquisition of WAP, Inc. will allow WealthHound to offer its customers securities trading services through its own wholly-owned broker-dealer subsidiary. Terms of the transaction were not disclosed.