I never owned SYSF, found this on the BW: NATICK, Mass.--(BUSINESS WIRE)--March 24,
1999--SystemSoft Corporation (OTC:SYSF) today will file for protection
under Chapter 11 of the U.S. Bankruptcy Code. The company will
attempt to sell off its technology assets to interested parties for the benefit
of creditors and shareholders. The company intends to operate at reduced
staff levels to fulfill obligations under contracts to existing customers until
assets of the business are sold.
Any statements that are not historical facts contained in this release,
including statements regarding management's goals and objectives, the
Company's future strategy, prospective strategic alliances, the proposed
settlement of the securities class action, and management's operating plans
are forward looking statements. Those statements are subject to a number
of risks and uncertainties that could cause actual results to differ materially
from those anticipated, including but not limited to those relating to the
Company's cash liquidity and lack of working capital, market acceptance
of the Company's products, competition, lack of cooperation and support
from current customers, vendors and commercial bankers, the failure to
obtain final court approval of the pending securities class actions, and
other risks identified in the Company's Securities and Exchange
Commission filings.
For further information contact: Terri Bonee, SystemSoft Corporation
at (508) 651-0088. |
