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Microcap & Penny Stocks : SEDONA Corporation (SDNA)

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To: rustyjack who wrote ()	7/16/1999 10:53:00 AM
From: leigh aulper	Read Replies (1) of 731

SEDONA Sells Its TRC Unit and Signs Letter of Intent On the Sale of Tangent Imaging Systems LIMERICK, Pa.--(BUSINESS WIRE)--July 16, 1999-- SEDONA accelerates transition to internet/network-based E-business solutions and business intelligence software provider SEDONA Corporation (Nasdaq: SDNA) announced today that its transition to an e-business solutions and business intelligence software provider has been accelerated via the sale of the assets of its Technology Resource Centers (TRC) unit and the signing of a letter of intent relating to the sale of its Tangent Imaging Systems unit. Mr. Osterwise said that; "TRC assets have been acquired by Diversified Information Technologies, Inc. of Scranton, PA, and Tangent has entered into an acquisition agreement with a major international imaging and scanner manufacturing company, the identity of which will be released upon closing of this transaction in approximately sixty days." Mr. Osterwise added that; "We at SEDONA are very pleased that we have made such strong progress toward our goal of totally focusing all of our executive talent and financial resources in the direction of building and rapidly growing the e-business and business intelligence software aspects of the SEDONA Corporation. "This total focus of our resources on our family of SpatialVision software products and our recently announced SedonaLink software product, has indeed been accelerated by the timely sale of the TRC and Tangent units." Mr. Osterwise concluded by restating a comment made earlier, that; "We at SEDONA are very excited with the reception being given our software products in this rapidly emerging, fast growth industry." He continued; "I believe that we are positioned for growth in the e-business/business intelligence software market. Now that we have reduced our overhead and reduced our burn-rate, we can now totally focus all of our people and financial resources to grow this Company in a rapidly growing multi-billion market of opportunity."

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