PRESS RELEASE TODAY!!!! More to come!!!
SAN LUIS OBISPO, Calif., Aug. 12 /PRNewswire/ -- Dega Technology, Inc.(OTC Bulletin Board: DEGA) today reported that an out-of-court settlement hasbeen reached with Spectre Industries, Inc. (OTC Bulletin Board: STND). Degahas paid the agreed sum of $160,000 for interest and the $150,000 promissorynote surreptitiously acquired by Spectre in May of this year. Dega's Chairman of the Board Robert R. Susnar stated "The merit of Dega'slegal position and our actions has been upheld. You will recall that Spectrewas attempting to circumvent the shareholder's decision not to merge. Thiscircumvention was in the form of an attempted seizure of Dega's intellectualproperty through scurrilous means. It was always Dega's intention to pay thisnote, and now this settlement allows Dega to remain focused on the productdevelopment and launch of DegaSource." Dega is the developer of DegaSource, a unique cataloguing and e-commercesearch engine for parts identification and procurement. In addition,DegaSource will integrate with back office systems for real-time parts availability from suppliers and encourage business-to-business commerce throughout the supply chain. Dega is dedicated to creating innovative supply chain solutions for the$172 Billion automotive aftermarket and then proceeding to other partsintensive and data reliant industries.SOURCE Dega Technology, Inc. -0- 08/12/99 /CONTACT: Dawn Legg, VP-Corporate Relations of Dega Technology, Inc.,805-546-0444, ext. 161/ /Web site: dega.com (DEGA STND)CO: Dega Technology, Inc.; Spectre Industries, Inc.ST: CaliforniaIN: AUT FIN CPRSU: LAWGW-PQ -- LATH006 --7214 08/12/99 07:00 EDT prnewswire.com |
