Here's the two latest news releases.
Tuesday September 14, 2:41 pm Eastern Time
Company Press Release
Donald R. Hutton, Chairman, Announces Appointment of Frederick D. Pettit as President and Chief Executive Officer
SANTA BARBARA, Calif.--(BUSINESS WIRE)--Sept. 14, 1999--Donald R. Hutton, chairman of ANTs SOFTWARE.COM (OTC BB:ANTS) Tuesday announced the appointment of Frederick D. Pettit as president and chief executive officer.
Hutton said, ''Fred Pettit brings to the company extensive senior experience in business and technology management, and innovation, at Citicorp, First Boston, Chemical/Chase Manhattan, and as a CEO and consultant in the high technology, emerging growth company sector.
''ANTs is preparing for commercial take-off and Fred is the experienced pilot we believe we need to get us rapidly and safely up and away.''
Pettit was attracted to ANTs while acting as a consultant to the company for its strategic and operational planning. Pettit said, ''ANTs is best described as one of those new Internet leveraging creatures known as an ASP -- Application Service Provider.
''The company has patented technology that can be readily interfaced with virtually any software to radically reduce the time required to process accounting-based activities -- along with lots of other key benefits.
''ANTs plans to use its technologies to make winners out of large-scale users, computer consultants, systems developers and server farm operators,'' Pettit said, adding that, ''ANTs also plans to keep an attractive slice of the substantial savings expected to be generated by ANTs' extraordinary attributes.''
ANTs is confident that its software can deliver the following advantages to users:
-- security no possibility of misappropriation of data
-- reliability 5 9s performance; 24 x 7 x 365
-- disaster recovery total assurance, virtually instantaneous
-- information
accessibility far superior to in-house alternatives
-- hardware
obsolescence no hardware/no risk
-- capacity no peak-load problems/no management needs
-- load-balancing not an issue
-- redundancy ample, inexpensive and totally effective
-- capital investment no server/main frame ownership
-- premises no premises needs for servers/mainframes
-- staffing no staffing for server/mainframe management
ANTs Tuesday filed an SB-10 form with the Securities and Exchange Commission requesting permission to become a fully-reporting company. The company also announced plans to move its headquarters from Santa Barbara to the Silicon Valley area in early 2000.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the ''Act''). In particular, when used in the preceding discussion, the words ''plan,'' ''confident that,'' ''believe,'' ''expect,'' ''intend to,'' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties, and actual results could differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings, and other risks.
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Tuesday September 21, 10:14 am Eastern Time
Company Press Release
Frederick D. Pettit, ANTs SOFTWARE.COM CEO, Announces Appointments of Dean Witter III and John L. Crary
SANTA BARBARA, Calif.--(BUSINESS WIRE)--Sept. 21, 1999--Frederick D. Pettit, recently appointed chief executive officer of ANTs SOFTWARE.COM (OTC BB:ANTSE - news), Tuesday announced two further appointments to the company's human resource base.
Dean Witter III, currently chief financial officer of Hello Direct and former treasurer of Amdahl Computer Corp., will join the company's Advisory Board, which is chaired by Dr. Peter Patton, chief technology officer of Lawson Software, a leading systems development company.
Pettit said: ''Dean and I have been partners in the past, allowing me to become well acquainted with the exceptional talent and relevant experience he is now bringing to ANTs. He will be close at hand as an active member of our Advisory Board.''
John L. Crary is joining ANTs as chief of staff. Crary is currently president of Juniper Capital LLC and chairman of the Lassen Companies Inc. His previous experience includes 10 years in corporate finance at E.F. Hutton where he was involved in IPOs, secondary offerings and M&A work with varying clients including prominent information technology companies.
Pettit said: ''John's background both at Hutton and as an entrepreneur/venture capitalist suits our current state of development to a tee. I have known John for about a decade and have the greatest respect for his energy and business savvy.''
Witter is a magna cum laude graduate of Harvard with a master of business administration degree from the Stanford University Graduate School of Business. Crary is an honors graduate from the University of California, Irvine, and has a master of business administration degree from the Columbia University Graduate School of Business. Both men have extensive business experience at the board level including other current appointments.
ANTs is focused on the rapidly growing opportunity to make CPU intensive applications radically cheaper, better, faster and totally reliable through improved use of the Internet. The company believes that its proprietary technologies have overcome present limitations on distributability and scalability, problems that have bedeviled the industry from the outset.
The company's technologies, though simple and elegant, are able to be interfaced with all leading technology platforms, and are expected to offer hitherto unimagined means to optimize network distribution, scale to more powerful hardware, and process transaction volumes more efficiently and reliably.
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