ANTs software.com Comments On Recent Media and Internet Negative Publicity
SANTA BARBARA, Calif.--(BUSINESS WIRE)--Dec. 30, 1999--Donald R. Hutton, chairman of ANTs software.com (OTCBB:ANTS - news) today commented on recent media and Internet negative publicity with respect to ANTs.
Regarding the report of an interview with Hutton filed on Dec. 29 under the byline of a leading business news service, and widely misinterpreted as being a company news release, Hutton said: ``To call this yellow journalism is too mild. We intend to take appropriate action to obtain a correction of this extraordinary piece of twisted reporting.
``My comments were misrepresented and taken out of context, and other material was reshaped and inserted, all with the obvious objective of provoking readers to sensational, attention-getting, and grossly erroneous conclusions.'
Hutton pointed out: ``Some of the most inflammatory comments in the article were based on information in SB-10s and SBQs filed by ANTs in September and December of 1999 with regulatory authorities. All reporting companies have to file such documents on a quarterly basis as part of the policy of full disclosure demanded by the SEC and other regulatory bodies.
``It is company practice to voluntarily publicize these reports on its Web site to make it as easy as possible for interested parties to obtain and assess this information.'
Hutton said: ``The company's regulatory filings have resulted in no negative comments, nor any actions or investigations by any of the relevant authorities that could be interpreted as a forerunner to some unpleasant discovery regarding ANTs. On the contrary, all of our discussions with regulators have been completely correct and amicable in the best professional sense.
``It is quite clear that wording employed in the news service article and other recent negative sources has been intended to make it look as though we are just one step ahead of the law and/or bankruptcy. Such implications are utterly and totally outlandish.'
Hutton said: ``It is the company's policy to publish news which is material when we are confident that our assessment of the facts, good or bad, is well founded. We strongly recommend that those with legitimate interest in ANTs look closely at information about our company, including our recent press releases, at www.ANTssoftware.com, the ANTs' Web site.
``There is no reason at this time for us to add to or subtract from this substantial information about our markets and technology, nor from our prior press releases, both of which broadly outline our near term operational objectives and longer term strategies.'
In conclusion, Hutton said: ``ANTs carries out extensive background checks on all potential staff members prior to employment, as well as its consultants. Thereafter, any negative reports, public or private, are the immediate subject of detailed re-examination, as in one instance provoked by recent events.
``The company wishes to unequivocally state that, based on available information, every staff member and advisor to ANTs enjoys the company's utmost confidence as to personal integrity and suitability for the responsibilities with which each has been entrusted.'
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. |
