BtoB
This may be the reason for the run-up this week:
Friday January 7, 5:59 am Eastern Time
Company Press Release
Citadel Technology Announces Name Change to CT
Holdings and Applies for Nasdaq SmallCap Market
Listing
Name Change Reflects Transition into Business-to-Business (B2B) Company Incubator: Follows Launch of How2.com
DALLAS--(BUSINESS WIRE)--Jan. 7, 2000-- Citadel Technology, Inc. (OTCBB: CITN - news) announced today that it has changed its name to CT Holdings, Inc., which better reflects the increasing importance of its business activities as an
incubator of business-to-business (B2B) Internet companies. CT Holdings began its Internet activities in 1999 with the formation of How2.com, a provider of online post sale customer care solutions, including rebate services, extended warranties and themed e-commerce. CT Holdings also announced that it has applied for a listing on the Nasdaq SmallCap Market.
CT Holdings will provide early stage business-to-business ``dot com' ventures with a single source of financial and management capital, as well as consulting on operations, marketing and strategic planning, that will enable these start-up companies to establish a clear path for growth so that they may become online market leaders.
``The visionary leaders and business-to-business companies we will invest in and help to develop will be those that create Web applications in the e-business enabling solutions segment across a spectrum of industries, build market leadership and enhance shareholder value in the process,' said Steven B. Solomon, Chief Executive Officer of CT Holdings. ``Expanding our focus from our security software business into a B2B incubator model will put us at the center of one of the most exciting developments in the new economy.'
How2.com was launched as a subsidiary of Citadel in early 1999 and is a provider of outsourced online post sale customer care solutions--managing rebate, warranty and other branded sales opportunities for a number of businesses.
About CT Holdings, Inc. - CT Holdings is an incubator for early stage B2B companies and a developer and marketer of
Citadel Technology computer software products. How2.com is a subsidiary of CT Holdings.
For more information on Citadel Technology products, visit the Company's homepage at citadel.com. For information on purchasing products, contact the Company directly by writing or calling: CT Holdings, Inc., 3811 Turtle Creek Blvd., Suite 770, Dallas, Texas 75219; phone 214.521.3443; fax 214.520.0034. For media or investor relations contact: The Investor Relations Group at 212/736-2650.
Forward-Looking Statements: This news release contains forward-looking statements, which involve risks and uncertainties. Accordingly, no assurance can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statement. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company. These factors include the Company's and its subsidiary's success in integrating the business and operations of acquired companies; no assurances of
completion of an initial public offering based on regulatory reviews, market conditions and other factors; uncertainty relating to Nasdaq SmallCap Market listing; implementation of Internet strategies; availability of suitable incubator companies; possible application of the Investment Company Act of 1940; the activities of new or existing competitors; the ability to attract and retain employees and strategic partners; adoption of the Internet as a medium of commerce, communications and education; application of state unclaimed property or escheat laws; transition of selling and distribution methods, the availability of capital on terms acceptable to the Company; general economic conditions; the market for the network software products; software
development costs and litigation costs. Investors are also directed to consider other risks and uncertainties discussed in documents filed by the Company with the Securities and Exchange Commission.
The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact:
CT Holdings, Inc., Dallas
Steven B. Solomon, CEO
Tel: 214/521-3443
or
The Investor Relations Group Inc., New York
Richard Land & Dian Griesel
Tel: 212/736-2650
Sure hope it's not a "sell-on-the-news day!"
Good luck, all!
-pam |
