Tuesday February 15, 8:00 am Eastern Time
Company Press Release
SOURCE: MSU Corporation
MSU Corporation Releases its Form 10Q with The Securities and Exchange Commission
MILTON KEYES, England, Feb. 15 /PRNewswire/ -- MSU Corporation (OTC Bulletin Board: MUCP - news), a designer and developer of computer chips and chipsets principally for use in high-volume consumer electronic products, including its low-cost Web-to-TV system, Web2u, reported the release of its Form 10Q today with the Securities and Exchange Commission.
The release covers the period from October to December of last year which saw significant change at the company. A major re-alignment of management occurred during November, with the installation of Darran H. Evans as CEO. Since this appointment, the leadership structure of the organization has been strengthened in order to transition MSU properly towards a sales, marketing and production focus. During the period, production of the Web2u flagship product, a television set top box providing Internet access, was commenced in China. Additionally, sales and marketing contract discussions were commenced (since completed) in the UK and India while partnership agreements were concluded in the Americas.
With regard to the quarter reported on, Jeremy Simpson, Chairman, stated: ''I believe that the changes engendered during the latter quarter of 1999 were very positive and places the company in a much improved position to meet the challenge of this year. The Board is excited by the prospects in markets in Western Europe and the Americas and particularly enthusiastic about the opportunities to complete similar deals to that entered into with Jadoo.net in India. I believe that 2000 will be the year when MSU properly begins to fulfill its obvious potential.''
Certain information included herein and on other Company statements, reports and SEC filings is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning anticipated operating results, financial resources, marketing, growth and expansion. Such forward-looking information involve important risks and uncertainties that could significantly affect actual results and cause them to differ materially from expectations expressed herein and in other company statements, reports and SEC filings.
SOURCE: MSU Corporation
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