California Software Announces Two-For-One Stock Split
Also Intends to Apply for Listing On The AMEX
SANTA ANA, Calif.--(BUSINESS WIRE)--Feb. 23, 2000--California Software Corp. (OTC BB:CAWC - news), a leader in IBM migration products and developer of the award-winning BABY(TM) product line, today announced a two-for-one split of the Company's common stock and its intention to file for listing on the American Stock Exchange (AMEX®).
Shareholders on record as of March 15, 2000 will receive the 2-for-1 stock split. The ex-dividend date is March 22, 2000. California Software also announced it will apply for listing on AMEX within the next 30 to 40 days. ''By issuing a 2-for-1 stock split, we will meet the share requirements to apply for an AMEX listing. An AMEX listing will further enhance our national exposure, which has gained momentum through recent investor relations activity and the significant success of our BABY brand product line,'' stated Bruce Acacio, Chief Executive Officer of California Software Corporation.
California Software is completing a private placement that will provide the assets necessary to complete the requirements for listing on AMEX. With the additional capital raised, the Company will accelerate its aggressive acquisition strategy. Anthony Mello, Chief Executive Officer of NevWest Securities, stated, ''The considerable interest and outstanding value in the private placement allows us to anticipate finalizing the offering this quarter.''
''California Software plans to move to AMEX to achieve its potential as a solid growth technology stock. We expect annual revenue will continue its dramatic growth trend and should increase again by approximately 200% year-over-year. We also anticipate profits to exceed competitors such as Jacada (NASDAQ: JCDA - news),'' commented Kate Tague, Marketing and Communications for California Software Corp.
Tague continued, ''California Software's market capitalization is poised to increase substantially, which will position the Company more in line with its true value.''
California Software Corp. is the international leading provider of IBM Midrange migration software solutions marketed under the brand name BABY. These products support the migration IBM AS/400 screens and applications into PC-LAN business environment and enjoy over 100,000 installations in 56 countries.
Forward-looking statements in this release are made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Contact:
California Software
Kate Tague, 949/553-8900
ktague@calsw.com
www.californiasoftware.com
or
OTC Financial Network
Robert Weiss, 781/444-6100 ext. 11
rick@otcfn.com
biz.yahoo.com
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