DWLD news:
Wednesday May 17, 1:35 pm Eastern Time
Company Press Release
DataWorld Solutions, Inc. Comments Regarding 10-Q and Improved Corporate Structure
FARMINGDALE, N.Y.--(BUSINESS WIRE)--May 17, 2000--DataWorld Solutions Inc. (OTC BB: DWLD - news), manufacturer and distributor of electronic cable, accessories, and custom cable assemblies for data, voice and video communications systems, commented today regarding their recently filed 10-Q Quarterly statement.
``The current 10-Q filed this week with the SEC reflects that the Company's new corporate structure and marketing plan are working effectively. The Corporation recently changed its name from Vertex Computer Cable & Products Inc. to DataWorld Solutions, Inc. DataWorld Solutions became the
name of the former Vertex in May 1999 after DataWorld was merged into Vertex, approximately one year after Vertex emerged from its Chapter 11 reorganization.
The former Vertex at one time had been doing approximately $50M in revenues but had subsequently experienced numerous losses that forced the Chapter 11 filing. Since the merger DataWorld has renewed customer relationships, expanded product offerings, and brought the company to operational profitability.
The 10-Q reported nine months revenues in excess of $9.5M with a significant increase in quarterly profitability.
DataWorld has clearly established itself in a strong position in the fiber-optic interconnect market,''
said DataWorld Solutions Chairman and CEO Daniel McPhee. ``The Company is experiencing a significant growth rate and yet we feel this is only the beginning of an aggressive move to increase our market share. This latest report represents a ''turnaround quarter`` for the company and as such, shall
fulfill certain conditions placed upon pending transactions the Company has been negotiating., the details of which will be announced shortly. With current market conditions, broadbased Internet buildout, and our product line-up we confidently feel DataWorld is in the right sector at the right time.''
Except for historical matter, the matters in this press release are forward-looking statements and are
made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
The forward-looking statements reflect assumptions, and involve risks and uncertainties, which might
affect the Company's business and prospects and cause actual results to differ materially from these
forward-looking statements, which are detailed in the Company's public filings with the SEC.
Contact:
DataWorld Solutions, Inc.,
Investor relations
888/369-9976
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