NEWS - QSTI - February 12, 2001 11:55
QuesTec Finalizes Re-Organization
DEER PARK, N.Y.--(BUSINESS WIRE)--Feb. 12, 2001--QuesTec, Inc. ("QuesTec"), (OTCBB Stock Symbol: QSTI), announced that the Company's Board of Directors met during the weekend of February 10th, to continue discussions regarding the company's current status and future plans. In accordance with the business strategies and principles set forth during their last meeting, the Board approved the following:
Derek Donaldson has accepted the position as President of QuesTec. Mr. Donaldson has been an active member of the Company's Board of Directors for the past 10 years. During that time Mr. Donaldson was active with the company during major sports productions and has supervised sporting events for baseball and international events for both tennis and golf.
Phil Albanese has accepted the position as Managing Director of QuesTec. Mr. Albanese has taken an active role in marketing and business development for the company.
Bruce Nesenger has accepted the position as Corporate Secretary of QuesTec. Mr. Nesenger has taken an active role in the day-to-day operations of the company.
"We have put together a strong and dynamic management team for QuesTec, the strength and experience of these gentlemen will allow us to exploit the true potential and marketability of QuesTec's technology, " said Steven B. Greenfield, Esq., Chairman of the Board for QuesTec. "As a group, we have managed to define clear and achievable goals and objectives for the company. As I stated earlier, this is an opportune time for QuesTec, and we will explore every avenue that can help us achieve success."
QuesTec founder, Edward J. Plumacher, stated: "There is a real synergy and chemistry among this new management group. Their individual talents and proven record of success are well noted. As a team they represent a viable force, whose commitment and dedication will establish true value for QuesTec and it's shareholders."
QuesTec is a content-oriented company that provides real-time measurement, replay and analysis products for sports, entertainment and digital media. The company develops real-time virtual replays and eSports technology for mainstream professional sports. QuesTec's technology offers unique content to the convergence of today's emerging digital media.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. The statements contained in this release which are not historical facts, including our outlook on the future performance of our core businesses and our growth strategies, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial markets, dependence on existing markets and other risks described in the Company's Securities and Exchange Commission filings.
Investor Relations Contact: QuesTec (631) 243-1880 or invest@questec.com
For more information on eReplays(TM), please visit www.ereplays.com.
Press releases and other QuesTec information are available on the QuesTec web site: questec.com
CONTACT: QuesTec, Inc., Deer Park
Ron Klimkowski, 631/243-1880 |
