Dstage and Quintek Execute LOI for Digital Data Storage in Asia
DENVER, Jan 8, 2002 /PRNewswire via COMTEX/ -- Dstage.com, Inc. (OTC Bulletin Board: DSTG), pioneers of a new approach to venture formation, today announced a letter of intent with Quintek Technologies, Inc. (OTC Bulletin Board: QTEK). Under the terms of the letter of intent, Dstage plans to transfer substantially all of its interest as a lessee in a Davao City, Philippines manufacturing complex in exchange for an interest in Quintek's new Asian operation to be headquartered there.
"Davao City is strategically located as a gateway to South East Asian Nations and the Asian Pacific region. In addition, its world-class telecommunications infrastructure and skilled workforce make it an ideal base for Asian operations. Properly structuring the transaction contemplated should allow Quintek to enter these markets without a large cash outlay," according to Quintek President Tom Sims.
"We look forward to structuring a definitive agreement that will help Quintek accelerate its entry into this important region. Our focus since the beginning has been on securing resources that allow promising ventures to more aggressively pursue their markets, while substantially reducing their cash requirements. Our intent to pursue this deal with Quintek is representative of this approach," according to Dstage CEO Frank Maresca.
About Quintek:
Quintek supplies chemical-free equipment, software, media, and services used to preserve digital data and insure against information loss due to catastrophic events, computer virus, technology obsolescence, equipment failure, media degradation, change in formatting standards, and software incompatibility.
Quintek's strategic alliances include: Kitron, Saab, Eastman Kodak, Anacomp, and Imation. Customers include: TRW, Lockheed-Martin, US Navy, Aramco, Dresser Industries, Smiths Industries, Carolina Power & Light, Baltimore Gas & Electric, Lufkin Industries, Whirlpool, Zenith, PG&E, GTE Airfone, Caltrans, NASA, and Southern California Edison, among others. With an environmentally superior solution, Quintek has a significant competitive advantage in a worldwide market estimated at $2.5 billion per year.
About Dstage:
Dstage.com, Inc. was formed in October of 1999 to pursue a new approach to venture formation and development. The Dstage model attempts to substantially reduce burdensome cash requirements from the earliest stages of venture creation and replace it with proven knowledge, expertise, technology and other forms of "securitized" intellectual capital. To learn more about the Dstage approach to venture formation and intellectual capital securitization, please contact our Investor Relations Center at 909-471-2898 or email your request to IR@dstage.com. For general information about the company, please visit the Company's Investor Relations Center at WWW.DSTAGE.COM .
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