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Non-Tech : NexTrend Analysis Software

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To: hypostomus who started this subject	11/5/2002 3:56:46 PM
From: Carole Olkowski	Read Replies (1) of 192

NexTrend files for bankruptcy Richardson-based NexTrend Inc. and NexTrend Technologies Inc. said they have voluntarily filed for Chapter 11 bankruptcy protection. The companies, which provide direct access trading and financial market decision support technologies, said the filing will allow them to continue to conduct business while it develops a reorganization plan. NexTrend's licensed broker/dealer subsidiary, NexTrend Trading Inc., is not included in the bankruptcy proceedings. "This Chapter 11 filing will enable NexTrend to continue to deliver uninterrupted services to our customers, maintain our day to day operations and create the greatest possible value for our creditors and shareholders," Mark Cherlin, president and CEO of NexTrend, said in a statement. "We believe that the long-term success of our company is best served through a strategic alliance, merger or sale and have hired the investment banking firm of GEM Advisors to assist with this process."

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