Charlie - ITS ALIVE for a while anyways.
Friday February 12, 4:03 pm Eastern Time
Company Press Release
Plaintree Systems Announces Continued Operations
OTTAWA, ONTARIO--Strict cost controls and ongoing business opportunities sustain operations for the short term while company continues to seek equity partner.
Plaintree Systems Inc. (NASDAQ: LANPF/ TSE: LAN) announced today that the company is undertaking some custom design work, which, together with vigorous cost controls and ongoing sales, will permit the company to continue operations over the short term. P laintree's cash position remains precarious, however, and the company is continuing to seek an equity investor or strategic partner to assure the ongoing viability of the company.
A publicly held company founded in 1988, Ottawa-based Plaintree Systems develops and sells LAN switching solutions, maintaining a reputation for high quality products and technical support.
This press release includes statements that are forward looking and based on current expectations. The actual results of the Company may differ materially from current expectations. The business of the Company is subject to many risks and uncertainties , including changes in markets for the Company's products, delays in product development and introduction to manufacturing and intense competition. For a more detailed discussion of the risks and uncertainties related to the Company's business, please r efer to documents filed by the Company with the SEC and Canadian regulatory authorities, including the Company's prospectus dated May 20, 1997.
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