Latest news release from Veronex....
Veronex Announces New Strategic Alliance Agreement with Luoma Energy Services, Corp.
IRVINE, Calif., April 20 /PRNewswire/ -- The Board of Directors of Veronex Technologies, Inc. (''VERONEX'') (OTC Bulletin Board: VXTK - news) today announced that it has signed a Strategic Alliance Agreement (the ''AGREEMENT'') with Luoma Energy Services, Corp. (''LUOMA''), a private company headquartered in Las Vegas, Nevada to license the use of VERONEX's I|Nova System.
''The strategic relationship with LUOMA offers VERONEX the opportunity to introduce its I|Nova System, with its very rapid Y2k solution capabilities into the national energy distribution market,'' stated Thomas Price, President of Veronex. ''The I|Nova System not only offers an automated Y2k solution, but it also offers the option of re-engineering applications where the original source code can not be located, which is a critical need in the energy distribution industry as it approaches the later stages of Year 2000 repairs of mission critical applications.''
''Luoma Energy Services was formed for the express purpose of introducing best of breed enterprise solution services to the electric and gas utility industry. LUOMA selected the I|Nova System because it believes the I|Nova System is the best methodology and development system for solving problems such as the Y2k problem in the source code of outdated legacy application software,'' commented John Luoma, Chairman and CEO. ''I am pleased to add VERONEX's I|Nova System, with its 'complete system' approach to solving the Y2k problem to our menu of services.''
Mr. Luoma went on to state, ''The electric utility distribution system is a dynamic flywheel, which once tripped or interrupted will create power outages disrupting business for customers. It is imperative for utility systems that control electric power distribution to be Y2k compliant to prevent any such disruption in electric service which could be catastrophic. We believe that I|Nova offers LUOMA's clients an opportunity not only to repair the Y2k problem, but also to re-engineer existing applications and up-grade their software applications to the next generation of software.''
Veronex Technologies, Inc. (''Veronex'')(OTC Bulletin Board: VXTK - news) designs, develops, licenses and supports computer software products for complete enterprise wide management application development and implementation for competitive, innovative and flexible business solutions. The Company's I|Nova System is a fully integrated business application development, modernization and migration tool-set which has been ITAA *2000 Certified. The I|Nova System includes the proprietary DataCentric Analyzer which is an automated Y2k solution tool. Veronex is awaiting patent approval for the DataCentric Analyzer.
VERONEX developed the I|Nova System as a software tool-set for modernizing, migrating and developing mainframe applications. The I|Nova System is a new concept for application development, deployment and management that enables software developers and maintenance staff to save time and optimize quality through effective reuse of common functions. This reuse is achieved with a library of functional modules and a run-time system. I|Nova's unique technology is code-less, self-documenting, portable and cost effective. |
