This should add to the bottom line on ongoing basis:
Tuesday May 25, 1:05 pm Eastern Time
Company Press Release
SOURCE: Veronex Technologies, Inc.
Veronex Announces Entry Into E-Commerce
IRVINE, Calif., May 25 /PRNewswire/ -- The Board of Directors of Veronex Technologies, Inc.
(''VERONEX'') (OTC Bulletin Board: VXTK - news) today announced that the I|Nova System has been selected to develop and deploy an online Electronic Commerce Service Network (the ''E-Commerce System'') in the Asian-Pacific Region.
Veronex has entered into a Strategic Alliance Agreement with East-West Electronic Commerce and Trade Center, Ltd. to develop the E-Commerce System for a consortium of approximately 6,000 banks and their branches in the Asia-Pacific Region. The banks are located throughout more than 30 countries and collectively have in excess of 10,000,000 enterprises as customers. The terms of the Agreement call for a $2,000,000 license fee plus a $3,000,000 development fee for the
E-Commerce System. Additionally, Veronex will share in a portion of the transaction fee generated by the E-Commerce System.
''The I|Nova System was selected because it is the best application development and deployment system to permit the consortium of banks to conduct electronic commerce online, over the Internet,''commented Thomas Price, President of Veronex. ''The diverse nature of the languages and geographic locations of these 30+ different countries requires a flexible software which can respond to the changing business conditions and business rules of the various countries. The I|Nova System offers this capability coupled with the ability for Internet enabled application deployment necessary
to facilitate e-commerce.''
Mr. Price went on to state, ''VERONEX's I|Nova System, with its template driven development process allows it to create solutions which are 'virtual' and allow the simple creation of professional,
high quality, customized applications regardless of enterprise size, purpose or location. Further,I|Nova offers the most advanced software technology capable of meeting the technological challenges of the Internet and the 21st Century.'' (more) |
