While I do not own this stock, I am looking forward to reviewing the Form 10-K. It should answer a lot of questions. Here are the links for the Form 10-K and the associated press release:
sec.gov
biz.yahoo.com
Tuesday June 1, 11:53 am Eastern Time
Company Press Release
WordCruncher Internet Technologies, Inc. Files Form S-1 Registration
Statement
SALT LAKE CITY--(BUSINESS WIRE)--June 1, 1999--WordCruncher Internet Technologies, Inc. (OTC BB:WCTI - news), announced today that it has filed a Form S-1 Registration Statement with the U.S. Securities and Exchange Commission.
The filing covers 2,693,137 shares of WCTI common stock which have been issued by the company to certain of its shareholders or will be issued pursuant to the conversion of the companies Series A Preferred Stock. The filing will be available for public review on the EDGAR filing system within the next few days. Kenneth W. Bell, Senior Vice President and Chief Financial Officer, made the following statement concerning the filing:
''It has been our stated goal to advance WCTI to the level of a fully reporting company by mid-year 1999. This filing represents the first step in achieving that goal and, once effective, helps pave the way for the accomplishment of our further goal of a NASDAQ National Market listing during the summer of 1999. We expect to submit the NASDAQ application within the next couple of weeks.''
Bell continued, ''This filing provides an excellent venue through which WCTI can provide information to our investors and prospective investors, and also satisfies a requirement which was placed upon us by our preferred shareholders in connection with our Series A Preferred Offering earlier this year.''
Bell confirmed that, as part of the registration process, the Series A Preferred Offering was completed at $6.3 million. He explained that, ''The capital raised through this offering is of tremendous value to WCTI. We believe that it will enable us to complete the development and initiate the implementation of our portal site for business professional users which is scheduled for delivery during the fourth quarter of this year.''
About WordCruncher Internet Technologies, Inc.
Headquartered in Salt Lake City, WordCruncher Internet Technologies,
Inc. is an Internet information provider for business professionals.
Using its proprietary Spyhop service, WCTI combines powerful search
capabilities with a focused business directory and salient content and
useful services. For more information about WCTI, visit
wordcruncher.com.
This release contains forward-looking statements, as defined in Section
21E of the Securities and Exchange Act of 1934, and includes WCTI's
belief, expectations or intentions regarding its future operations and
financial condition. All forward-looking statements included in this
release are based on current expectations that involve risks and
uncertainties, which might cause the actual results to differ materially
from those projected in any forward-looking statements. Factors
affecting results include the timely development and implementation of
technologies and services, the market awareness and acceptance of these
technologies and services, competitive factors and pricing pressures,
changes in product mix due to market demand, the overall market demand
for internet services, and the ability of the Company to protect its
proprietary information. WCTI assumes no obligation to update any
forward-looking statements.
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Contact:
WCTI
R. Brett Bell, 801/816-9904 (Investor Inquiries)
investors@wordcruncher.com
or
Columbia Financial Group, 888/301-6271
(Brokers & Analysts)
or
Brodeur Porter Novelli
Mark Molzen, 801/765-1500 (Media Inquiries)
mmolzen@brodeur.com |
