Very nice release a few minutes ago...stock at .62/.90 right now with no trades. Horrendous spread but stock has been as high as 1.31 in last 20 days...gpg
(PR Wires) DJ: HyperDynamics Corporation Announces Major E-commerce Con
DJ: HyperDynamics Corporation Announces Major E-commerce Contract With $100M+
National Retailer
HOUSTON--(BUSINESS WIRE)--June 3, 1999--HyperDynamics Corporation (OTC
BB:HYPD) announced today the success of MicroData Systems, Inc., (its wholly
owned subsidiary) in closing a significant Internet based e-commerce
development project with The Mattress Venture, LP of Houston, Texas.
The Mattress Venture, LP currently supports eighteen (18) separate
franchises with approximately one hundred thirty (130) franchised stores.
According to Furniture/Today magazine, The Mattress Firm is currently the
46th largest furniture sales organization and fastest growing bedding
specialty retailer in the United States with projected annual sales in
excess of one hundred million dollars ($100,000,000). The initial project
budget is estimated at $800,000 and may grow rapidly depending upon the
startup or acquisition of additional stores. From a technical perspective,
the HyperDynamics' design utilizing the Internet provides a unique approach
in partnership with such industry leaders as Microsoft (Nasdaq:MSFT), Great
Plains Software (Nasdaq:GPSI), and Citrix Systems Inc.(Nasdaq:CTXS). Harry
Briers, president of MicroData Systems, Inc., stated that, "We are
delivering the first Web-based point-of-sale application that is fully
integrated with inventory, distribution, and financial accounting. Our
design will minimize the cost and complexity at the store level. Stores will
only need a PC connected to the Internet in order to operate. The system
will be easily scalable to meet the requirements of almost any size
organization."
Kent Watts, president, stated that, "HyperDynamics views this project as a
core opportunity. We are proving that companies that currently utilize
expensive private networks can now have the option to leverage the real
value of the Internet. As a result of our approach, retail and many other
industries that currently use older technology can save enormous amounts of
money while increasing their overall operating productivity. Additionally,
we believe our timing to be in-line with the rapid development of the
Internet infrastructure around the world." Kent Watts further proclaimed,
"There is a tidal wave of change coming which is monumental and of
historical significance. Businesses today must learn to surf or they will
drown."
The unlimited potential for additional projects is exciting. As the premier
Internet Technology Service Provider (ITSP), HyperDynamics expects to
develop an ongoing and recurring revenue base of Internet based projects and
IT (Information Technology) hosting services.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays
beyond the company's control with respect to market acceptance of new
technologies or products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
CONTACT: Stock Enterprises
Jim Stock, 702/614-0003
jamestock@aol.com
www.hyd.net
10:11 EDT JUNE 3, 1999
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