HYPD currently at .62/.90...this just out:
(BSNS WIRE) HyperDynamics Corporation Announces Major E-commerce Contrac
HyperDynamics Corporation Announces Major E-commerce Contract With $100M+
National Retailer
Business Editors, Technology Writers
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.
--30--MC/se*
CONTACT: Stock Enterprises
Jim Stock, 702/614-0003
jamestock@aol.com
www.hyd.net
KEYWORD: TEXAS
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED RETAIL
INTERACTIVE/MULTIMEDIA/INTERNET
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