Friday June 4, 5:03 pm Eastern Time
Company Press Release
Advanced Systems International to Become SEC ''Reporting Company"
SOUTHFIELD, Mich.--(BUSINESS WIRE)--June 4, 1999--Advanced Systems International, Inc. (OTC BB:ADSN)(OTC BB:ADSNE) announced that is has filed a Form 10-SB registration with the Securities and Exchange Commission (SEC) on April 29, 1999. As a result, Advanced Systems will become a SEC ''reporting company'' on June 28, 1999. Interested parties may obtain a copy of the registration statement from the company's Investor Relations Department by calling 888/399-7000 or 248/263-0000, by accessing the SEC's EDGAR website ( sec.gov ) or Advanced Systems International's website at advsysintl.com.
Advanced Systems President and CEO, Gerald Pesut described the registration as ''a major milestone for our company and an important step for our shareholders and supporters. Becoming an SEC reporting company will allow us to provide easy access to the trading markets and timely information about Advanced Systems International via the SEC EDGAR website. Our growth is strong in 1999 and we have our business model and business team in place. This was the appropriate time to undertake registration.''
The registration will enable Advanced Systems to comply with the new Nasdaq OTCBB requirement for quotation. Advanced Systems is included in the first phase-in group for this new requirement because its ticker symbol starts with ''AD.'' If the SEC has not finished processing the registration statement by June 30, 1999, Advanced Systems will move for a brief transition period from being quoted via the OTCBB to the National Quotation Bureau's quotation service commonly known as the pink sheets. Quotations can continue to be available and trading can continue during the transition period. Delayed actual stock sale price information will continue to be available via normal Internet quotation services. For additional information on the National Quotation Bureau, including its soon to be introduced real time electronic pink sheet service, please visit their website at nqb.com.
''We regret any inconvenience that this short term transition process may cause our investors and supporters,'' stated Pesut. ''However, I'm confident that they'll understand the significance of the long term benefits of our becoming a reporting company.''
Advanced Systems International, Inc. is a leading supplier of open architecture enterprise software solutions with ATLink(TM) data distribution and access (DDA), for the Enterprise Resource Planning (ERP) environment, as well as ATServer® for time and attendance/labor allocation applications. Key markets include automotive, automotive supplier, packaged goods, food processing, and other manufacturing industries.
Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including but not limited to, risks of product non-approval or product development and market acceptance risks, the impact of competitive products and pricing, the results of current and future licensing and other collaborative relationships, the results of financing efforts, developments regarding intellectual property rights and litigation, and other risks identified in the Company's reports filed with the Securities and Exchange Commission. Actual results, events or performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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Contact:
Advanced Systems International, Southfield
Investor Relations:
Quentin Mai, 248/263-0000 or 888/399-7000
Web site: www.advsysintl.com
Email: qmai@advsysintl.com
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