IRT Industries Inc. (OTC BB:IRTG), acquired exclusive software
distribution/marketing rights to sophisticated Artificial Intelligence
(AI) application, licensed by Commerce Capital Group LLC.
IRTG is proud to announce that they will be the first to have
access to innovative fully relational database solutions for its
licensed market segment. We will begin marketing this application with
its comprehensive financial content, in Florida. We will be first to
market this form of e-commerce technology. Plans are to begin
implementing the program before January 2000. IRT has also negotiated
the right for three years to acquire additional specific territories.
IRTG expects to build a co-branded site on this exclusive
Internet resource technology, offering premium financial solutions to
financial professionals. IRTG expects to take advantage of the
management of licensors 15 year track record of providing these
services using a non-internet-based technology. The upcoming
e-software revolution will allow a once time-consuming and complex
progress to be implemented via the Internet. This will eliminate
duplicitous fact gathering, disorganized records management, which can
all be centralized into one core database, with multilevel security
protocols, thus increasing value to financial professionals and their
clients, while reducing time commitments.
"We're very pleased to form this business alliance with Commerce
Capital Group (CCG). We have seen the application and are very
impressed with the opportunity before us," said Wrobel.
CCG is committed to providing financial services professionals
with value-added content. Its corporate philosophy is derived from
a perspective that everyone works to obtain a certain level of assets,
and that they should not needlessly expose their assets to loss. Why
needlessly expose or subject those assets to loss? With the recent
trend away from traditional financial services, the company believes
that financial professionals will eagerly embrace this new technology,
because it allows them to be more efficient, while providing their
customers with integrated resources and services via the Internet.
"Financial professionals can now virtually hold consumers' hands,
and walk them through vital tax, financial and critical planning
options online," said Arnold Wrobel, president of IRT. By combining
this technology with other professional services, financial
consultants, who work with individuals in income, retirement, tax and
estate planning, can receive the benefit of a highly personalized
experience that helps humanize the Internet.
IRT Industries Inc. Announces New Chairman
As part of an ongoing commitment to its stated e-commerce plans,
IRT President Arnold Wrobel, on Friday appointed Gary Dixon to its
board of directors. Dixon will serve as chairman of the board and
assist management in attracting other suitable directors and officers
consistent with IRT's e-commerce related business objectives.
Dixon brings with him over 30 years of demonstrated
accomplishments in technology related industries. He is currently
regional client services director for Oracle Consulting (Nasdaq:ORCL).
Oracle is the nation's second largest software developer
(www.us.oracle.com).
"We believe that Mr. Dixon will be an invaluable asset to the
accomplishment of IRTG's future e-commerce goals," said Arnold Wrobel.
Major Accounting Executive Joins IRT Board
In furtherance of IRT's e-commerce objectives Arnold Wrobel and
Chairman Gary Dixon on Friday appointed Eric Heintschel to its board
of directors.
"As the newest member to the board, Eric will perform a vital
role in insuring that the company will best optimize standard
accounting principles in its pursuit of stated e-commerce objectives,"
said IRT President Arnold Wrobel.
Heintschel is a partner in one of the "Big 3" accounting firms
(Undisclosed). "We believe Eric's depth and level of knowledge in
financial institution accounting will provide IRT with invaluable
insight into how to better meet its future clients' goals and business
objectives using e-commerce solutions," said Wrobel.
IRT Elects New President
IRT announced in March 1999, that it would be changing its
business focus to e-commerce segments. In furtherance of this
objective Arnold Wrobel, and the board of directors, announce that
Dale Chapman has been appointed to replace Arnold Wrobel as president
of IRTG.
"Mr. Chapman was selected for his unique financial and banking
operations background. He possesses skills that the company believes
are harmonious and consistent with its business plans. Mr. Chapman has
six years with Bank of America (formerly NationsBank - NYSE:NB,BOA).
He will join us from GreenPoint Mortgage Corp., a subsidiary of
GreenPoint Financial Corp. (NYSE:GPT), where he served as corporate
operations analyst. His talents in systems integration, project
management, operations management, and operations/financial analysis,
combine to give him a breadth and diversity necessary to successfully
run the company through its anticipated growth stages," said Wrobel.
To hold down costs Chapman will in the interim, also serve as
secretary/treasurer.
IRT Forms Focus Committee
Incoming President Dale Chapman and Directors Gary Dixon and Eric
Heintschel have formed a Focus Committee. They will continue to seek
to identify and implement strategic marketing, training and recruiting
objectives which should result in management attracting other high
profile directors, officers and personnel consistent with the
company's business plan.
As its primary goal, the Focus Committee will seek the
appointment of officers and directors who have the variety, experience
and skills necessary to achieve the company's long and short-term
business goals.
Wrobel, who was responsible for procuring the License Agreement
and coordinating the board appointments, as well as IRT's new
president, is excited about the changes. The new president and
directors bring financial stability, advertising and years of
invaluable financial and marketing experience to the table.
CCG will soon distribute its software on the Internet through a
private electronic distribution network of banks, attorneys,
stockbrokers, investment advisors, CPA's, financial planners and
insurance companies. With the burgeoning e-software industry, the
software may have immense potential. Currently, there are no
comparable software providers offering these services via the
Internet.
CCG expects that this e-commerce network will enable established
brokerage firms, banks, CPA's, financial planners, attorney's and
other financial intermediaries to provide on-line products and
services to their retail clients.
CCG will be using state-of-the-art technology. It will
incorporate Cisco Systems (Nasdaq:CSCO) routing and wide area
networking equipment, and MCI WorldCom (Nasdaq:WCOM) Internet
backbone.
NOTE: Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995: This release contains forward-looking
statements that are subject to risks and uncertainties, including, but
not limited to, the impact of competition, continued acceptance of the
company's products and services, fluctuations in stock price and
liquidity, fluctuation operating results and other risks detailed from
time to time in the company's filings with the Securities and Exchange
Commission.
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CONTACT: IRT Industries Inc.
Dale Chapman, President
704/364-2066 |
