VTCO, here's a better story....
VTCO- filing for a NASD listing. And Insider buying.
INNEAPOLIS, Sep 7, 1999 (BUSINESS WIRE) -- Virtual Technology
Corporation (OTCBB:- VTCO), a leading e-commerce Company announced
today that it has retained PricewaterhouseCoopers LLP as its new
accounting firm. The firm previously used Lurie, Besikof, Lapidus &
Co., LLP a Minneapolis based accounting firm.
"We are pleased to have PricewaterhouseCoopers LLP as our new
accounting firm. We have been quite satisfied with our current firm,
Lurie, Besikof, Lapidus & Co., LLP. However, considering our long term
needs, current application for listing on NASDAQ and increased
participation in international markets, we feel the Company will be
better served by a major international firm," said Kenneth Israel,
Chairman of VTC.
PricewaterhouseCoopers LLP will work with Lurie, Besikof, Lapidus &
Co., LLP for a smooth transition with the expectation that 3rd Quarter
reporting for the period ending October 31, 1999, will be prepared by
PricewaterhouseCoopers LLP.
MINNEAPOLIS--(BUSINESS WIRE)--Sept. 7, 1999--
Insiders Buying VTCO
Virtual Technology Corporation (OTCBB:- VTCO), a leading
e-commerce company, announced today that certain insiders have
recently made purchases of VTC stock. Kenneth Israel, Chairman of VTC,
noted: "During August 1999, Harry Lowell, a principal shareholder,
Greg Appelhof, our President and Chief Executive Officer and Phil
Lacerte, a director, together purchased nearly 150,000 VTC shares at
prices ranging between $1.50 and $1.85 per share. Form 4 reports of
these transactions were filed with Securities and Exchange Commission.
We are pleased that these principals have the confidence in our
business to further enhance their stock positions in VTC."
ABOUT VIRTUAL TECHNOLOGY CORPORATION
Virtual Technology Corporation is an e-commerce company
specializing in sales of high performance computer hardware, software
and peripheral products to sophisticated computer users. Through its
e-commerce Web site at www.virtual-world.com, the Company offers more
than 60,000 units of selective, high-performance, brand name computer
equipment and over 100,000 software titles. The Company's Graphics
Technologies Division (www.graphicstech.com) is a 12 year old company
with seven offices nation-wide and net sales of $65 million in 1998.
GTI specializes in the wholesale distribution of premium computers and
graphics products such as notebooks, scanners, graphics cards,
monitors and other peripherals.
Statements in this Press Release that are not purely historical
are "forward looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the 1934
Act, including statements regarding VTC's expectations, hopes,
beliefs, intentions or strategies regarding the future generally,
VTC's growth strategy, future sales and anticipated trends in VTC's
business. All forward looking statements included in this Press
Release are based on information known to VTC on the date hereof, and
VTC assumes no obligation to update any such forward looking
statements. It is important to note that actual results could differ
materially from those in such forward looking statements as a result
of a number of factors, most of which are out of the control of VTC,
including, but not limited to, VTC's early stage of development, its
lack of profitability and cash flows and competition for the sale of
hardware and software products both on and off the internet.
--30--mb/ms*
CONTACT: The Company Investor & Public Relations
Greg Appelhof HerbLanzet, Deedee Lanzet
President/CEO Lanzet, Inc
(612) 915-1122 (212) 687-0061
greg@vamail.com lanzet@aol.com
KEYWORD: MINNESOTA
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
INTERACTIVE/MULTIMEDIA/INTERNET RETAIL
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URL: businesswire.com
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