Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : CCGI: ComTech Consolidated -- Ignore unavailable to you. Want to Upgrade?

To: DuGen who wrote (359)	10/14/1999 9:09:00 PM
From: Jeffrey D	Read Replies (1) \| Respond to of 394

Well, now this is interesting. Jeff << BUSINESS WIRE - October 14, 1999 17:13 HOUSTON, Oct 14, 1999 (BUSINESS WIRE) -- ComTech Consolidation Group Inc. (OTCBB:CCGI) today announced that the company is realigning its management team to position itself to succeed under Medicare's new Prospective Payment System (PPS). As part of this realignment, Winfred Fields is no longer with the company. The position of Chairman and CEO has been eliminated for the time being. ComTech President Joel Flowers will hold the top position in the company. ComTech's board of directors has appointed Walter Davis as interim CFO, a position that was previously held by Flowers. All health care operations will now become centralized with operating heads to report directly to the President. ComTech President Flowers had this to say of the recent developments: "As we continue to move ComTech forward, it is necessary to make managerial changes to fit the needs of the company. ComTech will now seek a CEO and Chairman with extensive knowledge of the public markets to aid the company as we move towards a listing on a major U.S. Stock Exchange." The company also announced today that ComTech will refocus its efforts on the development and potential spin-off of its Internet subsidiary Networks-Online. The company plans to build on its recently announced partnership with CMGI Internet Group (Nasdaq:CMGI) subsidiary Planet Direct and announce other partnership agreements in the near future. The company is also planning a new marketing campaign for Networks-Online in the Greater Houston market. ComTech also reported today that the company is officially recognized as a fully reporting company, having received a passing grade by the NASD. Investors can check the status of bulletin board stocks at www.otcbb.com. Statements regarding financial matters in this news release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. Copyright (C) 1999 Business Wire. All rights reserved. Distributed via COMTEX. -0- CONTACT: The Compass Point Group Inc., San Diego, Calif. Glenn Bartolini, 619/525-0800 (investors) gb@compasspointgroup.com Diann Tongco, 619/525-0800 (shareholder communications) dt@compasspointgroup.com >>