To: Due Diligence who wrote (360 ) 12/7/1999 12:27:00 PM From: jeffrey rainey Respond to of 2080
Business Editors CAMARILLO, Calif.--(BUSINESS WIRE)--Dec. 7, 1999--In response to numerous investor requests, YARC Systems Corp. (OTCBB:YARC) today confirmed that, to the best of its knowledge, there has been no material selling of YARC securities by management or officers since April 1999. All stock certificates in YARC held by officers and management are restricted, and the appropriate filings would have to be made with the Securities and Exchange Commission under the provisions of Rule 144 before such stock could be released to the market. It should be noted that at this date YARC Systems has 20,448,021 shares of common stock issued and outstanding, 23,327,087 million on a fully diluted basis. The number of shares in the public float is just over 12 million. YARC officers and management own 34% of the issued and outstanding common stock. Forward-Looking Statements: Certain of the above statements may be forward-looking statements that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors, including competitive developments, lack of adequate financing, and other risk factors listed from time to time in the company's disclosure statements and/or SEC reports. Such statements are protected under the Safe Harbor provisions of the securities regulations. Note to Editors: All trademarks are the property of their respective owners. --30--mt/la* kwp/la CONTACT: YARC Investor Relations Philippe Niemetz, 800/477-7570, 212/344-6464 e-mail: wphconsultants@msn.com or YARC Press Relations 800/800-YARC, fax: 805/482-5209 e-mail: press@yarc.com