To: Bram12345 who wrote (29976 ) 2/23/2000 9:58:00 AM From: SSP Read Replies (3) | Respond to of 150070
SureQuest Systems, Inc., a Nevada Corporation, Announces Significant Events DALLAS, Feb. 23 /PRNewswire/ -- C. Scott Sykes, Jr., President of SureQuest Systems, Inc. (OTC Bulletin Board: DIET), Dallas, Texas, announced today that the Company recognized record billings of $370,960.04 for the month of January, 2000 and record earned revenues of $240,960.04 for the same period. He said that management believes that these monthly records are the result of the Company's ongoing efforts in 1999 to strengthen and expand the Company's relationships with its national and regional food distribution alliances, including Canada, and with other strategic partners and from upgrading and improving its software to be the most complete portfolio of products and services in the dietary management industry. Two of the Company's largest food distributors, Serca FoodService, Inc., the largest food distributor in Canada, and Food Services of America, Inc., ("FSA") the dominant food distributor in the Northwest United States, recently extended their licensing arrangements with the Company through 2003 for a total minimum projected revenue of $3.2 million. Mr. Sykes commented that these and other existing distributor relationships are projected to lead the Company to a profitable and record revenue year in 2000; however, there can be no assurances that this will occur. The Company is also projecting that its Windows multi-user dietary management software version will be available for distribution during the second quarter of this calendar year. This product will enable the Company to expand its customer base to include the hospital market and other multi- division/multi-site industries that depend on a cost effective food management system. Mr. Sykes also reported that the Company intends to comply with the Securities and Exchange Commission reporting requirements to become a fully reporting Company under the Securities and Exchange Act of 1934. He said, "the auditing firm is completing its field work and will incorporate its audit report in the expected SEC filing." He also said that "the Company is currently in discussions with several investor groups to raise additional capital for the Company. As a result, in order to have a stronger financial position when we file, we may decide to postpone our filing with the SEC until this capital is raised." SureQuest expects that the Company's stock symbol "DIET" will receive an "e" designation on March 5, 2000. He further cautioned that "there is no assurance that the SEC filing and review process will be completed in time to prevent the Company's listing from being removed from the OTC:BB. However, should that occur, the Company is confident that any 'delisting' will be of short duration." SureQuest Systems, Inc. further remains confident that the relationship with its investment banker, Allegiance Capital Corporation/Northstar International, will produce strategic investment partners to share in its vision of serving as a "Business to Business" facilitator to the food industry. Mr. Sykes noted that several prospective investor groups are currently reviewing the Company's business plan and SureQuest is confident that the Company will attract the necessary capital to begin execution of its business strategy during this year. SureQuest Systems, Inc. is a leading provider of dietary management software products and services to the health care and food services industry. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statement contained in this news release which are not historical facts may be "forward looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe SureQuest's hopes, plans, objectives, goals, intentions, or expectations are all forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond SureQuest's control, will affect actual results. SureQuest undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. SOURCE SureQuest Systems, Inc. -0- 02/23/2000 /CONTACT: Investor Relations of SureQuest Systems, Inc., 972-238-7200/ /Web site: surequest.com (DIET)