AS
It gets lonely sitting in the bottom of a stock and
waiting for some company....But it usually pays off...
Problem is ,,,you don;t know when.....
UIS....is a stock pick by this guy Stanley on CNBC..
Say that UIS is changing direction of co...going
more into the service end,,,didn't catch the whole
interview....
You never know..
Hope you considered wearables today....rumor to be on CNBC
Edge on Tues,,,,,,
Also
03/20 08:16 XYBERNAUT CEO SAYS COMPANY IS IN STRONGEST POSITION EVER
FAIRFAX, Va., Mar 20, 2000 /PRNewswire via COMTEX/ -- Xybernaut
Corporation (Nasdaq: XYBR), the leader in wearable computing and
communications solutions, today issued an open message from Xybernaut
Corporation to its shareholders and interested parties.
Edward G. Newman, President and CEO noted: "The Company feels that the
drop in stock price on Friday, March 17, was based on reaction to an
article released late Friday afternoon and was not based on any
fundamental change in our operations, prospects or financial position.
This article highlighted a disclaimer or qualification section that is
in our past and current annual reports, and fails to mention the
positive aspects of our performance last year. Such qualifications are
very common for fast growing technology companies and do not indicate
that the Company is in financial trouble. It only means that we will
require additional cash to carry out our ambitious plans to be the
leader in what we, and many industry analysts, expect will be a
multi-billion dollar market in the near future.
The article did not accurately nor fairly describe our current
position, financial or market, or our future opportunities. We are in a
great position coming off of our record fourth quarter and fiscal 1999
operating performance.
It's unfortunate that in an annual report that reported a nearly
fourfold growth in annual sales, that the writer of this article chose
to highlight a qualification that has been present since our IPO in
1996. It is also unfortunate that the writer of this article did not
contact the CEO or the CFO for comment to make sure that he understood
our prospects for the future and the accounting rules behind going
concern qualifications.
To clarify the situation and provide an appropriate perspective, let me
share the following information with you that we sent to shareholders
and interested parties in a XyberFlash Friday evening:
@ The Company has never been in a stronger position from a product, sales
or cash position. We currently have approximately $8 million cash on
hand.
@ The going concern clause in the audit opinion, which has been in our
reports since the inception of the Company, has never in the past been
considered "newsworthy" until Friday, March 17, one hour before the
market closed when this article was released. As mentioned above, this
clause is common for growing companies and only indicates that "the
Company has incurred recurring losses from operations and will require
additional capital to fund its operations."
@ The inclusion of this clause is required by accounting practices for
companies that are in the process of establishing a cash flow history
and is not an opinion that the Company is in financial difficulty. In
the past few years, Xybernaut has raised over $65 million in cash, and
we have amply demonstrated our capability to adequately capitalize the
Company to the benefit of our shareholders and customers alike.
@ Xybernaut, and our partners, believe that the marketplace is huge and
developing rapidly. We are confident that we have the financial means
to rapidly take that market and maximize the return for our
shareholders.
@ We are not a company at risk, and we have a number of financing
alternatives available to us to ensure that the Company remains
adequately capitalized. In fact, during the first couple of months of
2000 we have raised an additional $13 million.
@ We are of the belief that the marketplace has been established largely
by Xybernaut, that our products are world class, and that the likelihood
of success for this company has never been greater. Last year's
meaningful quarter to quarter revenue growth is part of the basis for
this belief, as is the increasing number of inquiries by customers
interested in the benefits offered by Xybernaut's wearable computing
solutions.
@ We have continued to strengthen our patent position, as demonstrated by
the recent announcement of the granting of the "transferable core"
patents and the existence of over 470 patent applications granted,
allowed and/or pending worldwide.
@ We continue to be in serious discussions with numerous major vendors
in both the computer and communication markets.
@ The obvious should not be overlooked! The Company is enjoying success,
and management is committed to dominating the huge worldwide marketplace
it has created and maximizing the long-term return for our shareholders.
The release of one article does not change this situation."
About Xybernaut Corporation Xybernaut Corporation is the leading
provider of mobile convergence solutions, and wearable computing
hardware, software and services. The company's patented wearable
computer, called the Mobile Assistant IV(R) (MA IV(R)), is a
full-function Pentium PC that runs Microsoft MS-DOS, Windows, and
Windows NT, along with UNIX, Linux and other operating systems that run
on the Intel x86 architecture. The MA IV allows users hands-free access
to information in the computer's internal storage, in local area
networks and on the Internet on an as-needed, where-needed basis.
Xybernaut's software is designed to provide users with the right
information when and where it's needed, using consistent navigation
techniques and screen presentations. With the MA IV, customers realize
immediate savings in maintenance and repair, diagnosis, inspection,
inventory control and data collection procedures. Key industries using
Xybernaut's products include manufacturing, distribution,
transportation, government, and utilities. Headquartered in Fairfax,
Virginia, Xybernaut has offices and subsidiaries in Europe (Germany)
and Asia (Japan). Visit Xybernaut's web site at www.xybernaut.com .
MS-DOS, Windows and Windows NT are registered trademarks of Microsoft
Corporation.
This press release contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995 (the
"Act"). In particular, when used in the preceding discussion, the words
"plan," "confident that," "believe," "expect," or "intend to," and
similar conditional expressions are intended to identify
forward-looking statements within the meaning of the Act and are
subject to the safe harbor created by the Act. Such statements are
subject to certain risks and uncertainties and actual results could
differ materially from those expressed in any of the forward-looking
statements. Such risks and uncertainties include, but are not limited
to, market conditions, the availability of components and production of
the Mobile Assistant, general acceptance of the Company's products and
technologies, competitive factors, the ability to successfully complete
additional financing and other risks described in the Company's SEC
reports and filings.
SOURCE Xybernaut Corporation
(C) 2000 PR Newswire. All rights reserved.
prnewswire.com
-0-
CONTACT: Robin Bono, Director of Corp Comm of Xybernaut Corporation,
703-631-6925, or rbono@xybernaut.com; or Chad Hill of Hill
Communications,
925-945-7910, or hillcomm@earthlink.net; or Ron Stabiner,
investors, of The
Wall Street Group, 212-888-4848, or
rstabiner@thewallstreetgroup.com
/Company News On-Call:
prnewswire.com or fax,
800-758-5804, ext. 114624
WEB PAGE: xybernaut.com
GEOGRAPHY: Virginia
INDUSTRY CODE: CPR
MLM
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