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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: HandsOn who wrote (27254)	6/13/2001 12:39:33 AM
From: Kevin Clarke	Respond to of 37746

THAT'S THE SAME THING I WAS SAYING TO MYSELF ABOUT TEXN HANDS, do you remember TEXN, this is the main reason they TANKED, look for a MAJOR TURN AROUND...IMO CHEERS KC 21st Century and Trident Settle Litigation FORT WORTH, Texas--(BUSINESS WIRE)--June 11, 2001--21st Century Technologies Inc. (``the company'') (OTCBB:TEXN - news) and its wholly owned subsidiary Trident Technologies Inc. today announced the pending settlement of the litigation previously filed against Douglas N. Spring and Buren Palmer II. The litigation has been pending in the United States District Court for the Northern District of Texas, Fort Worth Division. As part of the settlement of the litigation, Spring and Palmer will assign all of their interests in the Sea Patch and Pro Mag, and all related patent applications and technology, to Trident. ``This clears the way for Trident to continue with the development and marketing of its products without the distractions of continued litigation and conflicting claims to the ownership of the technology,'' stated Trident President Mike Gatchell. The Sea Patch and Pro Mag make up the newest generation of magnetic cam on/cam off devices developed by Trident. They are key components in Trident's line of maritime, inland barge, oil storage and hazardous materials (or HAZMAT) products. In March 2000, the Sea Patch was certified by the American Bureau of Shipping, which is the largest classification society for maritime products in the United States. Terms of the settlement were agreed upon on June 6. It is anticipated that settlement documents will be signed this week. In addition to the agreement regarding Trident's ownership of the patent applications and technology, the litigants agreed to not pursue all claims that they might have against each other. Pursuant to the agreement of the parties, the specific terms of the settlement were not publicly disclosed. ``We believe that this settlement is in the best economic interests of 21st Century and Trident as well as our shareholders,'' stated Kenneth Wilson, 21st Century's president and chief executive officer. ``We have achieved what we set out to do when we commenced this litigation -- protect our ownership interest in the Trident patents and technology -- and were able to do so without a continued investment of time and expense that is an unfortunate but necessary element of litigation,'' Wilson said. All statements other than statements of historical fact included in this report are ``forward-looking statements.'' The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and could yield results differing materially from those anticipated. -------------------------------------------------------------------------------- Contact: 21st Century Technologies Inc., Fort Worth Robert Warren, 817/838-8011