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Technology Stocks : XYBR - Xybernaut -- Ignore unavailable to you. Want to Upgrade?

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To: Roy F who wrote (5560) 4/29/2003 10:18:45 AM From: StockDung   Respond to of 6847   Roy, when does Xybernaut make the move into Siberia?

To: Roy F who wrote (5560) 4/29/2003 10:40:32 AM From: StockDung   Respond to of 6847   THE TALE OF TWO CITIES; Xybernaut Calls Off $50 Million IBM Deal Washington Post - Apr 8, 2003 ... Fairfax-based Xybernaut Corp., unable to sell as many wearable computers as anticipated, backed out of a deal to pay International Business Machines Corp. ... Xybernaut Strengthens IBM Relationship Business Wire (press release) - Apr 8, 2003 FAIRFAX, Va.--(BUSINESS WIRE)--April 8, 2003--Xybernaut(R) Corporation (NASDAQ: XYBR) today confirmed several recent developments related to its relationship ...

To: Roy F who wrote (5560) 4/29/2003 10:57:27 AM From: StockDung   Respond to of 6847   Wow Roy, Applesgate. Impressive google.com

To: Roy F who wrote (5560) 4/29/2003 11:06:20 AM From: StockDung   Respond to of 6847   We all believe you Xybernaut (wink) good luck WINK WINK NUDGE NUDGE !!!!!!!

To: Roy F who wrote (5560) 4/29/2003 3:46:56 PM From: StockDung   Respond to of 6847   ONLY 10 UNITS ROY? ONE THING FOR SURE. XYBERNAUT WILL NEVER BE ACCUSED OF STUFFING THE CHANNEL

To: Roy F who wrote (5560) 4/30/2003 11:09:11 AM From: StockDung   Respond to of 6847   Ten O'Clock Tech Go-Anywhere Computing Arik Hesseldahl, 04.30.03, 10:00 AM ET NEW YORK - Notebooks are hot this year. At least that's the message marketing machines of the various PC makers are trying to convey. But what's truly hot is portability. While many notebooks have gotten both thinner and lighter in the last year, the idea of vastly reducing the size of the notebook PC to something comparable to a PDA has been getting increasing attention. Vulcan's Mini-PC shown compared to an IBM Thinkpad The latest to test the waters with the concept is Vulcan, the company run by Microsoft (nasdaq: MSFT - news - people ) co-founder Paul Allen. It has been showing around a notebook PC it calls the Mini-PC that weighs less than 1 pound and measures about 5 inches wide, 4 inches deep and 1 inch thick. That's pretty portable. And instead of running some variant of Windows CE as you'd expect from a device that small, it runs a full version of Microsoft's Windows XP. The company hasn't yet said what processor chip the machine will use. But it does say it comes with 256 megabytes of memory, a 20-gigabyte hard drive and integrated Wi-Fi wireless networking support. The screen is obviously small, measuring 5.8 inches diagonally with a resolution of 800 pixels by 400 pixels. But here's where a device like this might turn out to be really useful. Like most notebooks, it supports external displays, and since it has a USB port it will allow you to attach a keyboard and mouse. Suddenly there's less need for a PC companion like a PDA or a second PC that a notebook is often intended to be. Connected to a handful of external peripherals this machine could be a desktop PC--then break away to be as convenient as a PDA on the road. Vulcan is looking around to license its design to major PC vendors with an eye toward having models available for Christmas this year with a price in the ballpark of $1,200. While big hands often chafe at small keyboards, this device seems small enough that a user could type on it with using their thumbs, much like they do with devices like Research In Motion's (nassdaq: RIMM - news - people ) Blackberry. If it will boot up or wake up from sleep mode as easily as a PDA turns on, and if the battery has decent life--is eight hours too much to ask?--Vulcan may be on to something.

To: Roy F who wrote (5560) 4/30/2003 7:02:36 PM From: StockDung   Respond to of 6847   EMPLOYMENT AGREEMENTS Mr. Edward G. Newman entered into a two-year employment agreement effective as of January 1, 2003, and expiring on December 31, 2004, as the Company's Chairman and Chief Executive Officer. The position of President of the Company, which was previously held by Mr. Newman, is being assumed by Dr. Steven A. Newman. The employment agreement provides for a salary of $300,000. Under the agreement, the Company will provide for a $2 million life insurance policy on Mr. Newman's life payable to his designated beneficiaries and he will receive a car allowance in the amount of $1,200 per month. The agreement provides the executive with the same general benefits as the Company provides to its other senior executive officers as a group, including health care insurance, participation in benefit plans, and six weeks vacation. Based solely upon the Company's financial performance during the employment term, Mr. Newman may receive, as a performance bonus, an annual grant of stock options (or, at Mr. Newman's request, shares of common stock) in an amount equal to the greater of: (i) 2% of the excess over the Company's revenue goal for each fiscal year, if the revenue goal is attained, and (ii) 5% of the excess over the Company's net profit goal for each fiscal year, if the net profit goal is attained ((i) and (ii) together, the "Performance Options"), with a limit on such grant of 4% of the Company's then outstanding shares of common stock in any given fiscal year during the term of the agreement. The Performance Options are exercisable at a price equal to the average of the closing price of the Common Stock for 30 days prior to the end of the applicable fiscal year. As an incentive to enter into this agreement, Mr. Newman received a grant of 300,000 options vesting in equal installments on each of December 31, 2003 and December 31, 2004. Dr. Steven A. Newman entered into a two-year employment agreement effective as of January 1, 2003, and expiring on December 31, 2004, assuming the position of President and Chief Operating Officer of the Company. Mr. Newman previously held the position of Executive Vice President and remains the Vice Chairman of the Company's Board of Directors. The employment agreement provides for a salary of $300,000. The agreement provides the executive with the same general benefits as the Company provides to its other senior executive officers as a group, including health care insurance, participation in benefit plans, and six weeks vacation, and a car allowance in the amount of $1,000 per month. Based solely upon the Company's financial performance during the employment term, Mr. Newman may receive Performance Options on the same basis as are applicable to Mr. Edward G. Newman as described above, with a limit on such grant of 4% of the Company's then outstanding shares of common stock in any given fiscal year during the term of the agreement. The Performance Options are exercisable at a price equal to the average of the closing price of the Common Stock for 30 days prior to the end of the applicable fiscal year. As an incentive to enter into this agreement, Mr. Newman received a grant of 250,000 options vesting in equal installments on each of December 31, 2003 and December 31, 2004. Thomas D. Davis is employed pursuant to a 26-month employment agreement expiring on December 31, 2004. This agreement calls for an initial salary of $150,000 with annual increases at the CPI percentage plus three percent; bonuses, payable at the sole discretion of the Board of Directors in cash, shares of Common Stock, options to purchase shares of Common Stock, or any combination thereof, in an amount to be determined by the Board of Directors; a $500,000 life insurance policy payable to his designated beneficiaries; and benefits which the Company may provide to its executive officers, including health care insurance and vacation. Mr. Davis is eligible to participate in bonus or other programs that were established subsequent to the date he entered into his employment agreement. As an incentive to enter into this agreement, Mr. Davis received a signing bonus of $10,000, of which amount $6,666 was paid during 2002 and the remaining $3,334 is expected to be paid during 2003, and a grant of 150,000 options, which vests in three equal installments on November 1, 2002, 2003 and 2004. Kazuyuki Toyosato is employed pursuant to a two-year employment agreement expiring on September 21, 2003. Pursuant to this employment agreement, Mr. Toyosato receives an annual base salary of $190,000 and is eligible to receive bonuses of $40,000 to $60,000 annually, contingent upon completion of performance objectives. Dr. Edwin Vogt was employed with the Company pursuant to a five-year employment agreement expiring on December 31, 2004, pursuant to which Dr. Vogt received an annual base salary of $150,000. Effective January 1, 2003, Dr. Vogt entered into a consulting agreement with the Company through which he resigned his position as an employee of the Company. Pursuant to the terms of the consulting agreement, Dr. Vogt will receive consulting fees totaling Euro 20,000 for the quarter ended March 31, 2003 and Euro 10,000 for each subsequent calendar quarter. Dr. Vogt is also eligible to receive commissions in a manner and amount to be determined in the future. Either the Company or Dr. Vogt can terminate the consulting agreement within 30 days of the end of each calendar quarter. Eugene J. Amobi is employed pursuant to a three-year employment agreement expiring on December 31, 2002. This agreement provides for an annual base salary of $140,000 and an annual discretionary bonus to be determined by the Company for each full year of employment with the Company based upon the performance of Mr. Amobi during such year as well as the Company's overall performance during such year. As an incentive to enter into this agreement, Mr. Amobi was granted the right to purchase 150,000 shares of Common Stock, which right will vest over a period of three years in increments of 50,000 shares per year on December 31 of each year beginning December 31, 2000 through December 31, 2002. This agreement provides Mr. Amobi with benefits which the Company may provide to its executive officers, including health care insurance, automobile allowance and vacation. 7 -------------------------------------------------------------------------------- COMPENSATION PLANS The Company has currently in effect the following compensation plans: the 1996 Omnibus Stock Incentive Plan, the 1997 Stock Incentive Plan, the 1999 Stock Incentive Plan, the 2000 Stock Incentive Plan and the 2002 Stock Incentive Plan (collectively, the "Incentive Plans"). The Incentive Plans provide for the granting of incentive stock options ("Incentive Stock Options") within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"), nonqualified stock options, stock appreciation rights ("SARs") and grants of shares of Common Stock subject to certain restrictions ("Restricted Stock") to officers, directors, employees and others. The Incentive Stock Options, nonqualified stock options, SARs and Restricted Stock shall be collectively referred to herein as the "Awards." Incentive Stock Options can be awarded only to employees of the Company at the time of the grant. The Incentive Plans are administered by the Compensation Committee of the Board of Directors (subject to the authority of the full Board of Directors), which determines the terms and conditions of the Awards granted under the Incentive Plans, including the exercise price, number of shares subject to the option and the exercisability thereof. Dr. Steven A. Newman, Lt. Gen. Harry E. Soyster (Ret.) and Martin Eric Weisberg, Esq. currently are the members of the Compensation Committee. The exercise price of all Incentive Stock Options granted under the Incentive Plans must equal at least the fair market value of the Common Stock on the date of grant. In the case of an optionee who owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company ("Substantial Stockholders"), the exercise price of Incentive Stock Options must be at least 110% of the fair market value of the Common Stock on the date of grant. The exercise price of all nonqualified stock options granted under the Incentive Plans shall be determined by the Compensation Committee. The term of any Incentive Stock Option granted under the Incentive Plans may not exceed ten years, or, for Incentive Stock Options granted to Substantial Stockholders, five years. The Incentive Plans may be amended or terminated by the Board of Directors, but no such action may impair the rights of a participant under a previously granted option. The Incentive Plans provide the Board of Directors or the Compensation Committee the discretion to determine when options granted thereunder shall become exercisable and the vesting period of such options. Upon termination of a participant's employment or relationship with the Company, options may be exercised only to the extent exercisable on the date of such termination (within three months), but not thereafter, unless termination is due to death or disability, in which case the options are exercisable within one year of termination. The Incentive Plans provide the Compensation Committee discretion to grant SARs to key employees, consultants and directors. Promptly after the exercise of an SAR, the holder shall be entitled to receive in cash, by check or in shares of Common Stock, an amount equal to the excess of the fair market value on the exercise date of the shares of Common Stock as to which the SAR is exercised over the base price of such shares, which shall be determined by the Compensation Committee. The Incentive Plans also provide the Compensation Committee discretion to grant to key persons shares of Restricted Stock subject to certain contingencies and restrictions as the Compensation Committee may determine. Furthermore, the 1996 Omnibus Stock Incentive Plan provides that upon a change in control of the Company, all previously granted options and SARs immediately shall become exercisable in full and all Restricted Stock immediately shall vest and any applicable restrictions shall lapse. The 1996 Omnibus Stock Incentive Plan defines a change of control as the consummation of a tender offer for 25% or more of the outstanding voting securities of the Company, a merger or consolidation of the Company into another corporation less than 75% of the outstanding voting securities of which are owned in aggregate by the stockholders of the Company immediately prior to the merger or consolidation, the sale of substantially all of the Company's assets other than to a wholly-owned subsidiary, or the acquisition by any person, business or entity other than by reason of inheritance of over 25% of the Company's outstanding voting securities. The change of control provisions of the 1996 Omnibus Stock Incentive Plan may operate as a material disincentive or impediment to the consummation of any transaction which could result in a change of control. As of December 31, 2002, a total of 7,156,367 options had been issued and were outstanding pursuant to the Incentive Plans. Each of the outstanding options has an exercise price at least equal to the fair market value of the Common Stock on the date of grant. As of December 31, 2002, there were no SARs outstanding and there have been grants of Restricted Stock totaling 485,298 shares of Common Stock.

To: Roy F who wrote (5560) 4/30/2003 7:03:51 PM From: StockDung   Read Replies (1) | Respond to of 6847   EQUITY COMPENSATION PLAN INFORMATION The table below sets forth certain information as of the Company's fiscal year ended December 31, 2002 regarding the shares of the Company's common stock available for grant or granted under stock option plans that were adopted by the Company's stockholders. The Company has no stock option plan that was not adopted by the Company's stockholders. 8 -------------------------------------------------------------------------------- Number of securities remaining available for future issuance Number of securities Weighted-average under equity compensation to be issued upon exercise exercise price of plans (excluding securities in of outstanding options outstanding options the first column of this table) ---------------------- ------------------- ------------------------------- Equity Compensation plans approved by security holders 7,156,367 $3.13 2,900,880 Equity Compensation plans not approved by n/a n/a n/a security holders COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION The members of the Compensation Committee participate in all deliberations concerning executive compensation. The Compensation Committee consists of Lt. Gen. Harry E. Soyster (Ret.), Dr. Steven A. Newman and Martin Eric Weisberg, Esq. No executive officer of the Company serves as a member of the board of directors or compensation committee of another entity, which has one or more executive officers who serve as a member of the Company's Board of Directors or Compensation Committee. ITEM 12: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS The following table sets forth, as of April 24, 2003, certain information regarding the ownership of voting securities of the Company by each stockholder known to the management of the Company to be (i) the beneficial owner of more than 5% of the Company's outstanding Common Stock, (ii) the directors during the last fiscal year and nominees for director of the Company, (iii) the executive officers named in the Summary Compensation Table herein under "Executive Compensation" and (iv) all executive officers and directors as a group. The Company believes that the beneficial owners of the Common Stock listed below, based on information furnished by such owners, have sole investment and voting power with respect to such shares. Amount of Shares Percentage Name Beneficially Owned Owned ---- ------------------ ----- M. Dewayne Adams 66,406 (1) * 12701 Fair Lakes Circle Fairfax, Virginia 22033 Eugene J. Amobi 660,000 (2) * 12701 Fair Lakes Circle Fairfax, Virginia 22033 Thomas D. Davis 100,609 (3) * 12701 Fair Lakes Circle Fairfax, Virginia 22033 James S. Gilmore III, Esq. 50,000 (4) * 12701 Fair Lakes Circle Fairfax, Virginia 22033 Marc Ginsberg 0 * 12701 Fair Lakes Circle Fairfax, Virginia 22033 Edward G. Newman 1,931,995 (5) 1.5% 12701 Fair Lakes Circle Fairfax, Virginia 22033 9 -------------------------------------------------------------------------------- Steven A. Newman, M.D. 1,581,115 (6) 1.2% 12701 Fair Lakes Circle Fairfax, Virginia 22033 Phillip E. Pearce 125,000 (7) * 12701 Fair Lakes Circle Fairfax, Virginia 22033 James J. Ralabate, Esq 363,726 (8) * 5792 Main Street Williamsville, New York 14221 Lt. Gen. Harry E. Soyster (Ret.) 169,364 (9) * 12701 Fair Lakes Circle Fairfax, Virginia 22033 Kazuyuki Toyosato 200,000 (10) * 12701 Fair Lakes Circle Fairfax, Virginia 22033 Dr. Edwin Vogt 182,500 (11) * 12701 Fair Lakes Circle Fairfax, Virginia 22033 Martin Eric Weisberg, Esq. 207,000 (12) * 405 Lexington Avenue New York, New York 10174 Noritsugu Yamaoka 0 * 12701 Fair Lakes Circle Fairfax, Virginia 22033 All officers and directors as a group (14 persons) 5,637,715 (13) 4.3% ---------- * Less than 1% (1) Includes 66,406 shares of Common Stock issuable upon exercise of currently exercisable options. (2) Includes 370,000 shares of Common Stock issuable upon exercise of currently exercisable options. (3) Includes 99,709 shares of Common Stock issuable upon exercise of currently exercisable options. (4) Includes 50,000 shares of Common Stock issuable upon exercise of currently exercisable options. (5) Includes (a) 761,950 shares of Common Stock beneficially owned by Mr. Newman's wife, Frances C. Newman, (b) 200,000 shares beneficially owned by an irrevocable trust established by Mr. Newman for the benefit of his children, (c) 28,900 shares beneficially owned by an irrevocable trust established by Mr. Newman for the benefit of his sister, (d) 28,900 shares beneficially owned by an irrevocable trust established by Mr. Newman for the benefit of his mother, (e) 9,000 shares owned by an irrevocable trust established by Dr. Steven A. Newman for which Mr. Newman is trustee and (f) 1,765 shares beneficially owned by Mr. Newman and Frances C. Newman as joint tenants. Mr. Newman disclaims beneficial ownership of all securities included in (a), (b), (c) and (d) above and this disclosure shall not be deemed an admission that Mr. Newman is the beneficial owner of these securities for purposes of Section 16 or for any other purpose. (6) Includes (a) 1,122,134 shares of Common Stock issuable upon exercise of currently exercisable options and (b) 100,000 shares beneficially owned by an irrevocable trust established by Dr. Newman for the benefit of his children, for which shares Dr. Newman disclaims beneficial ownership. (7) Includes 125,000 shares of Common Stock issuable upon exercise of currently exercisable options. 10 -------------------------------------------------------------------------------- (8) Includes 195,000 shares of Common Stock issuable upon exercise of currently exercisable options. (9) Includes 150,000 shares of Common Stock issuable upon exercise of currently exercisable options. (10) Includes 200,000 shares of Common Stock issuable upon exercise of currently exercisable options. (11) Includes 182,500 shares of Common Stock issuable upon exercise of currently exercisable options. (12) Includes (a) 180,000 shares of Common Stock issuable upon exercise of currently exercisable options, (b) 18,000 shares beneficially owned by Mr. Weisberg's children and (c) 9,000 shares beneficially owned by Mr. Weisberg's wife. Mr. Weisberg disclaims beneficial ownership of all shares owned by his wife and children. (13) Includes 2,740,749 shares of Common Stock issuable to the group upon exercise of currently exercisable options. ITEM 13: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS In connection with the transactions described below, the Company did not secure an independent determination of the fairness and reasonableness of such transactions and arrangements with affiliates of the Company. In each instance described below, the disinterested directors (either at or following the time of the transaction) reviewed and approved the fairness and reasonableness of the terms of the transaction. The Company believes that each transaction was fair and reasonable to the Company and on terms at least as favorable as could have been obtained from non-affiliates. Transactions between any corporation and its officers and directors are subject to inherent conflicts of interest. LEGAL SERVICES The Company uses James J. Ralabate, Esq., a member of its Board of Directors, as its patent counsel. The Company had expenditures of $331,112, $421,333 and $174,468 during 2002, 2001 and 2000, respectively, in legal services payable to this director. These amounts represent gross payments made by the Company and the counsel is responsible for all overhead, professional, administrative and other expenditures incurred by his law firm. The law firm bills the Company in accordance with its established standard billing rates used in the past with its other clients. During 2002 and 2001, the Company represented the law firm's only significant client. During approximately half of 2002 and all of 2001 and 2000, the director also serves as the Company's processing agent for payments made to various other domestic and international law firms and agencies used to file and maintain patents and trademarks. The director is paid only the amount that is passed through to these other law firms and agencies and pays administrative services related to these services. The Company made additional payments of $274,040, $485,827 and $266,026 during 2002, 2001 and 2000, respectively, to this director's law firm related to services rendered by the director's law firm as the Company's processing agent for all foreign patent and trademark filing and prosecution expenses. The Company's management believes that the relationship with this law firm is based on arms-length terms and conditions. The Company uses a law firm, in which Martin Eric Weisberg, Esq., its Secretary and member of its Board of Directors is a partner, for services related to financings, litigation, SEC filings and other general legal matters. The Company had expenditures of $464,067, $392,524 and $446,320 during 2002, 2001 and 2000, respectively, in legal services payable to this law firm. The law firm bills the Company in accordance with the established billing rates used with its other clients. As a result, the Company's management believes that the relationship with this law firm is based on arms-length terms and conditions. OTHER RELATED TRANSACTIONS During 2000, Xybernaut GmbH used a company to provide configuration and technical support services and a separate company to act as a distributor of the Company's hardware products. The executive officers of these two companies are the son and daughter-in-law of Edwin Vogt, a current consultant and member of the Board of Directors of the Company and a former Senior Vice President. During 2000, the Company incurred expenses related to the technical support services totaling $180,456 and recognized revenue related to distribution sales of its hardware products totaling $313,843. During 2000, the Company terminated its relationship with these two companies and established a reserve of $108,856 against the accounts receivable balance owed by one of the companies. This balance was written off in 2001. The company providing configuration and technical support services billed the Company using the established billing rates used with its other clients. Additionally, management periodically compared these billings against charges it would incur if these services were provided by a different provider. The agreement with the distributor was reached with similar terms and conditions provided to other resellers of the Company's products. As a result, the Company's management believes that the relationship with these companies was based on arms-length terms and conditions. 11 -------------------------------------------------------------------------------- Between November 2000 and February 2001, the Company loaned a net balance of $940,188 to Edward G. Newman, the Company's former President and current Chief Executive Officer and Chairman of the Board of Directors. The proceeds were used to prevent a forced sale of a portion of this officer's personal common stock holdings of the Company that secured a personal margin loan from an investment bank. The loan was made pursuant to a promissory note that was secured by shares of the officer's personal common stock holdings of the Company and accrued interest at 8% per year. On December 31, 2001, the Company's Board of Directors increased the number of shares securing the loan from 200,000 shares to 250,000 shares, extended the maturity date from December 31, 2001 to December 31, 2002 and reduced the interest rate to 6%, reflective of a general decline in interest rates over this period. On December 17, 2002, the $1,086,891 in outstanding principal and interest was repaid in full through the i) transfer by the officer to the Company of 1,108,343 shares of the Company's common stock personally held by the officer, which amount includes the shares that were pledged as collateral, which were valued at $681,631,and ii) cancellation of all of the officer's 742,049 options to purchase shares of the Company's common stock that had been granted prior to the date of repayment, which were valued at $405,260. Effective December 31, 2002, the Company cancelled the 1,108,343 shares of common stock transferred through this repayment. To determine the fair market value of the transfer of shares of stock and the cancellation of stock options, the Company used the market price of the Company's common stock on the date of repayment and the Black-Scholes option-pricing model, respectively. The outstanding principal and interest owed by the officer to the Company under this promissory note totaled $0 and $1,026,708 at December 31, 2002 and 2001, respectively.

To: Roy F who wrote (5560) 5/1/2003 10:16:56 AM From: StockDung   Read Replies (1) | Respond to of 6847   Xybernaut Names Vice Chairman Steven Newman President Thursday May 1, 10:13 am ET FAIRFAX, Va. (Dow Jones)--Xybernaut Corp. named Vice Chairman and Executive Vice President Steven A. Newman president of the company. In a press release Thursday, the wearable computer products company said that its previous president, Ed Newman, will continue to serve as chairman and chief executive. Shares of Xybernaut traded flat recently at 44 cents on Nasdaq volume of 45, 500 shares. Average daily volume is about 1.1 million shares. Company Web site: xybernaut.com -Jacquie Jordan; Dow Jones Newswires; 201-938-5400

To: Roy F who wrote (5560) 5/1/2003 10:17:42 AM From: StockDung   Respond to of 6847   Who better that an eye Docter to run Xybernaut Roy?

To: Roy F who wrote (5560) 5/2/2003 9:34:34 AM From: StockDung   Respond to of 6847   HOMELAND SECURITY ALERT Attention StockPatrol.com readers. The Department of Homeland Security has issued the following alert: Important Notice from the Department of Homeland Security Regarding an Ongoing Scam The United States Department of Homeland Security (DHS) has requested that securities regulators alert broker/dealers about an on-going scam. The DHS' Office of Investigations, New York Field Office, is conducting an investigation into the use of counterfeit/fictitious "Bank" and "Cashier" checks to open online trading accounts. One particular organization typically mails a check, a downloaded application containing the fictitious/stolen identity, and two forms of altered identification, after establishing the online relationship. This may involve speaking with a broker by telephone. The victimized firms then deposit the check because it is believed to be official. During the 10-day clearing period, the organization will trade. If the trading results in a profit, they would then ask the firm to wire funds to an account held at a foreign bank. The organization will also ask the firm to wire recently deposited funds (from the "check") to the above-mentioned accounts, because they may have "over extended themselves". In numerous cases, the firms have sent amounts of $9,000-$68,000. If you have any information about this type of activity, please immediately notify DHS Special Agent Erik Rosenblatt at (646) 230-3253. stockpatrol.com

To: Roy F who wrote (5560) 5/2/2003 12:41:12 PM From: StockDung   Respond to of 6847   John Moynahan brings to CardSystems more than 16 years of experience as a chief financial officer or treasurer of publicly traded companies ranging from development stage to over $900 million in annual revenues. Most recently Mr. Moynahan was with Xybernaut Corporation where he served in roles including executive vice president international operations, senior vice president and chief financial officer, and where he was a member of the board of directors. Mr. Moynahan directed Xybernaut's initial public offering in 1996. Mr. Moynahan holds a B.A. from Colgate University, and an MBA from New York University. CardSystems Appoints Three Seasoned Executives to Leadership Roles Thursday April 3, 10:29 am ET Leading Provider of Intelligent Electronic Payment Processing Service Selects CFO, SVP Marketing and Product Management, and SVP Operations to Support Growth Initiatives CHANTILLY, Va., April 3 /PRNewswire/ -- CardSystems, a leading independent full-service electronic payment processor, announced today that it has appointed John Moynahan senior vice president and chief financial officer, John Skeele senior vice president marketing and product management, and Steve McHenry senior vice president operations. CardSystems recently announced that it has secured an additional $23.6 million in funding, and the strengthening of the management team further supports the company's strategy of increasing market share by offering its clients advanced technology for processing electronic payments and intelligent applications for managing risk and disputes. ADVERTISEMENT "All three executives bring unique talents and abilities to their positions," said John Cramp, president and chief executive officer of CardSystems. "As we build on our success to date and work to expand our services in the near future, establishing a strong management team is critical to achieving our goals. With additional funding now in place, these appointments further strengthen our positioning for future development and growth, and reaffirm CardSystems' commitment to providing its clients leading- edge payment processing and high-quality customer service." John Moynahan brings to CardSystems more than 16 years of experience as a chief financial officer or treasurer of publicly traded companies ranging from development stage to over $900 million in annual revenues. Most recently Mr. Moynahan was with Xybernaut Corporation where he served in roles including executive vice president international operations, senior vice president and chief financial officer, and where he was a member of the board of directors. Mr. Moynahan directed Xybernaut's initial public offering in 1996. Mr. Moynahan holds a B.A. from Colgate University, and an MBA from New York University. John Skeele returns to CardSystems where he is responsible for strategic market analysis as well as product definition, development and marketing. In his previous time with CardSystems Mr. Skeele developed the company's industry leading merchant risk management system, Merchant Monitor(TM). Mr. Skeele rejoins CardSystems from Acumen Solutions where he was the managing director of the Financial Services consulting practice. Mr. Skeele has substantial expertise in the financial services industry, including 26 years with American Management Systems where he held various leadership positions in its Financial Services software and systems development group. Mr. Skeele graduated with a BA from Amherst College, and an MBA from the Colgate Darden Graduate School of Business at the University of Virginia. Steve McHenry joins CardSystems from First Data Merchant Services (FDMS) where he most recently was a vice president and general manager responsible for the operational and P&L management of a $75 million per year merchant acquiring portfolio. Previously, Mr. McHenry was responsible for implementing the FDMS system in the UK and, prior to that, for managing the dispute resolution and merchant risk areas at FDMS. A graduate of Notre Dame, Mr. McHenry also earned an MBA from Case Western Reserve University. ABOUT CARDSYSTEMS CardSystems Solutions Inc., is a leading provider of intelligent end-to- end electronic payment-processing services to acquiring banks and Independent Sales Organizations (ISO's). With CardSystems' comprehensive and flexible array of processing services, ISO's and acquiring banks can manage the entire payment processing cycle and customize services to fit their merchant portfolios while maintaining complete control of risk, dispute resolution and proprietary customer data. CardSystems' intelligent enabling technologies include an expert system, neural network and service offerings optimized for the card processing industry. The company processes transactions for more than 60,000 merchants through its network of ISO's and Merchant Acquirers. Headquartered in Northern Virginia, CardSystems' transaction processing services are available to the card industry on an Application Service Provider (ASP) or Business Service Provider (BSP) basis. For more information on CardSystems, visit www.cardsystems.com. -------------------------------------------------------------------------------- Source: CardSystems Solutions Inc.

To: Roy F who wrote (5560) 5/5/2003 9:59:40 AM From: StockDung   Respond to of 6847   Xybernaut to Announce Financial Results for First Quarter 2003 on May 15 FAIRFAX, Va.--(BUSINESS WIRE)--May 5, 2003--Xybernaut Corporation (Nasdaq:XYBR) today announced plans to release its first quarter 2003 financial results -- for the period ended March 31, 2003 -- on Thursday, May 15. Edward G. Newman, chairman and CEO; Dr. Steven A. Newman, president; and Thomas D. Davis, senior vice president and CFO will host a conference call starting at 8:30 am Eastern Time the same day to discuss the results. The conference call can be accessed via telephone by dialing toll free to 800/230-1951 from within the U.S. or 612/332-0335 from outside the U.S. and asking for the Xybernaut Corporation First Quarter 2003 Financial Results Conference Call. About Xybernaut Xybernaut Corporation is the leading provider of wearable/mobile computing hardware, software and services, bringing communications and full-function computing power in a hands-free design to people when and where they need it. Headquartered in Fairfax, Virginia, Xybernaut has offices and subsidiaries in Europe (Germany) and Asia (Japan). Visit Xybernaut on the Internet at www.xybernaut.com. 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," "scheduled," "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 successful production of the Company's products, general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings. CONTACT: Xybernaut Corporation Media Contact: Michael Binko, 703/631-6925 mbinko@xybernaut.com SOURCE: Xybernaut Corporation Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com 05/05/2003 09:11 EASTERN

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