Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Veronex Technologies Inc. (VXTK) -- Ignore unavailable to you. Want to Upgrade?

To: michael d kugler who wrote (93)	10/29/1997 1:20:00 AM
From: Tony C.	Read Replies (1) \| Respond to of 684

Tuesday October 28 8:24 PM EST Company Press Release Veronex Announces Earnings Veronex Announces First Revenues from Software Sales IRVINE, Calif.--(BUSINESS WIRE)--Oct. 28, 1997--The board of directors of International Veronex Resources Ltd. (Veronex) (OTCBB:IVXR - news) Tuesday announced the results of its second fiscal quarter. Veronex reported a net loss of $59,000 ($0.01 per share) for the three months ended Aug. 31, 1997 as compared to net income of $544,000 ($0.10 per share) for the same period of 1996 on revenues of $40,000 and $132,000 respectively. For the six months ended Aug. 31, 1997 and 1996 Veronex reported a net loss of $129,000 ($0.02 per share) as compared with a net income of $330,000 ($0.07 per share) on revenues of $40,000 and $132,000 respectively. The month of August 1997 marked the receipt of revenues for the first time from Veronex' new business in the computer software sector. These $40,000 in revenues were from the continuing sales of specialty software and support services by the company's wholly owned subsidiary Mainstream Technologies. The revenue and net income during fiscal 1996 was the result of some one-time lawsuit settlements and revenues from the company's prior business activities and are not really representative of the company's future potential. ''These first cash flows from the initial sale of the company's software products are an indication of Veronex's strong growth potential,'' said David A. Hite, chairman and chief executive officer of Veronex. ''We anticipate achieving a leadership position in the Year 2000 solution marketplace and establishing our AIM System software development suite as the software of choice for repairing, engineering and re-engineering computer software applications.'' International Veronex Resources designs, develops, markets and supports computer software products for a wide variety of uses, including database management, application development and business applications. The company's automated information management system (the ''AIM System'') is a fully integrated business application engineering and re-engineering toolset. The AIM System includes the proprietary DataCentric Analyzer. Veronex is awaiting patent approval for the DataCentric Analyzer. The AIM System with its DataCentric Analyzer toolset has the unique ability to: -- Re-engineer COBOL and Assembler based legacy source code systems; -- Standardize data definitions within COBOL and Assembler based legacy source code systems; and -- Locate and repair Year 2000 problems in COBOL and Assembler based legacy source code systems. -0- The main benefit to corporate users of Veronex's technology is the ability to recapture the costs, often within the first year, of re-engineering and repairing Year 2000 problems in their legacy systems. By re-engineering and reducing the volume of source code in legacy systems, Veronex estimates that annual routine maintenance costs can be reduced by 20 to 50 percent. These maintenance costs reductions provide a continuous return on investment for years to come. The Mission of Veronex is to become the software provider of choice for the New Millenium with the AIM System toolset. The AIM System's unique features provide users of mainframe computers, minicomputers and microcomputers with more flexibility and responsiveness than other available computer application development and business applications programs. The option of re-engineering current applications is easily accomplished with the AIM System. Contact: International Veronex Resources David A. Wooldridge, 714/253-9600 Fax: 714/253-9677