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Biotech / Medical : OCGT again -- Ignore unavailable to you. Want to Upgrade?

To: Troll who wrote (154)	2/21/1998 1:00:00 AM
From: tom terry	Read Replies (1) \| Respond to of 283

Latest News Release: NEW YORK, Feb. 20 /PRNewswire/ -- OCG Technology, Inc. (the "Company")(OTC Bulletin Board: OCGT) announced that a Nasdaq Listing Panel, citing a failure by the Company to meet the $1.00 market price per share listing requirement, removed the Company's securities from the Nasdaq Small Cap Market effective with the close of business on February 18, 1998. The Company's securities are now trading on the OTC Bulletin Board. The Panel advised that the Nasdaq Listing and Hearing Review Council may, on its own, review the Panel's determination, and, in any event, the Company itself may request a review of the Panel's determination. The Company intends to seek such review. The Company exceeds, by a substantial percentage, all Nasdaq financial and other requirements for listing on the SmallCap Market. The Company believes it is important that our shareholders, our customers and the investing community be aware of the Company's business activities and financial position. The Company has recently started marketing the Windows 95/NT version of its PrimeCare(TM) Patient Management System (the "PrimeCare System") after successfully completing a two year migration effort from the MS-DOS environment. The PrimeCare System continues to be well received by physicians, their staffs and their patients. The software is currently undergoing evaluation trials with several significant users. The Company's current marketing efforts continue to generate additional sales and significant interest throughout the health care industry. In addition, Michael G. Eckstein, recently appointed as Executive V.P. of Operations for the Company, expects shortly to announce an aggressive reseller and dealer program on a national basis. "With over 20,000 value-added resellers in the medical marketplace, we will be recruiting the most successful dealers to be our business partners. Given the compatibility of the PrimeCare System with any billing or management system now in a physician's office, we expect widespread acceptance of our channel distribution plans," Mr. Eckstein advises. The Company will increase its marketing efforts as it launches its reseller programs. Revenues from increased sales and market penetration are expected to generate considerable profit. Inclusive of demand notes, the Company has cash on hand as of February 19, 1998 in excess of $1,000,000. With the Company's cash burn rate approximating $80,000 per month, the Company's financial condition is on a sound footing. Although the Company considered a reverse split to meet the $1 minimum bid price, it concluded that it was not in the best interests of the Shareholders. The Company believes that its balance sheet strength, coupled with increased product acceptance and the launching of its value-added reseller program, will result in significant earnings which should be reflected in the market price of its stock. "Safe Harbor" Statement: The statements that are not historical facts contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including, but not limited to, the risks of uncertainty of patent and/or copyright protection, possible technological obsolescence, competitive action by other companies and other risks detailed in the Company's Securities and Exchange Commission filings. SOURCE OCG Technology, Inc. /CONTACT: Jeffrey P. Nelson, Secretary of OCGT, 212-967-3079; or Investor Relations, Keith Fetter of Piedmont Consulting, 404-233-6999, for OCGT/ /Web site: http:www.pcare.com/ (OCGT)