To: TokyoMex who wrote (15051 ) 11/23/1998 1:44:00 PM From: Susan Saline Respond to of 119973
TREV ... it is a cheap one (so ignore if not interested) worth a look here Monday November 23, 12:43 pm Eastern Time Company Press Release SOURCE: TREEV, Inc. TREEV Chairman-CEO Purchases 50,000 Shares in Open Market Transaction HERNDON, Va., Nov. 23 /PRNewswire/ -- TREEV, Inc. (Nasdaq: TREV - news) today reported that its chairman and chief executive officer, James J. Leto, purchased 50,000 shares of TREEV common stock in an open market transaction on Friday, November 20. ''In the third quarter, this company achieved long-awaited operating profitability on quarterly revenues of $8 million,'' notes Leto. ''In the past two years, we've dramatically improved the balance sheet, reorganized our operations, launched a new, patented product suite, and upgraded our sales and marketing activities. We're now poised to capitalize on an enormous market opportunity: the storage and content management of multiple data types.'' In May, TREEV announced an organizational restructuring that would reduce annual costs by $4.8 million. Leto announced, as part of the restructuring effort, that he would reduce his salary by 50 percent in exchange for company stock options. Leto adds, ''I believe that the quality of our products, our financial turnaround and the evolution of our infrastructure are not reflected in the price of our stock. I am more convinced than ever that our core technology and the potential of the market have yet to be fully discovered.'' TREEV® is a leading developer and marketer of integrated document management solutions. The Company's integrated software suite allows businesses to quickly and easily build or customize client/server and Web- based document management applications. TREEV's standards-based component architecture consists of four core technologies: DocuTREEV™ (imaging), DataTREEV™ (COLD), AutoTREEV™ (workflow) and OmniTREEV™ (document management). Built on its award-winning patented object management technology, the TREEV suite of software products extends a company's investment in legacy and client/server applications by providing users with flexible, cost-effective document management solutions. The Company's software is marketed through partners such as Sybase, Lockheed Martin, ALLTEL, EDS and Intergraph Corporation. ''Safe Harbor'' statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward looking statements that involve a number of risks and uncertainties. Although the Company has used its best efforts to be accurate in making these forward looking statements, it is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition to those factors, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the computer industry and general economy; competitive factors; ability to attract and retain customers; ability to attract business partners and maintain and increase their levels of sales and marketing; ability to attract and retain personnel, including key management personnel; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-K and its quarterly reports on Forms 10-Q.