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NewMarket Technology Inc. Addresses Shareholder Concern Regarding Suspicious Stock Trading Activity and Share Price
Company 2004 Objectives Still on Track for $50 Million in Annualized Revenue in 2004 and $20 Million in Booked Revenue; Operational Profitability by Year End
Wednesday, June 23, 2004 11:26 ET
DALLAS, Jun 23, 2004 (BUSINESS WIRE) -- NewMarket Technology Inc. (OTCBB:IPVO) today released a letter to shareholders to address shareholder concern regarding the recent stock trading activity and share price of the company's stock. The letter is included in this press release in its entirety.
Dear Fellow Shareholders -
I share everyone's disappointment in the recent IPVoice share price decline. The Company has received a large number of emails and calls regarding this situation and it has been a challenge to return all the calls in a timely manner. Therefore, this communication is intended to address and alleviate the concerns we have received in email and over the phone.
The recent share price decline cannot be simply tied to any recent change in the Company's day to day operations. The Company is proceeding operationally according to the previously announced 2004 business plan. We do not anticipate stepping away from the 2004 objectives of reaching $50 million in annualized revenue by the end of this year nor realizing a total of $20 million in booked revenue for the year. We still plan to achieve operational profitability by year-end. I can think of no operational event that could account for the recent decline in share price. In fact, I believe the Company is operationally in better shape today than when the share price reached a high of $1.35 two months ago.
Like all of you, I can only speculate as to any possible external cause for the recent share price decline. There are some suspicious situations that we are investigating. In addition to addressing specific suspicions, we are also taking some general precautionary measures to counter other possible issues frequently faced by OTCBB listed companies. Our primary strategy to address the current share price decline is to stay on course and operationally grow the Company according to plan and build on the fundamentals of revenue growth and profitability. We are confident that our ongoing operational performance will in time overcome any nefarious external force otherwise negatively impacting the price per share.
Specific Suspicions
As previously announced, IPVoice has been listed on the Berlin Exchange without notice, let alone our permission. Many allegations have recently been discussed in the press regarding a possible arbitrage on the US markets leveraging stock that might not exist on the Berlin Exchange. Officials at the Berlin Exchange have acknowledged this is a possibility. Definitive evidence verifying that such an arbitrage is in fact being practiced has not yet been made public, if it exists at all. Nevertheless, we have engaged an attorney in Germany and have demanded to be de-listed. We are in communication with the appropriate parties in Germany, but as of yet our demand has not been satisfied. We are diligently continuing in our efforts to be de-listed.
While there is a belief by some in the stock trading community that conversations that take place over online bulletin boards do not really impact share price, I think I would be remiss if I did not address the vehement nature of recent allegations against IPVoice management on Terra Lycos' Raging Bull. It is suspicious that a number of individuals recently began making unfounded allegations around the same time the price per share began to decline. Many of the allegations have violated the rules set forth by Raging Bull and even created legal implications. Accordingly, the offending individuals and their posts have been deleted only to have the individual brazenly return under a new identity and begin making the same allegations, thus prompting questions as to their incentive and agenda.
The posts are clearly orchestrated to create shareholder concern. Many of the posts state information in quotation marks and claim the information is from an IPVO Corporate SEC filing when, in fact, the alarming verbiage comes from another company's filing altogether. Other posts make allegations that the Company is not in compliance with SEC rules. While the SEC has not issued any proclamation of IPVoice non-compliance, these individuals again create shareholder concern. These examples only represent a very small portion of the orchestrated efforts on Raging Bull to create fear, uncertainty and doubt. Please keep in mind, Terra Lycos does not take responsibility for the veracity of the statements, so IPVoice is limited in its ability to take action against slander. The posting individuals are anonymous and their anonymity has been protected by Terra Lycos in court, so it is also difficult for IPVoice to take action against the individuals that have made false and slanderous statements.
The Company has received a number of questions regarding these false claims on Raging Bull. So, in order to alleviate some shareholder's concerns and answer the frequently asked questions being fielded by the Company, the following information is being disseminated:
-- Please know that no one in management is selling stock or currently has plans to sell stock.
-- No registration statement is currently being considered in conjunction with any recent fundraising.
-- The Company has not issued any warrants in over two years.
-- Any warrants that might have been issued prior to two years ago, which have not expired, have an exercise price dollars above the current share price.
-- The Company has not entered into any convertible financing engagements that can convert into stock at a discount of the share price at the time of conversion.
-- The Company does not have any convertibles from financing currently eligible for conversion.
-- However, the information on Raging Bull indicating that I am a registered Republican is correct.
Counter Measures
To mitigate any potential naked short selling that the shareholders may be suffering, we have accelerated plans to change the Company's name. Accordingly, once we have confirmation from the State of Nevada regarding our name change to NewMarket Technology Inc. we will file for a ticker symbol change and a new CUSIP number. Technically, this should require brokers to exchange old certificates for new. However, in practice we do not anticipate all brokers will comply with this requirement. We do anticipate that those brokers that do comply will affect some resistance on any shorting strategy that may be impacting the current share price. All IPVO shareholders will automatically receive the same amount of shares of NewMarket Technology Inc.
We are also aggressively exploring opportunities to exit the OTCBB exchange and move to a new exchange. We are in active conversations with another US exchange and in the process of finalizing the application. The Company has always had plans to move to a higher caliber exchange, but we are now accelerating these plans in order to generate a necessary reconciliation of accounts that are naked shorting the stock. We also believe that a higher caliber exchange will mitigate our exposure in the future to naked shorting with their requirements that short interest needs to be reported and stock loan requirements are regulated.
To counter the current Raging Bull mudslinging campaign we intend to increase the frequency of our communications. We will initiate a Corporate subsidiary press campaign. The NewMarket subsidiaries are making progress everyday toward their own specific objectives. This progress is sometimes nothing more than a $5,000 sale or a standards certification. However, we believe it is important in the face of the current misinformation campaign to reassure shareholders and make certain the investment community is aware of even the small day to day progress NewMarket is accomplishing at the subsidiary level.
Again, all these counter measures are only supporting efforts to the ultimate strategy to overcome the negative external forces depressing the current price per share. Ongoing performance and fundamentals over time will win in the end. Even if the external activity proves to be illegal, it cannot overcome the Company's operational success. As we continue to meet 2004 objectives for organic growth, acquisitions and profitability shareholder confidence will improve and speculative short positions will have to cover.
Thank you for your ongoing support.
Philip Verges CEO NewMarket Technology Inc.
About NewMarket Technology Inc. (www.newmarkettechnology.com)
NewMarket (currently undergoing a corporate name change from IPVoice Communications Inc.) is a six-year-old company that has reported as a research and development concern for most of its history. In 2002, NewMarket launched a new business plan, which resulted in the Company posting six consecutive profitable quarters through 2003 and establishing an annualized $15 million in revenue. The Company is actively acquiring early-stage proprietary technology companies and financially distressed systems integration companies in specific global markets. In 2003, NewMarket acquired Infotel Technologies in Singapore and IP Global Voice, led by CEO Peter Geddis, a former Executive Vice President and Chief Operating Officer of Qwest Communications (NYSE:Q). The Company recently acquired Medical Office Software Inc., diversifying its communications technology offering into the healthcare industry. RKM IT Solutions of Caracas, Venezuela was also recently acquired as NewMarket's entry into the Latin American market.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the risks inherent in the integration of Infotel Technologies into IPVoice Communications, Inc business, the ability of IPVoice to restore and stabilize the client base of Infotel and re-establish relationships with key suppliers, the development and market acceptance of the products and services of the combined companies, demand for the telecommunication and other products and related services, domestic and foreign government spending, budgetary and trade policies, economic and political changes in the domestic and international markets where the Company competes, successful deployment of advanced technologies, competitive product and pricing pressures as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
We are also aggressively exploring opportunities to exit the OTCBB exchange and move to a new exchange. We are in active conversations with another US exchange and in the process of finalizing the application. The Company has always had plans to move to a higher caliber exchange, but we are now accelerating these plans in order to generate a necessary reconciliation of accounts that are naked shorting the stock.
NETSCO and Sun Microsystems-Turkey Present RFID Retail Inventory Tracking Solution at RFID Workshop for Major Retail Providers in Turkey
NewMarket Technology Inc. Consolidates DCI and NETSCO Subsidiaries
Tuesday , June 22, 2004 13:55 ET
DALLAS, Jun 22, 2004 (BUSINESS WIRE) -- NewMarket Technology Inc. (OTCBB:IPVO) today announced NETSCO and Sun Microsystems-Turkey participation in the "RFID Workshop" in Turkey to present RFID solutions for the future of retail supply chain applications to more than 70 major retailers. NETSCO and Sun Microsystems-Turkey presented specific RFID applications for tracking pharmaceuticals, shipping containers, as well as general retail inventory tracking and logistics. The event was featured in two premier newspapers with full-page coverage that included Sun Microsystems-Turkey and NETSCO solutions. So far, two major retailers in Turkey have entered into negotiations with Sun Microsystems-Turkey and NETSCO for pilot inventory and logistics programs using a Sun Microsystems-Turkey and NETSCO turnkey RFID solution.
NewMarket Technology recently acquired NETSCO to enhance the overall value of the Digital Computer Integration (DCI) subsidiary. NewMarket has combined the operations of the two companies into DCI-NETSCO with a primary focus on the homeland security market. DCI-NETSCO presently has military RFID applications under development. NewMarket is also cross-selling DCI-NETSCO technology offerings into other markets where security and RFID technology has application.
About NewMarket Technology Inc. (www.newmarkettechnology.com)
NewMarket (currently undergoing a corporate name change from IPVoice Communications Inc.) is a six-year-old company that has reported as a research and development concern for most of its history. In 2002, NewMarket launched a new business plan, which resulted in the Company posting six consecutive profitable quarters through 2003 and establishing an annualized $15 million in revenue. The Company is actively acquiring early-stage proprietary technology companies and financially distressed systems integration companies in specific global markets. In 2003, NewMarket acquired Infotel Technologies in Singapore and IP Global Voice, led by CEO Peter Geddis, a former Executive Vice President and Chief Operating Officer of Qwest Communications (NYSE:Q). The Company recently acquired Medical Office Software Inc., diversifying its communications technology offering into the healthcare industry. RKM IT Solutions of Caracas, Venezuela was also recently acquired as NewMarket's entry into the Latin American market.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the risks inherent in the integration of Infotel Technologies into IPVoice Communications, Inc business, the ability of IPVoice to restore and stabilize the client base of Infotel and re-establish relationships with key suppliers, the development and market acceptance of the products and services of the combined companies, demand for the telecommunication and other products and related services, domestic and foreign government spending, budgetary and trade policies, economic and political changes in the domestic and international markets where the Company competes, successful deployment of advanced technologies, competitive product and pricing pressures as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
DALLAS, Jun 21, 2004 (BUSINESS WIRE) -- NewMarket Technology Inc. (OTCBB:IPVO) today announced that their subsidiary Infotel Technologies (Pte) Ltd in Singapore has received its ISO 9001 certification renewal. Infotel has been ISO certified since 1993. The ISO 9001 Standard is an internationally recognized quality management system developed by the International Organization for Standardization (ISO). ISO 9001 assures through independent confirmation all design, product services and sales processes adhere to their rigid quality standards. ISO 9001 is a key element of NewMarket's strategy to provide competitively priced information technology resources to the emerging technology market.
"We not only want the competitively priced resources available from Asia Pacific for our own emerging technology offerings, but also as an emerging technology support service we can provide to other companies through Strategic Sourcing (www.newmarketsourcing.com)," said Dan Scofield, President of NewMarket Technology. "Our Singapore operation is a key element of our differentiated ability to provide high quality, inexpensive IT support services. Many IT departments and companies are exploring the growing number of IT support service offerings in China. However, the business culture differences between China and North America are slowing down the growth of this market. Singapore has a very Western friendly business environment with English as the country's primary language. We not only have a strong IT support operation in Singapore, but we have married the management of our Chinese joint venture with our Singapore operation. Singapore is our gateway to China for information technology resources. ISO 9001 creates a consistent standard for North American companies to work with Asia Pacific IT support services."
About NewMarket Technology Inc. (www.newmarkettechnology.com)
NewMarket (currently undergoing a corporate name change from IPVoice Communications Inc.) is a six-year-old company that has reported as a research and development concern for most of its history. In 2002, NewMarket launched a new business plan, which resulted in the Company posting six consecutive profitable quarters through 2003 and establishing an annualized $15 million in revenue. The Company is actively acquiring early-stage proprietary technology companies and financially distressed systems integration companies in specific global markets. In 2003, NewMarket acquired Infotel Technologies in Singapore and IP Global Voice, led by CEO Peter Geddis, a former Executive Vice President and Chief Operating Officer of Qwest Communications (NYSE:Q). The Company recently acquired Medical Office Software Inc., diversifying its communications technology offering into the healthcare industry. RKM IT Solutions of Caracas, Venezuela was also recently acquired as NewMarket's entry into the Latin American market.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the risks inherent in the integration of Infotel Technologies into IPVoice Communications, Inc. business, the ability of IPVoice to restore and stabilize the client base of Infotel and re-establish relationships with key suppliers, the development and market acceptance of the products and services of the combined companies, demand for the telecommunication and other products and related services, domestic and foreign government spending, budgetary and trade policies, economic and political changes in the domestic and international markets where the Company competes, successful deployment of advanced technologies, competitive product and pricing pressures as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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NewMarket Technology, Inc. Wins $1.1M Contract Signed to NewMarket Strategic Sourcing Unit; Strategic Sourcing Contract to Give Strong Finish to Second Quarter
Friday , June 25, 2004 10:33 ET
DALLAS, Jun 25, 2004 (BUSINESS WIRE) -- NewMarket Technology Inc. (OTCBB:IPVO) today announced that their Strategic Sourcing division (www.newmarketsourcing.com) has won a $1.1M dollar integration services project with a U.S.-based emerging technology company (company details withheld at customers request) that will involve assisting in the development of a data management program that will integrate product deployment information with other confidential data used in their production process.
"This is another key indicator of the success that NewMarket can produce through the integration of its subsidiary companies," stated Dan Scofield, President of NewMarket Technology. "We continue to gain momentum as customers start to see the capabilities that NewMarket can provide using our wide array of technology products and services. This project adds to an improving second quarter and will help kick off Q3 in a great way."
About NewMarket Technology Inc. (www.newmarkettechnology.com)
NewMarket (currently undergoing a corporate name change from IPVoice Communications Inc.) is a six-year-old company that has reported as a research and development concern for most of its history. In 2002, NewMarket launched a new business plan, which resulted in the Company posting six consecutive profitable quarters through 2003 and establishing an annualized $15 million in revenue. The Company is actively acquiring early-stage proprietary technology companies and financially distressed systems integration companies in specific global markets. In 2003, NewMarket acquired Infotel Technologies in Singapore and IP Global Voice, led by CEO Peter Geddis, a former Executive Vice President and Chief Operating Officer of Qwest Communications (NYSE:Q). The Company recently acquired Medical Office Software Inc., diversifying its communications technology offering into the healthcare industry. RKM IT Solutions of Caracas, Venezuela was also recently acquired as NewMarket's entry into the Latin American market.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the risks inherent in the integration of Infotel Technologies into IPVoice Communications, Inc business, the ability of IPVoice to restore and stabilize the client base of Infotel and re-establish relationships with key suppliers, the development and market acceptance of the products and services of the combined companies, demand for the telecommunication and other products and related services, domestic and foreign government spending, budgetary and trade policies, economic and political changes in the domestic and international markets where the Company competes, successful deployment of advanced technologies, competitive product and pricing pressures as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
DCI-NETSCO Enters Partnership with ServuS Information and Communication Technologies of Romania; Largest Provider of Electronic Payment Systems Expanding Into Military Sector
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High-Tech Writers / Business Editors DALLAS--(BUSINESS WIRE)--IPVO-- NewMarket Technology Inc. (OTCBB:IPVO) today announced that its subsidiary, DCI-NETSCO signed a partnering agreement with ServuS Information and Communication Technologies headquartered in Bucharest, Romania. With the recent acceptance of Romania into NATO the Romanian military is required to become compliant with all NATO standards. ServuS and DCI-NETSCO are combining resources to introduce DCI-NETSCO's specialized military and security products to the Romanian military. DCI brings extensive experience in working with the military providing mobile computing systems, digital real-time information systems, and mission critical data processing systems. "As the leading IT supplier in Romania, ServuS will assist DCI-NETSCO in competing for lucrative technology contracts valued at over EUR 60 million, or approximately $73 million. An integral part of our organic growth strategy is to build upon our expertise through local partnerships that can assist us in entering a new market. We look forward to working with ServuS and winning these already targeted contracts," stated Bud Maciekowicz, President of DCI. ServuS Romania was established in 1988 and has developed a significant market presence in Romania. ServuS is Romania's largest provider of Electronic Payment Systems and is aggressively moving into the Information Security sector. ServuS has sold and currently maintains 75% of the Point of Sale (POS) installed base and 35% of the ATM service through agreements with companies such as Diebold. About NewMarket Technology Inc. (www.newmarkettechnology.com) NewMarket (currently undergoing a corporate name change from IPVoice Communications Inc.) is a six-year-old company that has reported as a research and development concern for most of its history. In 2002, NewMarket launched a new business plan, which resulted in the Company posting six consecutive profitable quarters through 2003 and establishing an annualized $15 million in revenue. The Company is actively acquiring early-stage proprietary technology companies and financially distressed systems integration companies in specific global markets. In 2003, NewMarket acquired Infotel Technologies in Singapore and IP Global Voice, led by CEO Peter Geddis, a former Executive Vice President and Chief Operating Officer of Qwest Communications (NYSE:Q). The Company recently acquired Medical Office Software Inc., diversifying its communications technology offering into the healthcare industry. RKM IT Solutions of Caracas, Venezuela was also recently acquired as NewMarket's entry into the Latin American market. This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission. KEYWORD: INTERNATIONAL EUROPE TEXAS INDUSTRY KEYWORD: TELECOMMUNICATIONS E-COMMERCE INTERNET GOVERNMENT AEROSPACE/DEFENSE MARKETING AGREEMENTS SOURCE: IP Voice Communications Inc. CONTACT INFORMATION: NewMarket Technology, Inc., Dallas Investor Relations, 972-386-3372 ext. 211 ir@ipvoice.com www.newmarkettechnology.comwww.ipvoice.com
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