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NewMarket Technology, Inc. to Increase 2007 $120 Million Revenue Forecast and Independently List Additional Subsidiary with Alternet Systems, Inc. and TekVoice Merger
DALLAS --(Business Wire)-- NewMarket Technology, Inc. (OTCBB: NMKT) today announced a letter of intent (LOI) agreement between its affiliate TekVoice Communications and Alternet Systems, Inc. (OTCBB: ASYI) whereby the assets of the two companies will be combined to deploy Voice over Internet Protocol (VoIP) and wireless broadband telecom networks throughout Latin America. NewMarket has owned a minority interest in TekVoice for several years and recently announced plans to acquire a majority interest in Tekvoice. The NewMarket acquisition of TekVoice and the combination of TekVoice and Alternet Systems will result in an additional independently listed NewMarket subsidiary. The financial forecast associated with the acquisition of Tekvoice and the combination of TekVoice and Alternet Systems has not yet been considered regarding NewMarket's current 2007 $120 million profitable revenue forecast. NewMarket will increase its 2007 forecast as a result of the TekVoice and Alternet Systems transaction.
NewMarket Award-Winning Strategy for Rapid Revenue Growth
NewMarket Technology ranked fifth on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. This is the third consecutive year that NewMarket has been ranked on Deloitte's Technology Fast 500. NewMarket Technology continues to maintain a rapid growth rate expecting to report $70 million in revenue in 2006 and $120 million forecasted in 2007.
The BreakAway Investor Issues a "Buy" recommendation on NewMarket
The BreakAway Investor of the Taipan Financial Network issued a "Buy" recommendation on NewMarket Technology. The independent research report recommends "Buy shares of NewMarket under 45 cents per share...Shares won't be hanging below $1.00 for too much longer." The BreakAway Investor investment report on NewMarket Technology is accessible at www.taipanfinancialnews.com/redhotstockpick0307.html.
Beacon Equity Research Reports NewMarket as "Outperform" Recommends $0.78 PPS
Separately, Beacon Equity Research issued an independent analyst report rating NewMarket as an "Outperform" with a fair market value of $0.78. The report was issued during the fourth quarter of 2006 and did not take into consideration the recent independent listing of consolidated subsidiaries. The research report is available at www.beaconequityresearch.com.
Strategy to Independently List Subsidiaries and Issue Stock Dividends
The independent listing of NewMarket subsidiaries is an integral part of the Company's overall growth strategy and central to NewMarket's plan to enhance shareholder value. NewMarket independently listed subsidiaries can utilize their own public stock to acquire and fund further emerging technology growth without relying on NewMarket stock for financing the growth. Concurrently, NewMarket's financial performance benefits from the rapid growth of consolidated self funding subsidiaries. NewMarket shareholders can directly monetize the investment that NewMarket has made in its subsidiaries' assets when NewMarket distributes stock in the independently listed subsidiary operations to NewMarket shareholders through dividend distributions.
Independently Listed China, Latin America and Broadband Wireless Subsidiaries
NewMarket now has three independently listed subsidiaries. NewMarket recently announced the completion of a transaction with Diamond I, Inc. (OTCBB: DMOI) to effectively list NewMarket's Broadband wireless operations with a 2007 forecast of $10 million. NewMarket also recently announced the completion of a transaction with Paragon Financial Corp. (OTC:PGNF) to effectively list NewMarket's Latin America operations, which are expected to report over $20 million in 2006 profitable revenue. In the fourth quarter of last year, NewMarket completed the independent listing of its operations in China. The operations name has recently been changed to NewMarket China, Inc. (OTC BB: NMCH). The operations consolidated into NewMarket China are anticipated to report 2006 revenue substantially exceeding $20 million with a 2007 forecast of $40 million in revenue. The Diamond I and Paragon names will similarly be changed shortly to reflect each company's new direction within the NewMarket fold. NewMarket intends to issue stock in each of these three subsidiaries to NewMarket shareholders through dividend distributions over the next 12 to 18 months.
To be added to NewMarket's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@newmarkettechnology.com.
About Alternet Systems
Alternet Systems Inc. has developed state-of-the-art application and network software for broadband systems in rural communities and health and educational institutions around the globe. Alternet's application and network server software operates at the center of a broadband wireless Internet system, positioning the Company to capitalize on the rapid growth of wireless Internet networks.
About TekVoice Communications Inc.
TekVoice Communications, Inc. is a Voice over IP telecommunications company that since 2002, offers convergent voice and data services over IP networks. With sales of over $3 million in 2006, and growing quickly, it has capitalized on its in-depth knowledge of the Hispanic and Latin American market, the quality of its telecommunications network and the dramatic cost savings that the network delivers to its customers. As a pioneer in the VoIP industry, TekVoice has been at the leading edge in the design and deployment of new products and services for the corporate and residential markets. TekVoice Communications, Inc. is a U.S. corporation with offices in Miami, Dallas, Caracas, Venezuela and Lima, Peru.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket helps clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions to include Microsoft (Nasdaq: MSFT), Cisco Systems (Nasdaq: CSCO), SAP (NYSE: SAP), Siebel (Nasdaq: ORCL) and Sun Microsystems (Nasdaq: SUNW). Concurrently, NewMarket continuously seeks to acquire undiscovered emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions. NewMarket delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore. NewMarket maximizes shareholder return on investment by independent listing of consolidated regional and emerging technology subsidiaries in order to issue subsidiary stock in shareholder dividends.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
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