NewMarket Technology, Inc. Town Hall Meeting Focused on Recent Increase in Spin-off Activity and Financials
Monday December 11, 10:16 am ET
Record Revenue Quarter and Improved Net Income Highlighted
DALLAS--(BUSINESS WIRE)--NewMarket Technology, Inc. (OTCBB:NMKT - News) released an overview of the company's recent Town Hall meeting last week which highlighted the company's momentum towards meeting the long-awaited goals of publicly listing a number of subsidiaries, yet still retaining a majority interest to maintain consolidated financial reporting and provide long-term capital gain potential for shareholders.
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During the meeting, CEO Philip Verges announced the signing of a letter of intent (LOI) to acquire a majority interest in Silicon Aquarius, Inc., a telecom technology firm headquartered in Richardson, Texas with 23 Patents issued between Nov. 10, 1998, and Nov. 21, 2006 (Silicon Aquarius, Inc. Patents). Texas Instruments' patent portfolio has been the beneficiary of the technological innovation from the expertise and talent now at Silicon Aquarius. As noted by Mr. Verges, "The transaction underway between Silicon and NewMarket is a strategic combination of intellectual property, engineering, marketing, financial investment and embedded development resources through NewMarket's established partnerships in China. The addition of Silicon Aquarius will extend NewMarket's emerging technology reach and depth by substantially jump starting an intellectual property inventory of technologies with multiple applications in multiple industries." Significantly, Silicon Aquarius believes there are a number of patent infringement cases that can be pursued.
NewMarket's recent independent listing of its consolidated operation in China with a 2007 revenue forecast of $40 million, NewMarket China, Inc., currently listed as Intercell International Corporation (OTCBB:IICP - News) was discussed at the Town Hall, along with the intent to convert the company's preferred stock with anti-dilutive provisions at a later date to facilitate a dividend distribution of IICP shares to NMKT shareholders. The presentation also reviewed the pending transaction with Paragon Financial Corporation (OTC:PGNF - News), which is planned to be renamed NewMarket Latin America with $20 million in revenue and booking a profit. Lastly, the recently announced LOI with Diamond I, Inc. (OTCBB:DMOIE - News) was included in the presentation on the strategic benefits of the transaction with the WiFi and Wireless Gaming firm. David Loflin, CEO of Diamond I, told shareholders that the "E" currently appended to the Diamond stock symbol will be removed this week due to its pending financial filing.
Mr. Verges indicated that NewMarket was intent upon completing the announced transaction as soon as possible in order to advance the company's business plan to eventually provide dividends to NMKT shareholders in the form of stock dividends of the consummated consolidated subsidiary spin-offs. Mr. Philip Rauch, CFO, presented the company's financials and highlighted the company's record revenue quarter announced for third quarter 2006 and the company's turnaround in net income. Mr. Rauch also noted that shareholder's equity exceeds $42 million as of the company's last 10-Q.
Ms. Pat Robinson from the City of New Orleans Department of Economic Development presented on the city's many rebuilding initiatives, to include both economic incentives for companies and assistance to individuals effected by Katrina and the subsequent failure of the levee system.
The video of NewMarket's Town Hall meeting in New Orleans last week will be available on the Company's website by Thursday, December 14. The Power Point Presentation from the NewMarket Town Hall meeting is available by contacting ir@newmarkettechnology.com.
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 - News), Cisco Systems (Nasdaq:CSCO - News), SAP (NYSE:SAP - News), Siebel (Nasdaq:ORCL - News) and Sun Microsystems (Nasdaq:SUNW - News). 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.
