WQN, Inc. to Operate Under "WebSafety, Inc."
By: WebSafety via Marketwired News Releases
WQN, Inc. (the "Company") (PINKSHEETS: WQNI) announced today that it will begin operating under the name "WebSafety, Inc." The name change will reflect the change in the direction of the Company to focus on its WebSafety software, which is designed to protect children from online predators. In addition to focusing on this software, the Company is developing additional products to allow parents to protect their children from these predators.
B. Michael Adler, Chief Executive Officer of the Company, commented, "Our business will be built around our new products. The Company's management is committed to strict corporate governance and corporate reporting will be enhanced to increase transparency. The change from WQN to WebSafety reflects a new identity for our Company that will enhance our branding efforts as we launch our new products.
Working closely with federal and state agencies, the makers of WebSafety have designed a breakthrough online predator security solution powered by the state-of-the-art alert system, Smart Alert Network(TM). Leveraging the latest in wireless technology, WebSafety expects to revolutionize the way parents can detect and prevent online predators from preying on their children. To learn more about the Company, go to our website: www.WebSafety.com.
In addition to operating under "WebSafety, Inc.," the Company also announced today that it has hired assistance to become current on its reporting obligations with the Securities and Exchange Commission. The Company's Chief Accounting Officer, John Williams, stated, "We are diligently working on bringing our financial reporting current and providing timely and reliable financial information to our shareholders. We recently engaged the services of Prolianze Group out of Sunrise, Florida to assist our management with Securities and Exchange Commission (SEC) reporting requirements and Sarbanes-Oxley Compliance. Once compliant with the SEC, we will be applying with the Financial Industry Regulatory Authority (FINRA) to move from the Pinksheets to the Over the Counter Bulletin Board as a fully reporting SEC compliant company."
The Company currently anticipates becoming current on its SEC filings in the first quarter of 2008. After it becomes current on its filings, the Company anticipates holding a stockholders meeting to vote on a permanent change of the Company's name to "WebSafety, Inc."
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the Company's products and services, the availability to the Company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow from operations and the ability of the Company to manage its operations. As statements regarding future events concern management's estimates of future results of operations, and as the estimates are based on many elements beyond management's control, differences form management's estimates may occur, and such differences may be material.
Company Contact:
John Williams
WQN, Inc.
972-361-1988 (phone)
972-980-3739 (fax)
Email Contact (email)
Investor Relations Contact:
Jack Eversull
The Eversull Group, Inc.
972-378-7917
972-378-7981
Email Contact
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