4net Software Terminates Letter of Intent to Acquire Privately Held Software Company.Business Editors RIDGEFIELD Ridgefield. 1 Residential town (1990 pop. 20,919), Fairfield co., SE Conn.; inc. 1709. Industries include nurseries, pharmaceuticals, and electronic research. The battle of Ridgefield (Apr. , Conn.--(BUSINESS WIRE)--Sept. 17, 2001 Today, 4net Software, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: FNSI FNSI Federazione Nazionale Stampa Italiana FNSI Finding of No Significant Impact FNSI First Nations Statistical Institute (Canada) ) announced that it terminated a letter of intent to acquire a privately held, software company based in the Southwest USA (the "Acquisition Target"). 4net Software plans to continue with its business plan to pursue profitable niche software companies for acquisition. "The Acquisition Target has been impacted by the recent decline in the economy and sustained a material decrease in revenues and earnings," said Steven N. Bronson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of 4net Software. Mr. Bronson stated that "4net Software will not close on an acquisition unless it meets our specific criteria." 4netSoftware plans on entering into an agreement with the Acquisition Target to market 4net Software's best-of-class Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the content management solution, 4netManager(TM) and other associated Internet services offered by 4net Software to the customers of the Acquisition Target. About 4net Software, Inc. 4net Software, Inc. (OTC BB: FNSI), (http://www.4netsoftware.com/) is engaged in acquiring, managing, and operating niche software and Internet solution companies. 4net Software's objective is to offer businesses a platform of software related products and services. In addition to providing management and financial support, 4net Software also actively develops business strategies, operations, and management teams for its acquired companies. Currently, 4net Software Inc. provides content management software and develops business-critical Web sites. The company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , 4netManager(TM), seamlessly bridges the gap between content creation and content delivery by giving non-technical users the ability to update and maintain their own Web site content. The functionality of 4netManager(TM) minimizes the cost of Web site maintenance and improves the process of sustaining a dynamic online presence. Certain of the statements contained herein are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Factors that could contribute to the uncertainty of forward-looking statements include, but are not limited to, competition for acquisitions, successful integration of acquired companies, general economic factors and the ability to obtain financing. 4net Software, Inc. undertakes no obligation to update publicly any forward-looking statements. |
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