Appiant Technologies Announces Recent Corporate Restructuring Efforts to Enhance Financial Performance.Business Editors Appiant Technologies, Inc. (Nasdaq:APPS), a leader in unified communications The real time redirection of a voice, text or e-mail message to the device closest to the intended recipient at any given time. For example, voice calls to desk phones could be routed to the user's cellphone when required. , announced today that it has just completed a company-wide restructuring that has created the opportunity for the Company to achieve positive cash-flow more rapidly. This restructuring initiative provided for Intermedia Intermedia - A hypertext system developed by a research group at IRIS (Brown University). Technologies, Inc. of Reno, Nevada to acquire certain assets of VoicePlus, a legacy division of Appiant providing support and maintenance to installed voicemail systems. In exchange for registered trademarks, use of the VoicePlus' customer list and certain assets, the terms and conditions of the asset purchase provide for Appiant to be relieved of certain debts and obligations and for five Appiant employees to be outplaced and available for hire by Intermedia. In addition, Appiant has reassigned certain job responsibilities and subsequently released 10 U.S.-based employees. Collectively, this initiative has positioned Appiant to reduce its monthly expenses associated with salaries, benefits and affiliated costs by approximately $150,000, representing a significant reduction in monthly overhead. Moreover, this cost-reduction positions the Company to require less than 30,000 inUnison(SM) subscribers to reach cash-flow breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations . Previously, Appiant reported that it would need 40,000 subscribers to achieve comparable results. Doug Zorn, 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 Appiant, stated, "This latest restructuring initiative will help us to firmly attack our growth objectives while enabling us to strengthen our financial outlook. Unified communications is fast becoming synonymous with synonymous with adjective equivalent to, the same as, identical to, similar to, identified with, equal to, tantamount to, interchangeable with, one and the same as efficient business practices, and Appiant intends to play a leading role in its continued industry emergence. In order to do so, focused attention must be placed on allocating and combining our human, intellectual and financial resources to promote rapid growth. This step, along with other ongoing initiatives, will help to boost the effectiveness and efficiency of these resources." About Appiant Technologies, Inc. Appiant Technologies, Inc., (Nasdaq:APPS), is a leading Unified Communications Unified Information (UC/UI) software development company, delivering next generation UC applications. Its inUnison(SM) portal enables Service Providers, and Enterprises to offer tools to manage all telephone, email, voice mail, facsimile, and notification needs in real-time anywhere, anytime and in a highly personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. manner using virtually any communication device such as a PC, PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). , telephone, or cellular phone. Appiant's enabling technologies include a speech recognition engine that provides seamless access to its inUnison distributed portal architecture, allowing information integration from multiple sources. Appiant is a member of the Cisco New World Ecosystem partner program and has been designated a Cisco Powered Network member. Appiant is headquartered in Pleasanton, Calif., and has offices throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and abroad. More information available at http://www.appiant.com. This press release contains 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. that involve risks and uncertainties concerning Appiant's expected financial performance (as described without limitation in the business outlook and quotations from management in this press release), as well as Appiant's strategic and operational plans. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the slower spending environment for communication services; the actual increases in demand by customers for Appiant's services; general economic conditions; the ability to adjust to changes in personnel, including management changes; and the dependence on third parties for technology, content and distribution. All information set forth in this release is as of June 3, 2002, and Appiant undertakes no duty to update this information. More information about potential factors that could affect the company's business and financial results is included in the company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended September 30, 2001 including (without limitation) under the captions, "Risk Factors" and "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations," which are on file with the Securities and Exchange Commission (the "SEC") and available at the SEC's website at http://www.sec.gov. Additional information will also be set forth in those sections in Appiant's subsequent Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. . |
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