Boundless Corporation Announces Share Repurchase Plan.Business & Technology Editors HAUPPAUGE, N.Y.--(BUSINESS WIRE)--July 17, 2000 Boundless Corporation (AMEX AMEX See: American Stock Exchange : BND BND In currencies, this is the abbreviation for the Brunei Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) today announced that is Board of Directors has authorized a program to purchase up to $1 million of its common stock. The shares may be purchased from time to time in open market transactions, depending on price, availability and the Company's cash position. Implementation of the share repurchase plan share repurchase plan A corporation's plan for buying back a predetermined number of its own shares in the open market. Institution of a share repurchase plan derives from management's view that the company has limited outside investment opportunities and will require the consent of the Company's lenders and the actual number of shares to be purchased will be determined by the Company's Board of Directors, from time to time, subject to, among other things, market conditions at the time of the transactions. J. Gerald Combs, Chairman and Chief Executive Officer of Boundless Corporation stated, "Our Board took this action because they believe the Company's shares are significantly undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. and represent excellent value at current price levels and reflects their continued confidence in the Company's future." ABOUT BOUNDLESS Boundless is a global technology company with over $80 million in annual revenue focused on developing, manufacturing and distributing hardware and software products that make accessing information on the Internet and centralized servers easy, fast and cost-effective. Core competencies include state-of-the-art ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9002 manufacturing facilities, build-to-order, same day shipping and customer specific customizations. Boundless offers in-house engineering expertise and an extensive design library to significantly decrease time-to-market for OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers, which include Lucent Technologies, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Wang Global, NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers , the Tandem and Digital Divisions of Compaq Computer, Hewlett-Packard and Stratus Computer. Merinta, Inc. (www.merinta.com), headquartered in Austin, TX, provides the software that powers and manages Internet Appliances. The iBrow(TM) Solution is an end-to-end software platform positioned to offer end-users and easy, enjoyable and visually rich internet browsing experience while providing companies with a revolutionary way to market and grow online business. The iBrow Solution software is hardware-and O/S-independent and is the most flexible IA platform on the market. The iBrow also features remote management software that allows the end-user interface and content to be upgraded as needed. Boundless Manufacturing Services is an emerging EMS company providing build-to-order (BTO BTO British Trust for Ornithology BTO Business Technology Optimization BTO Bachman Turner Overdrive (band) BTO Business Transformation Outsourcing BTO Build-Transfer-Operate BTO Brutto (German: Gross [quantity]) ) manufacturing as well as a complete end-to-end solutions from design through product end-of-life to its customers. Headquartered in Hauppauge, New York Hauppauge (pronounced /hɔpɔg/) is a hamlet in the Town of Islip and the Town of Smithtown in Suffolk County, New York, United States. engineering capabilities are found there and in Austin, Texas. Additional sales and distribution offices can be found throughout North American, Latin America, Europe, Asia and Australia. For more information, visit the Boundless web site at http://www.boundless.com, or call 1/800-231-5445. Editors: All company/product names and service marks may be trademarks or registered trademarks of their respective companies. Except of the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, changing economic conditions and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission. |
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