Bridge Technology, Inc. Sells Its Power Supply Business.Business Editors GARDEN GROVE Garden Grove, city (1990 pop. 143,050), Orange co., S Calif., a suburb of Long Beach and Los Angeles, on the Santa Ana River; founded 1877, inc. 1956. Many of its residents work in nearby aerospace and defense installations, and there is light manufacturing. , Calif.--(BUSINESS WIRE)--April 25, 2003 Bridge Technology, Inc. (Nasdaq Small Cap Market:BRDGE BRDGE Bridge ), a data storage and communication components distribution Company, announced today the sale of its power supply business. The Board of Directors of Bridge Technology, Inc. unanimously approved an agreement reached on April 21, 2003, between the Company and Wantec Power Systems Co, Ltd. and Winston Gu for the sale of the Company's subsidiaries Autec Power Systems, Inc. and Bridge Technology, Co., Ltd., Ningbo, China for 1,270,000 shares of Bridge Technology, Inc. common stock owned by Winston Gu. The effective date is December 31, 2002. This divestiture had been previously unanimously mandated by the Company's Board of Directors and will be presented to the shareholders for ratification at the Annual Shareholder Meeting in mid-May. About Bridge Technology, Inc. Bridge Technology, Inc. is a "time-to-market" Company that distributes digital recording, storage, and communication components and sub-assembly units, primarily to long standing 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. The Company operates through subsidiaries in 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 Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. . More information on Bridge Technology, Inc. may be obtained over the Internet at www.bridgeus.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under 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: The statements contained in this release, which are not historical facts, may be deemed to contain forward-looking statements including, but not limited to, deployment of new services, growth of the customer base, and growth of the service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing, or other factors. Deviation may result from risk and uncertainties, including, without limitation, the Company's dependence on third parties, market conditions for the sale of services, technical factors affecting networks, availability of capital, and other risks and uncertainties. The Company disclaims any obligation to update information contained in any forward-looking statement. |
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