CNC Looks Forward to a Promising 2004.Business Editors MONTREAL--(BUSINESS WIRE)--Dec. 11, 2003 Mr. Robert Egery, President and COO of Central Network Communications (CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication ) Inc., today provided a general business update in light of current and upcoming developments with the Company: Notwithstanding a tough year that saw a change of government in Quebec with attendant delays in customer orders, there have been a number of developments at CNC that have us very optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the year to come. Firstly, regarding "Pyramid" our case cost management solution, implementation of our first contracts at two Quebec hospitals, St. Jerome and Sacre-Coeur, has proceeded extremely well. Not only did these contracts provide us with an order backlog of $1.8M, but they will also soon present an all-important technology showcase for other customers in Quebec and beyond. Conservatively, we anticipate a near-term market potential of over $8M in Quebec alone over the next 6-18 months. On a side-note, we also introduced Pyramid in France earlier this year where it has significant potential in their private health system. We are also nearing completion of our new human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. management product "WinTime" for the Centre-Hopitalier Anna-Laberge as part of our partnership with them. This represents a major achievement in developing software for a complex application in healthcare - a critical work environment with over 200 union contracts. Recently, we announced our intention to acquire CIHC CIHC Center for International Health and Cooperation BIODEV Inc., a firm specializing in building marketing and technology transfer partnerships in the human and animal biotechnology sector. Potential for this Life Sciences business, starting with major agreements between partners in Canada, the US and Brazil, is enormous. Revenues are expected to begin in the first part of 2004. I should mention that we have been very successful in raising capital required to continue to build the business foundation and sustain our growth plans. We expect to employ this capital to make incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. investments into our longer-term strategies both corporately and in expanding our product offering. At the same time, we have taken steps to dramatically reduce our costs and to rationalize our operations and product offerings. This will be a continuing process. Moving forward, we will also be instilling in·still also in·stil tr.v. in·stilled, in·still·ing, in·stills also in·stils 1. To introduce by gradual, persistent efforts; implant: "Morality . . . key policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental in conformance with the prospect of moving to a more senior exchange during early 2004. We expect to be making formal announcements on this matter shortly. As news becomes more concrete, our public and investor relations Investor relations The process by which the corporation communicates with its investors. initiatives will increase as we work to build the Company's financial visibility and attain its deserved value. So overall, the situation at CNC is very strong today and I trust you will sense the excitement and energy in the Company as we boldly move forward to strengthen our competitive advantage, meet our financial objectives and create maximum return for our shareholders. About Central Network Communications (CNC) Inc. Central Network Communications Inc. develops and markets proven, innovative management solutions for the Healthcare sector. Headquartered in Montreal, Central Network Communications is a public company listed on the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Other market under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors CNCW. For more information, visit www.cncinc.ca. CNC's Safe Harbour Statement Except for any historic information contained herein, the matters discussed in this press release contain 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, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to 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. created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward looking statements". Forward looking statements in this release may be identified through the use of such words as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors. |
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