CORRECTION FROM SOURCE: T & G2, to Date, Buys Back More than 250,000 Shares as Part of a 2,000,000 Stock Repurchase Program.Business Editors BERKELEY HEIGHTS, N.J.--(BUSINESS WIRE)--Feb. 11, 2003 T & G2 (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TTGG) In the news release transmitted on February 10, 2003 for T &G2, there was an error in the third paragraph. The complete and corrected release follows: T & G2 (OTCBB:TTGG) announced today that the company has repurchased more than 250,000 shares of its own stock from the market. The Board of Directors authorized the repurchase of up to 2,000,000 of TTGG Class A Common Shares (see press release of Dec 17, 2002). TTGG will continue to repurchase shares from time to time on the open market. TTGG began to repurchase the shares in early January of this year. The repurchase of shares will be an ongoing process and will continue for some time. In the year 2002, TTGG experienced some unexpected delays with the installation of its Bingo units. This appears to be behind us now and was one of the factors in management's decision to repurchase shares from the market. James M. Farinella, 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 T & G2 stated "Management believes the current share price of TTGG represents an attractive investment for the Company and by no means indicates an intent to go private." Mr. Farinella went on to say, "The stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program also reflects management's strong outlook and confidence in the Company going forward. The current stock buy back which has been initiated is also designed to help provide support for our public stockholders." Mr. Farinella went on to further say "Many companies announce such buy backs and never follow through. We have and will!" T & G2 has two wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. : Solutions Technology and Zingo Sales Ltd. Solutions Technology is the developer of the SecureTime Biometric ID System. The SecureTime System utilizes biometric fingerprint technology to positively ID individuals. Unlike other systems, there is no upfront capital expense for the customer, very little retrofit ret·ro·fit v. ret·ro·fit·ted or ret·ro·fit, ret·ro·fit·ting, ret·ro·fits v.tr. 1. To provide (a jet, automobile, computer, or factory, for example) with parts, devices, or equipment not in to install the terminal and the Company provides for the risk free opportunity for the customer to see how the Biometric system will benefit their operations and save them money. Zingo Sales, through a license arrangement, has the most advanced software in the electronic bingo market today. The bingo halls and casinos love the system because they can now charge for additional bingo cards Bingo cards are used to play various bingo games, including U.S. style bingo and UK style Housie. Cards are usually made of cardboard or non-reusable paper, but more and more bingo halls are beginning to use computerized cards. played without the additional cost of paper. Another reason the demand is so great for this system is that there are other games (Ultimate), which can be played during and between each bingo session generating additional revenue for the casino/bingo operator. 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 provides a 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. for 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. made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by T & G2 (TTGG) may differ materially from these statement due to a number of factors. TTGG assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions. |
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