CaminoSoft Corp. Receives $462,500 for Settlement of Antitrust Claims and Reports Results for Q1 FY 2001.Business Editors WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--February 23, 2001 CaminoSoft Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CMSF CMSF Canadian Merit Scholarship Foundation CMSF Canada Millennium Scholarship Fund CMSF Chief of Mission Systems Flight CMSF Congregation of the Missionaries of St Francis ) announced today that it has received $462,500 from Seimens Corporation in settlement of an antitrust claim. The Company also announced that for the first quarter of 2001, the Company incurred an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $855,948, compared to an operating loss of $245,660 for the first quarter of 2000. Sales for the quarter remained unchanged from the comparable quarter. CaminoSoft's selling and administrative expenses increased 134% to $411,600 over the comparable period as a result of staff additions in sales, marketing, product development and service. Throughout the quarter the Company continued to focus its attention on the completion of the development of its transparent data storage systems including the Company's Highway Server(TM) suite of application software and the T-Rex (TM) appliance. The Company is currently in Alpha and Beta testing (programming) beta testing - Testing a pre-release (potentially unreliable) version of a piece of software by making it available to selected users. This term derives from early 1960s terminology for product cycle checkpoints, first used at IBM but later standard throughout the of its recently completed NT and Windows 2000 compatible data storage systems, and expects to be ready to ship these products during the current fiscal year. During the current quarter ended December 31, 2000 the Company received $1.5 million from the private placement of 500,000 shares of restricted common stock to a fund affiliated with the Company's largest shareholder. At December 31, 2000, CaminoSoft had approximately $2.9 million of cash and cash equivalents an increase in its cash position of $755,000 from September 30, 2000. This amount does not include the funds from the Siemens settlement. Walter Kornbluh, Chairman 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. remarked, "the completion of the first quarter marks a significant step in CaminoSoft's transition from a development stage company to one which will become driven by marketing and sales. With the development of the Company's suite of products, the many markets formed as a result of the different operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. currently in commercial use (Unix, Linux, Windows 2000, NT, Novel, Windows 98) will be open to us, with the assistance of our newly formed Advisory Board, we are poised to take advantage of these opportunities." About CaminoSoft www.caminosoft.com, is a creator of proprietary hardware and operating software solutions designed to store and manage the vast quantities of data constantly created in a wide range of businesses and industries which are required to maintain and access that data. CaminoSoft's Highway Server enterprise data migration software has enabled corporations worldwide to effectively mange mange (mānj), contagious skin disease of domestic and wild animals. The several types of mange, including follicular and sarcoptic mange, are caused by various minute parasitic mites that burrow into skin, hair follicles, or sweat glands. their data and maintain high availability Also called "RAS" (reliability, availability, serviceability) or "fault resilient," it refers to a multiprocessing system that can quickly recover from a failure. There may be a minute or two of downtime while one system switches over to another, but processing will continue. at low cost with a quick return on investment. The T-Rex line of data management appliances is designed to serve the burgeoning needs of global e-commerce and the digitizing of business processes. This release may contain forward-looking statements that reflect the management's current views of future events and operations. These forward-looking statements are based on assumptions and external factors, including assumptions relating to regulatory action, capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. and competing products. Any changes in such assumptions or external factors could produce significantly different results. |
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