Celerity Systems Announces Termination of Agreement with WIT Technologies.Business Editors & Technology Writers KNOXVILLE, Tenn.--(BUSINESS WIRE)--Sept. 19, 2001 Celerity ce·ler·i·ty n. Swiftness of action or motion; speed. See Synonyms at haste. [French célérité, from Old French, from Latin celerit Systems, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CLRT CLRT Continuous Lateral Rotation Therapy CLRT Command Logistics Review Team CLRT Cranial Laser Release Technique ) announced today that it has terminated its agreement with WIT Technologies. Under this agreement, WIT had planned to utilize Celerity's equipment and services to provide a comprehensive product to the hotel industry. Celerity did not receive any orders for products or services under this agreement. Celerity Systems is a provider of advanced digital set top boxes and video servers for interactive television and high-speed Internet. Key markets include multihousing, schools, energy companies, hospitality, hospitals and assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. , telcos, and corporate applications. Celerity can also provide end-to-end systems through its relationships with leading technology companies. Celerity also provides content for entertainment and education applications. 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 which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. |
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