Colmena Corporation Announces Completion of Acquisition of NetWorth Systems, Inc.FORT LAUDERDALE, Fla. -- Colmena Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CLME), a Delaware Company, stated that it had completed its widely expected merger with NetWorth Systems, Inc. Mr. L. Joshua Eikov, NetWorth's Chairman, 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. and newly appointed Colmena President and CEO said, "The last year has been nothing short of extraordinary for NetWorth Systems and its stakeholders. The company is a little more than one year old and yet we were able to build a solid reputation and a client roster." He continued, "Now, in conjunction with the acquisition we are ready to execute on our strategic plan and begin our evolution." Under the terms of the agreement, NetWorth Systems will operate under the Colmena umbrella as a wholly owned subsidiary 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. in order to begin the process of executing on the combined company's multi-year growth plan. Anthony Joffe, Colmena's Chairman said, "We are thrilled to have completed the acquisition of NetWorth Systems. The road to this transaction has proved the resolve of all parties involved, and I can say with all confidence that the process has strengthened our unified vision for the future of this company. We were always a family with the highest aspirations. I now believe a foundation exists that will enable us to realize them." About NetWorth Systems, Inc. NetWorth Systems is a leading provider of outsourced information technology and business solutions - helping mid-market businesses, financial institutions, and corporations create and manage data integrity, network security and information technology business processes. NetWorth Systems has earned a reputation for consistently exceeding client expectations, and today, NetWorth Systems manages the IT needs for small, medium-to-large, and Fortune 500 businesses...handling well over 250 active clients. Our technical and engineering staffs carry the designations of MCSE See Microsoft certification. MCSE - Microsoft Certified System Engineer , MCP (1) See Microsoft certification. (2) (MultiChip Package) A chip package that contains two or more chips. It is essentially a multichip module (MCM) that uses a laminated, printed-circuit-board-like substrate (MCM-L) rather than ceramic (MCM-C). , NSA NSA abbr. National Security Agency Noun 1. NSA - the United States cryptologic organization that coordinates and directs highly specialized activities to protect United States information systems and to produce foreign IAM IAM - Interactive Algebraic Manipulation. Interactive symbolic mathematics for PDP-10. ["IAM, A System for Interactive Algebraic Manipulation", C. Christensen et al, Proc Second Symp Symb Alg Manip, ACM Mar 1971]. , CISSP (Certified Information Systems Security Professional) The award for successful completion of an examination in computer security administered by the International Information Systems Security Certification Consortium (ISC)2. . For more information please go to the Company's website at http://www.networthco.com. Safe Harbor Statement This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of 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. These statements are based on the current expectations or beliefs of NetWorth Systems, Inc. management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: adverse weather conditions, historical seasonality, loss of customers, increased competition and other risks detailed from time to time in filings with the Securities and Exchange Commission. Consequently, if such management assumptions prove to be incorrect or such risks or uncertainties materialize, the Company's actual results could differ materially from the results forecast in the forward-looking statements. |
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