Court Approves Asset Sale of DCi to Viewcast Corporation.Business Editors & High-Tech Writers DALLAS--(BUSINESS WIRE)--Aug. 13, 2002 ViewCast Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :VCST), today announced that the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. in the bankruptcy case of NQL NQL Network Quality Lab (Intel Corporation) NQL Not Quite Legal NQL Network Query Language Inc. has approved the intended purchase by ViewCast Corporation of virtually all of the assets of NQL's wholly-owned subsidiary, Delta Computec Inc. ("DCi"). ViewCast, NQL and DCi entered into an asset purchase agreement on May 31, 2002, pending approval from the Bankruptcy Court. DCi is a provider of professional information technology and customized network support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to Fortune 500 and Fortune 1000 corporations, mid-sized companies, hospitals, health care facilities and financial institutions primarily in the Northeast. "We are pleased to receive the positive ruling from the bankruptcy court and look forward to expediting the process of acquiring the assets of DCi," stated George Platt, 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. . "We believe that DCi is a great investment for ViewCast due to their impressive customer satisfaction track-record and complementary capabilities, which address a variety of target markets, plus the expectation of a positive financial impact from their operations. This acquisition adds depth and breadth to our current product offerings, as well as expands our existing customer base." ViewCast's purchase of the DCi's assets remains subject to various terms and closing conditions of the asset purchase agreement. Further details regarding DCi and the acquisition will be released following the close of the transaction, which is expected to occur in September 2002. About ViewCast Corporation ViewCast develops products and services that provide video networked solutions. ViewCast maximizes the value of video through its core businesses: Osprey osprey (ŏs`prē), common name for a bird of prey related to the hawk and the New World vulture and found near water in most parts of the world. (R) Video provides the streaming media industry's de facto standard Hardware or software that is widely used, but not endorsed by a standards organization. Contrast with de jure standard. de facto standard - A widespread consensus on a particular product or protocol which has not been ratified by any official standards body, such as ISO, capture cards and ViewCast Systems integrates turnkey streaming and video distribution systems and software. From streaming digital video on the Internet to distribution of broadcast-quality video throughout the corporate enterprise, plus comprehensive video software applications, ViewCast provides the complete range of video solutions. Visit the company's Web site (http://www.viewcast.com) for more information. 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 Certain statements, including those made by George Platt and those regarding business outlook, contain "forward-looking" information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the company's current judgment on certain issues. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially. Important factors which could cause the actual results to differ materially include, without limitation, the following: the ability of the company to service its debt; continued significant losses by the company; the ability of the company to develop and market new products as technology evolves; the ability of the company to meet its capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. ; increased competition in the video communications market; the ability of the company to maintain current and develop future relationships with third party resellers, manufacturers and suppliers; the ability of the company to meet governmental regulations; the ability of the company to obtain and enforce its patents and avoid infringing upon third parties' patents; and the satisfaction of the closing conditions and completion of the DCi asset acquisition. The company will not update these forward-looking statements, which speak only as of the date hereof. For a detailed discussion of these and other cautionary statements and factors that could cause actual results to differ from the company's forward-looking statements, please refer to the company's reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and 10-Q on file with the Securities and Exchange Commission. All trademarks are property of their respective holders. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion