Data Evolution Corporation Receives Strategic Investment From The Pinax Group Inc.; Investment and License Catapults Company to Forefront of the Handheld PC Market.Business Editors/High-Tech Writers NEW ORLEANS--(BUSINESS WIRE)--April 29, 2004 Data Evolution Holdings Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). .PK:DTEV) announced today that it's 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. , Data Evolution Corporation, has received a substantial strategic investment from The Pinax Group Inc. The investment will amass valuable intellectual property, equipment and assets to advance the Company's manufacturing capabilities and enable the Company to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. several significant market opportunities. "We are very pleased that The Pinax Group has placed its trust in Data Evolution's ability to dominate our market niche," said Robert J. Sowah, chief executive officer of the Company. "With this investment, Data Evolution will now be the top player in the convertible handheld PC  An editor has expressed concern that this article or section is .Please help improve the article by adding information and sources on neglected viewpoints, or by summarizing and market." In addition, the Company has executed a License Agreement with The Pinax Group whereby the Company will have the right to produce the award-winning Clio(R) convertible handheld PC. The Company will also have access to The Pinax Group's entire portfolio of intellectual property, concept designs, engineering specifications, OEM/ODM experience and contacts, and channel and strategic partners. "Users in various industries have evaluated Tablet PCs and have realized they do not need the full capabilities of a Windows(R) XP tablet system," Sowah continued, "however, these users do want the ability to effectively and efficiently capture data, as well as perform other typical computer functions, such as write and read e-mails, access the Internet, and perform word processing word processing, use of a computer program or a dedicated hardware and software package to write, edit, format, and print a document. Text is most commonly entered using a keyboard similar to a typewriter's, although handwritten input (see pen-based computer) and and spreadsheet tasks all while mobile. The Clio and other planned Windows CE-based products from Data Evolution offer the most important benefits of a full Tablet PC, including the ability to input data via touchscreen or integrated keyboard, without the high purchase price and maintenance costs of a full Tablet PC." For additional information about the Clio and updates about the Company's new and innovative handheld PC devices, please see the Company's Web site located at www.dataevolution.com. This release includes 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 pursuant to the 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. 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 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment or human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. About Data Evolution Holdings Inc. Data Evolution Holdings Inc., through its wholly owned subsidiary, Data Evolution Corporation, develops proprietary computer software and manufactures computer hardware for mobile data capture solutions. The Company's software products and services, grouped under the trade name mCapture:PowerSys(tm), are specifically designed to help organizations capture and manipulate data efficiently and accurately. Our hardware products consist of the award-winning, convertible handheld personal computer, Clio(R), and other niche-oriented computer products. Robert J. Sowah, Chief Executive Officer 650 Poydras Street Suite 1467 New Orleans, Louisiana 70130 Tel.: 504-299-3467 E-mail: info@dataevolution.com Web site: www.dataevolution.com |
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