DataWorld CEO Comments On Recent Dow Jones Mis-Information.Business Editors FARMINGDALE, NY--(BUSINESS WIRE)--Oct. 20, 2000 DataWorld Solutions, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : DWLD.OB) (Frankfurt - VRX) 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 Chairman, Daniel McPhee commented today regarding Tuesday's Dow Jones announcement. "Unfortunately, the Dow Jones article misinterpreted information that had been contained in the Company's recently filed SEC Form 10-KSB," McPhee said. "The article indicated: 'As reported, the Company is reorganizing under a Chapter 11 plan of reorganization...'" McPhee indicated that this is inaccurate and could not be further from the truth and, Dow Jones has since corrected the misstatement mis·state tr.v. mis·stat·ed, mis·stat·ing, mis·states To state wrongly or falsely. mis·state ment n. . "In fact, the Company emerged from Chapter 11 reorganization almost three years ago, when the Company was known as Vertex Computer Cable & Products, Inc. In December of 1998, the present management of the Company gained control over the Company and has been guiding the Company's operations since that time". "At the time we came aboard, Vertex was loosing approximately $250K per month", McPhee said. "Since our management team took over, we have made significant operational changes and process improvements. Our recent Form 10-KSB, which was filed on October 13, 2000, is indicative of the Company's improved performance. We have proven the efficiency and effectiveness of our Marketing and Administrative team. The recent addition of former ITT Network Systems & Services Director of North American Operations, Larry Paniccia, as DataWorld's executive vice president, as well as the increased repeat orders to DataWorld from Fortune 500 Companies, should be an indicator as to the effectiveness of the Company's strategies in a competitive industry." On another matter, McPhee noted that he intends to increase communications with shareholders. "It has been our previous policy to `Build a Company' rather than diverting our attention by blowing our horn. One of the ways we will accomplish this increased communication is by incorporating newsletters and other information that will be of interest to shareholders on our new and expanded website, which is currently under construction." About DataWorld: DataWorld Solutions, Inc., is a multi-regional, value-added specialty distributor and manufacturer of electronic cable assemblies used in providing connectivity solutions, which includes systems integration, for customers operating a wide range of data systems. This includes linking or connecting standard or proprietary electronic devices and peripheral components from different vendors to provide solutions for various customer requirements. The Company adds value by providing connectivity solutions, which may include distributed sales for passive components such as electronic connectors, electronic wire and cable, cabinets and racks and patch panels, and active components, including hubs, bridges, routers, gateways and modems. DataWorld currently has 2 assembly plants on Long Island, New York as well as San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. , with over 100 employees. Existing clients of DataWorld include; 3M Corp. (NYSE NYSE See: New York Stock Exchange - MMM MMM Myeloid metaplasia with myelofibrosis, see there ), Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. (NYSE - BAC), Bear Stearns (NYSE - BST (convention) BST - British Summer Time. The name for daylight-saving time in the UK GMT time zone. ), BMC Software (Nasdaq - BMCS BMCS Bristol Muslim Cultural Society (UK) BMCS Senior Chief Boatswain's Mate (Naval Rating) BMCS Blue Mountains Conservation Society (Wentworth Falls, NSW, Australia) ), Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. (NYSE - CMB ), Cisco Systems (Nasdaq - CSCO ), Eastman Kodak (NYSE - EK) Picturetel (Nasdaq - PCTL ), RCN Corp. (Nasdaq - RCNC), U.S. Web (Nasdaq - USWB ), Northrop Grumman (NYSE - NOC), and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . DataWorld Solutions competitors include Anixter (NYSE - AXE ), Anicom (Nasdaq - ANIC), and Graybar. This release contains forward-looking statements with the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in the forward-looking statements and assumptions, upon which forward-looking statements are based, are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. |
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