DataWorld Solutions Announces Symbol Change to Reflect Name Change and Improved Corporate Structure.Business Editors FARMINGDALE, N.Y.--(BUSINESS WIRE)--March 22, 2000 DataWorld Solutions Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : VCCP), manufacturer and distributor of electronic cable, accessories, and custom cable assemblies for data, voice and video communications systems, today announced that effective March 23, 2000 its symbol on the OTCBB will change to "DWLD". "This symbol change from VCCP to DWLD reflects the company's name change from Vertex Computer Cable and Products Inc. to DataWorld Solutions, Inc. We feel the symbol and name change will also eliminate much past confusion as far as who DataWorld Solutions, Inc. really is. DataWorld Solutions became the name of the former Vertex in April 1999 after Vertex completed a reverse merger with DataWorld Solutions, Inc. approximately one year after Vertex emerged from its Chapter 11 reorganization. The former Vertex had been doing approximately $50M in revenues and had experienced numerous losses which subsequently forced the Chapter 11. Since the reverse merger DataWorld has renewed customer relationships, expanded product offerings, and brought the company to operational profitability. Recent sales are running at an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. rate of approximately $15M to 20 Million / year. DataWorld has clearly established itself in a strong position in the fiber-optic interconnect market," said DataWorld Solutions chairman 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. Daniel McPhee. "The company is experiencing a significant growth rate and yet we feel this is only the beginning of an aggressive move to increase our market share. We anticipate that our enhanced product offering and personalized service will make DataWorld a major provider to the dynamic fiber-optic interconnect market." Existing clients of DataWorld include 3M Corp. (NYSE NYSE See: New York Stock Exchange :MMM - news), 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 - news), Bear Sterns (NYSE:BST news), BMC Software (Nasdaq:BMCS - news), 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 - news), Cisco Systems (Nasdaq:CSCO - news), Picturetel (Nasdaq:PCTL - news), RCN Corp. (Nasdaq:RCNC - news), U.S. Web (Nasdaq:USWB - news), Northrop Grumman (NYSE:NOC news), 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 - news), Anicom (Nasdaq:ANIC - news), and Graybar. Except for historical matter, the matters in this press release are forward-looking statements and are made pursuant to 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. The forward-looking statements reflect assumptions, and involve risks and uncertainties, which might affect the company's business and prospects and cause actual results to differ materially from these forward-looking statements, which are detailed in the company's public filings with the SEC. |
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