Diamond I, Inc. and NewMarket Technology, Inc. with $70 Million in Annualized Revenue Announce Letter of Intent to Combine WIFI Operations into Conglomerate Creating Another Listed NewMarket Subsidiary.Combined WIFI Conglomerate and NewMarket Listed Subsidiary to Sell WIFI Enabled Solutions to Multiple Markets Including Voice over IP (VoIP), Gaming, Homeland Security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States and Municipal Utilities DALLAS -- NewMarket Technology, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NMKT) and Diamond I, Inc. (OTCBB:DMOIE) today announced plans to combine WIFI operations. The planned merger of Diamond I's WIFI operations with NewMarket's WIFI operations is a significant part of Diamond I's recently announced reorganization plans to support an overall WIFI market expansion strategy. WIFI Expansion Strategy and NewMarket Contribution The combined companies will consolidate WIFI technology assets and proprietary knowledge and build equity partnerships with other emerging WIFI businesses that can be leveraged to build revenue in a number of market segments. In the reorganization, Diamond I will develop subsidiary companies that concentrate on developing WIFI-specific market segments. Diamond I already has a subsidiary focused on WIFI-enabled gaming targeted for deployment on casino properties. A second subsidiary is to be formed to concentrate on bringing WIFI solutions to city municipalities. The parent company will maintain its core WIFI technology assets that can be applied to develop additional WIFI market segments through focused subsidiaries. NewMarket Award-Winning Strategy to Develop Emerging Technology NewMarket Technology recently ranked fifth on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . This is the third consecutive year that NewMarket has been ranked on Deloitte's Technology Fast 500. NewMarket is the fastest growing company in Texas on the Fast 500 ranking and the first Texas-based company to make the Top 5 since 2001. NewMarket Technology continues to maintain a rapid growth rate with $70 million in revenue forecasted this year and $120 million forecasted in 2007. Philip Verges, 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 of NewMarket commented: "The micro cap public market can be a great environment for providing development stage businesses access to growth capital. However, the increased expense of being public creates a substantial hurdle for small development stage businesses. At NewMarket, we believe development stage micro cap public conglomerates give emerging market businesses access to a great capital market while mitigating the increasing expense of being public. We also believe most technologies can be applied to multiple market segments. We are confident that the opportunity to consolidate WIFI operations with Diamond creating multiple market segment opportunities will enhance shareholder value in the combined operation Noun 1. combined operation - a military operation carried out cooperatively by two or more allied nations or a military operation carried out by coordination of sea, land, and air forces ." David Loflin, Diamond I's CEO: "NewMarket not only brings valuable WIFI assets and knowledge, but ground breaking experience in incubating emerging technology operations. I look forward to progressing further with this opportunity with NewMarket and building a multi-market WIFI conglomerate." Diamond and NewMarket Terms Diamond I and NewMarket have entered into a letter of intent (LOI LOI Letter of Indemnity (international trade and carriage business) LOI Letter Of Intent LOI Loss On Ignition LOI Letter of Inquiry LOI Lack Of Information LOI Lack of Interest LOI Letter of Invitation LOI List Of Items ) to combine WIFI operations. The terms of the LOI propose NewMarket's WIFI subsidiary acquiring a sixty percent interest in exchange for $2 million in preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . The terms include the formation of two operating subsidiaries. One subsidiary will concentrate on developing the WIFI gaming market opportunity that is just beginning in the gaming industry. The second subsidiary will focus on developing the city municipal government WIFI market. About Diamond I, Inc. (www.wificasino.net) "Voice-Print" and "Finger-Print" Technologies. Diamond I, Inc. owns the rights to patent-pending voice-recognition and fingerprint biometric security technologies. These security technologies will be incorporated into Diamond I's WifiCasino GS wireless, hand-held gaming system, as well as the hand-held gaming unit to be employed by the Global Gaming Platform venture. Diamond I, Inc. is a development-stage company that develops wireless gaming products, including a hand-held Wi-Fi-based gaming system for on-premises use by casinos/resorts, known as "WifiCasino"(TM), which includes the GS2(TM), the user-friendly wireless hand-held unit. The term "Wi-Fi" (wireless fidelity See Wi-Fi. ) refers to an industry standard for wireless equipment that meets published 802.11(x) standards. Wi-Fi equipment operates in unlicensed spectra, such as 2.4 and 5.8 Ghz. With the passage of Nevada Law AB471, which authorizes the use of mobile communication devices for gaming in public areas in Nevada casinos, Diamond I seeks to secure a Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. hotel/casino to serve as the demonstration site for its WifiCasino, in conjunction with its application for a gaming license in Nevada. To that end, in a letter of intent, The Palms Resort and Casino has agreed to continue to develop a working relationship relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Diamond I's WifiCasino and, assuming Diamond I continues to meet certain standards, The Palms stated that it intends to pursue an opportunity with Diamond I. Diamond I continues to seek venues in which to establish its WifiCasino system, including other U.S. casinos and horse and dog racing dog racing, trials of speed between dogs. Now contested on oval tracks, the sport developed from the ancient practice of coursing, in which specially trained dogs chase game animals in the open field. facilities. Diamond I has had preliminary discussions with certain owners of cruise ships, certain owners of horse racing facilities in the United States and dog and horse racing facilities outside the United States. About NewMarket Technology Inc. (www.newmarkettechnology.com) NewMarket helps clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions to include Microsoft (Nasdaq:MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ), Cisco Systems (Nasdaq:CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ), Hyperion Solutions (Nasdaq:HYSL), SAP (NYSE NYSE See: New York Stock Exchange :SAP), Siebel (Nasdaq:ORCL ORCL Oracle (stock symbol) ) and Sun Microsystems (Nasdaq:SUNW SUNW Sun Microsystems, Inc (former stock symbol; now JAVA) SUNW Stanford University Network Workstation (Sun Microsystems, Inc) ). Concurrently, NewMarket continuously seeks to acquire undiscovered emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions. NewMarket delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore. NewMarket maximizes shareholder return on investment by independent listing of consolidated regional and emerging technology subsidiaries in order to issue subsidiary stock in shareholder dividends. "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" UNDER 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 This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions. |
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