The Translation Group, Ltd. Does Not Consummate Applied Knowledge Systems International, Ltd. Executory Agreement; Translation Group, Ltd. Remains Exclusive Worldwide Licensee of the Gedanken System.Business Editors/Hi-Tech Writers HADDONFIELD, N.J.--(BUSINESS WIRE)--May 25, 2001 The Translation Group, Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :THEO THEO - A frame language. ["Theo: A Framework for Self-Improving Systems", Mitchell et al, in Architectures for Intelligence, K. VanLehn ed, Erlbaum, 1989]. ) announced today that an executory That which is yet to be fully executed or performed; that which remains to be carried into operation or effect; incomplete; depending upon a future performance or event. The opposite of executed. executory adj. something not yet performed or done. agreement for the acquisition of the outstanding shares of Applied Knowledge Systems International, Ltd. ("AKSI") was not consummated. AKSI, through a 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. , owns the Gedanken System (TM), a patented translation technology. The Translation Group Ltd. remains the exclusive worldwide licensee of AKSI's Gedanken System under a 1997 Licensing Agreement. The Translation Group, Ltd. is a leading innovator of advanced computer software and systems designed to perform language text translations in an automated or semi-automated manner. The Translation Group, through subsidiaries in 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. , Europe, and Asia, provides total solutions for translation and localization Customizing software and documentation for a particular country. It includes the translation of menus and messages into the native spoken language as well as changes in the user interface to accommodate different alphabets and culture. See internationalization and l10n. needs in the rapidly growing information technology sector. This press release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Translation Group believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those in the forward looking statements contained herein include, among others, the need to obtain additional capital, the extent of current or future competition, the need to protect its proprietary rights to its technology and the need to capture the markets for its technologies and products. Interested parties are also urged to refer to additional information regarding the Translation Group, which is contained in its reports to the Securities and Exchange Commission. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion