VHS Network Inc., Announces New President.Business Editors MISSISSAUGA, Ontario--(BUSINESS WIRE)--Jan. 9, 2002 VHS (Video Home System) A half-inch, analog videocassette recorder (VCR) format introduced by JVC in 1976 to compete with Sony's Betamax, introduced a year earlier. Network, Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : VHSN VHSN Very-High-Speed Network ) announced today that John Salowski has accepted an appointment as President of the Company. Mr. Salowski succeeds Janos Stiasny in this position. Mr. Salowski, who will also join the Company's board of directors, will assume his duties effective January 1, 2002. Mr. Salowski comes to VHS Network Inc. with over 30 years' experience in the Information Technology sector as both an executive and systems consultant. As past President of Remedy Software Inc. and most recently of the newly acquired TrueNET Enterprise Inc., his primary focus has been to oversee the development and implementation of electronic wholesale and retail distribution systems. Commenting on Mr. Salowski's appointment, Elwin Cathcart, 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. of VHS Network Inc., said: "Mr. Salowski possesses a rare combination of management experience and hands-on technological talent, which makes him an ideal candidate for this position. As VHSN expands to meet the demands of a burgeoning world ebusiness market, we are confident in Mr. Salowski's ability to lead the Company with authority and insight." Reflecting on his decision to join VHS Network Inc. and accept the appointment as president, Mr. Salowski said: "This is an exciting time for an exciting company. With the acquisition of an ebusiness software division, we have the opportunity to develop our systems toward the cutting edge of electronic trade, making each of our various technology products and services more accessible and easier to use. I think the Company is poised to enter a new era in terms of market leadership and profitability and I am looking forward to being part of the team that will make it happen." VHSN Network Inc., a Nasdaq-listed ecommerce firm, develops and operates sophisticated trade mechanisms, which include the use of SmartCard(TM) technologies and international internet-based trade portals. The company's services are based on the simple principle of removing barriers and bringing together parties who want to do business, under the banner "Where Products Premier and People Profit". This press release contains 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. within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject 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. created by those sections, and the provisions contained in 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 and any amendments thereto there·to adv. 1. To that, this, or it. 2. Archaic In addition to that; furthermore. thereto Adverb Formal 1. to that or it 2. . |
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