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NewMarket Technology, Inc. Files 8k on Binding Agreement with Paragon Financial Corporation for Public Listing of NewMarket Latin American Subsidiary with 2007 Revenue Forecast of $30 Million.

NewMarket to Present on Subsidiary Listings in Boca Raton Feb. 13, Atlanta Feb. 14 and New York Feb. 15

DALLAS -- NewMarket Technology, Inc. (OTCBB:NMKT) has filed an 8k on the binding agreement with Paragon Financial Corporation (OTC: PGNF) to combine NewMarket's Latin American operations into Paragon. Under the terms of the binding agreement, NewMarket would become the majority shareholder through a convertible preferred stock with a one year lock up period in Paragon Financial. Subsequent to closing, the corporate name would change to NewMarket Latin America. NewMarket expects to book over $20 million in profitable revenue for 2006 from its Latin American operations and has issued a revenue forecast of $30 million for the Latin American operations with profitability for 2007. The transaction is expected to close prior to the end of the first quarter.

Upon closing, NewMarket's Latin American operation would be the company's second consolidated regional subsidiary to be independently listed. The company listed NewMarket China (OTCBB:IICP) in late 2006. A revenue forecast of $40 million for 2007 has been released by NewMarket China.

A third subsidiary is also in the process of being publicly listed. NewMarket and Diamond I, Inc. (OTCBB:DMOI) have signed a letter of intent (LOI) agreement to consolidate the companies' Wi-Fi technologies. NewMarket also recently announced a second LOI agreement to acquire a majority interest in its affiliate Wi-Fi operation, RedMoon, Inc. RedMoon will be combined into Diamond in conjunction with NewMarket's acquisition of a majority interest in Diamond.

RedMoon has designed, engineered and deployed mesh network solutions, providing high-speed internet service, security surveillance, automatic meter reading and mobile broadband for municipalities. In 2006, RedMoon and Chevron Energy Solutions, a Unit of Chevron Corporation (NYSE:CVX), signed a contract with the City of Burleson, Texas, to construct a wireless broadband network and implement an automatic water meter reading pilot project.

The combined NewMarket, Diamond and RedMoon operations will create a multi-industry Wi-Fi solution provider with a 2007 revenue forecast of $10 million. In addition, the new subsidiary will advance Diamond I's proprietary encrypted hand-held gaming system targeted at the casino and gaming industry.

As with each subsidiary listed, NewMarket would be the majority shareholder and continue to consolidate the financials of the new subsidiary. The cumulative 2007 forecasted revenue of the three subsidiary operations to be listed independently is $80 million. NewMarket will issue stock in the subsidiary operations to NewMarket shareholders in dividend distributions after the subsidiaries have progressed in terms of additional revenue growth.

Upcoming NewMarket Presentations on Independently Listed Subsidiaries

NewMarket Technology will present business plans for its three initial publicly listed subsidiaries. Anyone interested in attending the presentations, please RSVP to or 214-722-3052.

Feb. 13, 4:30pm ET - Boca Raton, Florida

Feb. 14, 4:30pm ET - Atlanta, Georgia

Feb. 15, 4:30pm ET - New York, New York

Further information on time and location of the presentations is available on the company website at

To be added to NewMarket's corporate e-mail list for shareholders and interested investors, please send an e-mail to

About NewMarket Technology, Inc. (

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), Cisco Systems (Nasdaq: CSCO), SAP (NYSE:SAP), Siebel (Nasdaq: ORCL) and Sun Microsystems (Nasdaq: SUNW). 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.

About Paragon Financial Corporation

Paragon Financial Corporation had been a financial services business focused on the acquisition of companies that originate mortgages loans or provide other financial services. Subsequent to the recent sale of its Paragon Homefunding subsidiary, acting management is currently exploring a range of alternative business strategies to maximize shareholder value.


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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Publication:Business Wire
Date:Jan 25, 2007
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