Softlock Names Keith Loris Chief Executive Officer and Chairman of the Board; Experienced Software Executive Joins Information E-Commerce Pioneer.
"I am very excited by the incredible impact of Softlock.com's transaction system on information ecommerce," said Loris. "The opportunity for SoftLock.com to create new, profitable distribution channels for information-based web sites is truly tremendous."
Loris joins Softlock.com with the proven experience of numerous marketing and technical positions at growing software companies. Previously he served as vice president of technology for the Desktop Document Systems Division of Xerox Corporation and, prior to that, vice president of technology for NYNEX Image Recognition Systems, Corp. Mr. Loris received a Bachelors Degree in Biology from Vassar College in 1979 and a Masters Degree in Computer Science from New York University in 1986. He also holds three neural network patents.
"Keith is the ideal individual to capitalize on our early achievements in this market," said Jonathan Schull, President and Founder of SoftLock.com. "Electronic commerce of web-based documents and information is really taking off, and Keith's proven ability to focus and build web-based software businesses is just what SoftLock.com needs right now."
SoftLock.com's patented system for information commerce is useful in many markets, but especially for commercial web sites which need a safe and secure way of selling electronic information. Until now, these sites have hesitated to place their most valuable information on the Internet because it has been too easy to infringe their copyright, make unlimited numbers of copies, and redistribute their information. So sites either give less valuable content away in the hope of attracting enough browsers to create significant advertising revenue, or they password-protect their web site and charge a subscription fee for access to their most valuable content. Neither approach works very well. Few sites are popular enough to enjoy significant ad rates. And web-site passwords afford little real protection -- content and passwords can still be pirated.
The SoftLock.com transaction system introduces a third business model for commercial web sites. Instead of giving content away or requiring people to subscribe to all the content on a site in advance, publishers can now charge for specific content on demand. Better yet, the content remains secure and generates revenue no matter how many times it is copied and redistributed. The result is a new, profitable business model for information-based web sites.
SoftLock.com's (www.softlock.com) patented system of software products and vending services revolutionizes the electronic commerce of digital goods, because it builds copyright protection, payment processing, and a distribution system right into the product. SoftLock.com turns browsers into customers, turns customers into distributors, and creates a virtual distribution channel that can not only sell to a prospect, but can also sell to the prospect's friends and colleagues.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in future operating results due to a number of economic, competitive and other factors, including, among other things, the size and timing of customer orders, changes in laws, new or increased competition, delays in new products, production problems, changes in market demand, market acceptance of new products, seasonality in product purchases and availability of capital to finance intended expansion of operations. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the Company and its operations, are included in the Company's fillings with the Securities and Exchange Commission and are incorporated herein.
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|Date:||Oct 5, 1998|
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