NEW YORK, Jan. 27, 2004 (PRIMEZONE) -- AdZone Research Inc. (OTCBB:ADZR), a pioneering Internet surveillance technology solutions provider, today formally announced that the company is expanding its operating structure to accommodate new opportunities in both the commercial marketplace as well as its growing role in defense-related applications.
"We made a determination at a strategic meeting yesterday that the company needed to clearly delineate the emerging roles that it foresees in both the commercial and defense sectors of our business," said AdZone's Chairman & CEO, Charles A. Cardona III. "By taking these actions, as well as others to be announced in the near future, we are looking to significantly expand the extraordinary confidence shown by our shareholders, and to ensure that we have the means to continue to seek the highest possible return on their investment in AdZone. "At the same time," Cardona noted, "it clearly makes sense for these entities to have their own staffs and missions, overseen by their corporate parent."
The CEO said that AdZone Research would soon change its parent company name to reflect the new multi-division focus. "We clearly believe that shareholders will realize greater benefits with this expanded focus," Cardona said. "In fact, there may come a time in the not too distant future when the parent company may have the means to spin off both entities as Initial Public Offerings."
"On the surface, it might seem that such an evolution would be highly beneficial, especially given that we now anticipate that as a result of events yet to be announced, that by the end of this year the company's commercial and defense-related divisions may literally be running neck to neck in revenues," Cardona continued.
"We have been especially intrigued by the many suggested names that have been offered by our shareholders and welcome their continued input. Moreover," Cardona said, "the ultimate name of the new company will clearly be focused on cyber intelligence systems applicable to both our newly constituted divisions."
"We have a technology that is unique to the marketplace, and a current and continuing need to properly position ourselves both now and for the future," said Cardona.
"Our key challenges," the CEO noted, "is trying to leverage the overlooked assets that exist in some fashion in every company, and then couple them with current market opportunities. A company becomes a compelling story when these synergies occur, providing important new perspectives to suppliers, potential customers and investors as well.
"All businesses need to plan for the future," said Cardona, "and AdZone's strategic plans are continually evolving. It is critical for us to continually assess market risks and to plan to fully capitalize on market opportunities."
AdZone Research specializes in automated retrieval, classification, analysis and delivery of worldwide Internet data for global defense as well as media metrics. Through monitoring of more than 500,000 Internet web sites worldwide, AdZone provides tracking and monitoring of targeted information on the Internet, with an expanded focus on global Internet analysis of security-related data transmissions. Additional information is available at the company's web site at www.adzonereseach.com, on www.barrowstreet.com and on www.equitynet.net.
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.