LOS GATOS, Calif., July 7, 2004 (PRIMEZONE) -- Semotus Solutions (AMEX:DLK), an innovative provider of real-time professional market data and intelligent wireless communications software, announced today it has retained the services of Bathgate Capital Partners, LLC, to explore Merger, Acquisition and Strategic Partnership opportunities for the Company.
Semotus believes that its intrinsic enterprise value is greater than is currently reflected in the price of its stock in the public market. Semotus has a Platinum Fortune 1000 customer base, cash reserves, no debt, no litigation, a clean common stock equity structure, niche products with over 75% gross margins, and a veteran management team. The Company is 10 years old and has been on the American Stock Exchange since 1999.
"Semotus has significantly reduced its losses over the last three years and is poised to break into profitability," stated Anthony LaPine, Semotus CEO. "I am impressed with the BCP team and track record and believe the firm will do an excellent job in exploring all avenues in exploiting Semotus' intrinsic enterprise value to the benefit of its shareholders."
Bathgate Capital Partners (BCP) has created a successful business by targeting the niche market of undervalued microcap public companies, with a special focus on the wireless arena. BCP specializes in increasing the visibility of these companies among investors and companies looking for firms with unique, market-attractive products and/or services, clean balance sheets, and that are positioned for quick growth. BCP has a solid success ratio in high-level transactions involving financing, acquisitions, and mergers. BCP clients include IMPCO Technologies, Inc., Advantage Wireless, and many other companies representing a broad range of industries.
"After careful study of BCP's business methodologies, successes, and client portfolio, we concluded that they are indeed experts in their field, and can help us achieve our goal of increasing shareholder value by exploring ways to create greater synergies with companies in the wireless space," stated Anthony LaPine. "We are truly excited about this important next step in our growth plan."
Jeff Kohler, Director of Wireless Banking Services of BCP affirmed, "Now that Semotus Solutions has successfully concluded its three-year Centralization and Consolidation program, it is well-positioned for a merger, acquisition or strategic partnership. BCP looks forward to exploring the wide range of value-added options open to Semotus in today's dynamic M&A market place."
About Semotus Solutions
Founded in 1993, Semotus Solutions (AMEX:DLK) is a premier provider of software for the mobile enterprise connecting employees to critical business systems, information and processes. Semotus has a Fortune 1000 installed customer base and more than 600 corporate clients including Lockheed Martin, Blue Cross Blue Shield, Coca-Cola, Hewlett-Packard, Nextel Communications, JP Morgan-Chase, and The United Nations. Semotus Solutions' software provides mobility, convenience, efficiency and profitability in the areas of workforce automation, finance, healthcare, and m-commerce. www.semotus.com
About Bathgate Capital Partners, LLC
Bathgate Capital Partners LLC is an innovative investment-banking firm headquartered in the Denver suburb of Greenwood Village, Colorado. BCP focuses primarily on providing comprehensive investment banking services to underexposed and undervalued microcap companies. Over the past eight years, Bathgate Capital Partners and its principals have assisted emerging growth companies in raising in excess of $400 million in over 65 transactions. BCP is a member of the NASD, CRD Number 038923. http://www.bathgatepartners.com
Semotus Solutions Media Contact Don Meyer, 408-358-7003 Marketing Manager dmeyer@semotus.com Semotus Solutions Investor Relations Contact Tali Durant, 408-358-7100 Corporate Counsel tdurant@semotus.com Bathgate Capital Partners, LLC Media and IR Contact Dick Huebner, 3039694-0862 E-mail: dick@bathagatepartners.com Company web site: www.bathgatecapital.com
This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "intends," "believes" and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.