DALLAS, TX--(Marketwire - August 5, 2010) - NewMarket Technology, Inc. (
NewMarket Greenfield Program
NewMarket launched the Greenfield Program last year to facilitate the start-up and early stage development of high-growth potential businesses. The Greenfield Program concentrates on early stage, rapid growth opportunities in the world's emerging markets, with program participants in China, Southeast Asia, South and Central America and East Africa, in addition to a handful of program participants in North America. Many of the Greenfield Program companies are quoted on an Over-The-Counter market to facilitate access to early stage financing through the PIPE market. Greenfield Program companies include China Crescent Enterprises, Inc. (
Philip Verges Explains Motivation for "Sex, Lies and PIPEs"
"Quite honestly I came into the over-the-counter markets in 2002 out of desperation. My family's 1997 technology startup was battered and beaten down in the fall out of the dot-com market. Our angel investor's wings had been clipped. To make matters worse, our operating losses had racked up fast as a result of non-paying clients also battered and beaten down in the dot-com fallout and my younger, kinder and gentler disposition in those days. I was slow to cut back operations in the face of declining sales and client non-payments in hope that the technology market was going to turn around any minute. My wife delivered our fifth child in late Fall 2001 and due to my voluntary pay cuts, we were also three months behind on our mortgage payment by the end of 2002. I merged our struggling technology startup into an Over-The-Counter quoted company in June of 2002. I expected the previous public management team to stay on board to manage the continuing public reporting requirements. I could hardly spell 'SEC' at that time. Unbeknownst to me, the previous management team had their own agenda and issued themselves a few million shares of stock through an S-8 registration statement and hightailed it out of town. I did not hear from them again until I was sued for a $1 million change-of-control bonus former management claimed they had coming. They sued me, the Company and my wife as 'Jane Doe' Verges. With five kids under the age of twelve, three months behind on the mortgage and a legal service delivered by a uniformed officer at the time, I am very lucky to still be married and have most of my hair. That was the beginning of a long education on the ins and outs of the Over-The-Counter market at the school of hard knocks. I had no idea what I was getting into when I came into the Over-The-Counter markets. The family business I merged into an Over-The-Counter operation became the foundation of a nearly $100 million international technology services corporation and the back office solution provider and partner of early stage, high growth emerging market businesses with millions in combined revenue. After eight years of conversations with shareholders and entrepreneurial managers of Over-The-Counter companies, I can safely say that I think most investors and entrepreneurs have very little idea of what they are getting into when they enter the Over-The-Counter market. Today, I am a big fan of the Over-The-Counter markets, perhaps the biggest fan, and I believe the Over-The-Counter markets provide the very best venue for entrepreneurs to get consistent access to early stage financing and for small investors to achieve consistent meaningful returns. But the approach to financing and realizing a return on investment is probably different than what you think. The purpose of my 'Sex, Lies and PIPEs' letter is to present what just might be a completely different picture than you ever before imagined of the Over-The-Counter markets. More importantly, the letter is intended to provide a road map for entrepreneurs and investors to guide them toward their financing and return on investment objectives. I hope you will set aside some time to read it."
Mr. Verges' letter is available in its entirety on NewMarket's corporate website www.newmarkettechnology.com under 'Investor Relations' or directly at: http://www.newmarkettechnology.com/lts_2010805.html
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About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket provides systems integration, technology infrastructure services and emerging technology worldwide. NewMarket has a focus on providing technology and support services to rapidly growing economies where technology purchasing is on the rise. In addition to its base of operations in North America, NewMarket has operations today in the growing economies of China, Southeast Asia, Brazil and Northern Latin America. Overall, NewMarket reported over $95 million in revenue for 2008 and reported over $98 million in profitable revenue for 2009.
Across the globe, NewMarket is a Microsoft and Oracle partner, distributes various computer hardware and peripherals from brand partners such as Dell, HP, IBM, Cisco, Sony, Epson, Canon and Sanyo and is also an authorized reseller of operating systems and various software from companies such as Red Hat, Sybase, IBM, BEA, Veritas and others. Additionally, the Company works with emerging technologies such as mobile computing, various security and wireless broadband technologies. NewMarket's rapid growth since 2002 placed the Company on the Deloitte Technology Fast 500 for 5 consecutive years. NewMarket was recognized as the third fastest growing technology company in the United States in 2006 and the number one fastest growing technology company in North Texas for two years in a row.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
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.
Contact Information:
Contact:
NewMarket Technology, Inc.
Investor Relations
ir@newmarkettechnology.com
214-722-3065