(NWMT) NewMarket Greenfield Program Releases "Sex, Lies and PIPEs"
05 Agosto 2010 - 4:50PM
Marketwired
NewMarket Technology, Inc. (PINKSHEETS: NWMT) today released a
letter addressed to the shareholders of NewMarket's Greenfield
Program companies. NewMarket founder and Chairman Philip Verges has
written the letter to shed new light on the inner workings of the
Over-The-Counter market and the related Private Investment in
Public Equity (PIPE) market. The intent of his letter is to help
individual investors improve their Over-The-Counter investment
strategies and to guide entrepreneurs through the PIPE financing
market. The subject line of the letter is "Sex, Lies and PIPEs."
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. (OTCBB: CCTR), Savanna East Africa, Inc. (PINKSHEETS: NVAE)
and NuMobile, Inc. (OTCBB: NUBL).
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.
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Contact: NewMarket Technology, Inc. Investor Relations
ir@newmarkettechnology.com 214-722-3065
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