July 28, 2005 08:00 ET

SOFTLEAD Unwinds the Acquisition Agreement With Microlink and Announces New Focused Acquisition Strategy

LOS ANGELES, CA -- (MARKET WIRE) -- July 28, 2005 -- SOFTLEAD, Inc. ( (OTC: SFTL) announced today the company will unwind its acquisition agreement with Microlink Enterprise, Inc. from July 16, 2004.

Unwinding the acquisition agreement with Microlink shall allow the Company to avoid risks associated with low margin hardware-related business and focus on high margin software and BPO business in order to maximize profitability.

Also, SOFTLEAD, Inc. announced plans for a new Acquisition Strategy with focus on targets with in the western United States and in the Software and BPO sectors to help complement its existing product lines and help bolster shareholder value.

Consistent with its new plan SOFTLEAD, Inc. has terminated letters of intent to purchase Koinonia Computing, Inc., a Kentucky-based company, and Customer Contact Centre Pty Ltd. ("CCC") in Australia.

"We want to focus and capitalize on the opportunities here in California, Nevada and Arizona to build a strong consolidated software and BPO business on the West Coast, an area which continues to lead the Industry as well as the Country in the IT and BPO sectors," stated Mr. Arshad Waheed, the CEO of SOFTLEAD, Inc. "We plan to aggressively and systematically acquire some of the companies we believe will add to our shareholders' value," Mr. Waheed continued.

SOFTLEAD, Inc. owns software which is specific to Web-enabled business transactions, wireless application components as well as Security of Information Technology infrastructure. ProcesSMART, Inc., a wholly owned subsidiary company of SOFTLEAD, specializes in Business Process Outsourcing (BPO) operations and methodologies.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by SOFTLEAD, Inc. (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, if applicable, are statements regarding the intent, belief or current expectations, estimates or projections of the Company, its Directors or its Officers about the Company and the industry in which it operates, and are based on assumptions made by management. Forward-looking statements include, without limitation, statements regarding: (a) the Company's strategies regarding growth and business expansion, including future acquisitions; (b) the Company's financing plans; (c) trends affecting the Company's financial condition or results of operations; (d) the Company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the Company's ability to respond to changes in customer demand and regulations. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.

Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the Company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the Company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix and the geographic mix of sales. The Company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

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Contact Information

  • Contact:
    Ms. Kelsi Lang
    SOFTLEAD, Inc.
    100 South Citrus Avenue, 2nd Floor
    Covina, California 91723
    Phone: (626) 915-0001
    Fax: (626) 915-0601
    Email: Email Contact