SOURCE: Worldwide Strategies

October 23, 2009 15:07 ET

Wordwide Strategies, Inc. Releases Letter to Shareholders on Strategic Merger and National Exchange Listing Strategy

DENVER, CO--(Marketwire - October 23, 2009) - Worldwide Strategies, Inc. (OTCBB: WWSG) and NewMarket Technology, Inc. (PINKSHEETS: NWMT) released a joint, on-demand Webcast yesterday to present a detailed overview and status update on a previously announced agreement to merge NewMarket's operations headquartered in Brazil with Worldwide. Today, Worldwide released a letter to shareholders from James Samuels, CEO of Worldwide, to further discuss the agreement.

This week, James Samuels and Philip Verges, CEO of NewMarket, met in Dallas with legal and accounting teams to finalize terms for the definitive agreement expected to be executed by the end of the year. The Webcast presentation includes the bigger picture objective to combine additional NewMarket operations into Worldwide following a successful listing of Worldwide on a national exchange. In the Webcast introduced by former Dallas Federal Reserve Chairman and Retired Major General Hugh G. Robinson, the Worldwide and NewMarket CEOs outline a plan to build a national-exchange listed company with $1 billion in revenue and a share price aligned with fundamental financial performance. A link to the Webcast is available on both the NewMarket corporate website homepage and investor relations page at www.newmarkettechnology.com titled 'NewMarket -- Worldwide Strategies Webcast.'

Mr. Samuels' letter to shareholders is included in its entirety below.

Dear Fellow Shareholders

I am just finished with my week in Dallas working on the merger agreement with NewMarket Technology, Inc. I am pleased and enthusiastic about our progress. I encourage you to listen to the webcast that Philip Verges, the CEO of NewMarket, and I conducted together. It is available on the homepage of the NewMarket corporate website at www.newmarkettechnology.com. This letter here is to supplement our status communication on the merger and to alternatively provide information to anyone that might not be able to access the webcast.

I am confident that the terms we discussed in our meetings are the right steps for achieving a national exchange listing that can align the underappreciated fundamental financial value of NewMarket's operations with an improved share price and build a foundation for accessing the strategic capital to empower accelerated growth. The terms we agreed to outline a public company with an uncomplicated capital structure and a manageable balance sheet. I believe a straight forward capital structure and financial statement will optimally situate a post merger Worldwide for a national exchange listing application process. The operations to be combined into Worldwide are sustainable and do not need capital to survive. Under the terms agreed to by the respective management teams we do not have any pressing debt obligations. With no need for capital to sustain operations and no debt obligations that exceed the operations capacity to service, there is no need to issue new stock. With the magnitude of the existing operation to be combined into Worldwide that is free from an immediate need for additional capital and, in combination with the business plan potential for growth in 2010 and beyond, we can reasonably achieve the minimum share price requirement to qualify for a national exchange listing.

In my experience, the resources available to achieve the stated objective are adequate for the task at hand and in fact, I have achieved more in the past with less. I am confident the strategy agreed to in our meetings can work to deliver the stated objective, and I am confident the meetings this week have laid the ground work for an execution of our first step together before the end of this year -- the NewMarket Latin American operation merger with Worldwide.

Thank you,
James Samuels
CEO
Worldwide Strategies, Inc.

About NewMarket Technology, Inc. (www.newmarkettechnology.com)

NewMarket is a reporting company with audited financial reports filed with the SEC. 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. Last year the Company reported over $40 million in revenue from Asia and over $20 million in revenue from Latin America. Overall, NewMarket reported over $95 million in revenue for 2008.

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 has 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.

About Worldwide Strategies, Inc.

Worldwide Strategies, Inc. is a development tool stage business that has built a proprietary affinity marketing process and system to provide clients with outsourced services including multi-language capabilities. The affinity market business has signed several substantial contracts but has not established significant revenue.

"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 provisions 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 the Company'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:
    Worldwide Strategies, Inc.
    303-991-5887

    NewMarket Technology, Inc.
    Investor Relations
    214-733-3065
    ir@newmarkettechnology.com