SOURCE: NexTechFAS

May 14, 2008 08:00 ET

NexTechFAS Provides Company Update to the Financial Community

AUSTIN, TX--(Marketwire - May 14, 2008) - NexTech Solutions, Inc. (PINKSHEETS: NXSL) and FAS Holdings Group, LLC, jointly doing business as "NexTechFAS," are pleased to provide a company update to its shareholders and the financial community.

Financial Reporting

Because of the recent merger transaction, the company is currently undergoing a lengthy financial audit of NexTech Solutions, FAS Holdings Group and related companies. This is a necessary step in order for the company to pursue a fully-reporting status. Upon completion of these audits, the company will make them available on their Web site at: http://www.nextechfas.com.

Outlook for 2008

The company's outlook for this year is strong with a current order backlog of $9.82 million. These are firm orders that have already been received by the company and are in various stages of manufacturing. Included in the order backlog are purchase orders the company recently announced from Plastic Logic Limited, RPO and the most recent order by a leading photovoltaic company. The order backlog consists primarily of coater and AOI product orders, software, support and services.

This year, the company has successfully made inroads into the emerging flexible, touch screen and OLED display markets as well as the solar energy industry which are of strategic importance due to their vast and fast growing market potential. Of the current total order backlog, 64 percent is attributed to flexible, touch panel and OLED display applications, 15 percent from orders in the solar market segment and LCD accounting for 21 percent.

"While we are very excited about the current order backlog and the progress made within the marketplace, we also remain very optimistic about the growing order pipeline and will continue to aggressively pursue those throughout the remainder of the year," stated Tony Di Napoli, president and CEO of NexTechFAS.

SID/Cowen and Company Display Investors Conference

The company has recently been invited to the SID/Cowen and Company Display Investors Conference, held at the Annual Society for Information Display (SID) Investors Conference on May 20 and 21, 2008 as a part of Display Week. This is a prestigious invitation and the speaking engagement is expected to continue bringing high visibility to the company because of its attendance by top industry analysts, media and institutions.

About NFJV, LLC

NFJV, LLC, doing business as "NexTechFAS," is the operating company of NexTech Solutions, Inc. (Stock Symbol: NXSL) and FAS Technologies, LLC, a result of a pending merger transaction between the two companies. NexTech Solutions currently owns approximately 52 percent of NexTechFAS and will own 100 percent upon completion of the final step of the merger transaction. NexTechFAS is a Delaware limited liability company with facilities in Austin and Dallas, Texas. The company is widely recognized in the industry for the development of digital fluid dispensing and a patented extrusion coating (spinless coating) technology known as "FAS-Coat," which has become the de-facto standard in the coating processes used in the manufacture of flat panel displays (FPDs). The company also delivers advanced metrology and automation solutions, and is the first to deliver a turn-key solution for manufacturing lines in the FPD, photovoltaic and semiconductor industries. NexTechFAS's stock is quoted on the Pink Sheets under the symbol NXSL. For more information, visit: http://www.nextechfas.com.

Forward-Looking Statements

This release may include forward-looking statements that involve risks and uncertainties. Any forward-looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. Specific risks include delays in new product development and delivery, product performance and quality issues and the acceptance of our current and new products by the FPD and semiconductor markets. Certain statements contained in this press release, such as statements concerning our sales pipeline, our backlog, our projected sales and financial performance, possible or assumed future results of operations; future revenue and earnings; and business and growth strategies, statements containing the words "may," "assumes," "forecasts," "positions," "predicts," "strategy," "will," "expects," "estimates," "anticipates," "believes," "projects," "intends," "plans," "budgets," "potential," "continue," "targets" "proposed," and variations thereof, and other statements contained in this press release regarding matters that are not historical facts are forward-looking statements. Because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: uncertainties involving development-stage companies; uncertainties regarding project financing, the lack of binding commitments and/or the need to negotiate and execute definitive agreements for development and financing of products; financing and cash flow requirements and uncertainties; the uncertainty of general business and economic conditions, including the potential for a slowdown in business and expenditures in the display and semiconductor industries; the impact of product competition; the company's need for additional funds, and the difficulties the company may face in obtaining such funds.

Contact Information

  • Investor and Public Relations Contact:
    Mercom Capital Group, LLC
    1-512-215-4452
    Email Contact