SOURCE: Worldwide Strategies

October 19, 2009 10:30 ET

Worldwide Strategies, Inc. Announces Strategic Meeting in Dallas to Finalize Agreement to Acquire Operation With Potential to Realize $50 Million in Profitable 2010 Revenue

DENVER, CO--(Marketwire - October 19, 2009) - Worldwide Strategies, Inc. (OTCBB: WWSG) last week released updates regarding the company's planned transaction with NewMarket Technology, Inc. (PINKSHEETS: NWMT). Senior management from the companies are scheduled to meet in Dallas, Texas, this week to finalize the agreement. NewMarket has announced an agreement to merge its operations headquartered in Brazil with Worldwide. NewMarket's operation in Brazil has approximately $20 million in annual revenue with anticipated growth to $50 million in annual revenue in 2010. The planned transaction with Worldwide would result in an independent listing of NewMarket's Brazilian operation, while the financial results of the operation in Brazil would continue to be consolidated into the NewMarket financial statement. NewMarket's systems integration operation in Brazil is an Oracle partner with fourteen years' experience in the region and a portfolio of over 300 customers, including Wal-Mart Brazil, DHL, Embraer, Avon, L-Oreal, Hitachi, and Brasil Telecom.

Joint Webcast Hosted by Former Dallas Federal Reserve Chairman and Retired Major General Hugh G. Robinson

This Thursday, October 22, Worldwide and NewMarket are scheduled to release an on-demand Webcast to discuss the transaction. Former Dallas Federal Reserve Chairman and Retired Major General Hugh G. Robinson, a board member of NewMarket, is slated to host the presentation. A link to the Webcast will be posted on the NewMarket Technology corporate website www.newmarkettechnology.com upon release.

Worldwide CEO Letter to Shareholders

Last week, Worldwide CEO James Samuels released a letter to shareholders. The letter is addressed to the shareholders of NewMarket and NewMarket Latin America, Inc. as well as the shareholders of Worldwide. Mr. Samuels discusses the plan for the three companies to achieve a national exchange listing and improved share price with a potential to achieve a 400% to 500% increase in the resulting market capitalization.

Mr. Samuels' letter discussing the strategy is available here: http://www.marketwire.com/press-release/Worldwide-Strategies-1060124.html.

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