Contact Information: Contact: Worldwide Strategies, Inc. 303-991-5887
Worldwide Strategies Inc. Appoints Philip M. Verges, CEO of NewMarket Technology, Inc., to Board of Directors as Part of Mobile Technology Partnership
| Source: Worldwide Strategies, Inc.
DENVER, CO--(Marketwire - June 17, 2008) - Worldwide Strategies, Inc. (OTCBB : WWSG ) today
announced the Company has appointed Mr. Philip M. Verges, CEO of NewMarket
Technology, Inc. (OTCBB : NMKT ), to its board of directors. This move is
part of a strategic partnership to build a comprehensive mobile computing
technology business as first announced in our joint LOI in February 2008.
The partnership will acquire firms within the segment as previously
announced over the next year.
James P.R. Samuels, Chief Executive Officer of Worldwide Strategies Inc.,
stated, "The Company is beginning to change its focus and requires
different skills on our board to meet the changing requirements of our
business. Mr. Philip Verges, Chairman and Founder of NewMarket Technology,
Inc., has a strong technical understanding of this industry and has himself
developed the NewMarket Technology firm from infancy to consistent growth
and profitability. His leadership and strong technical ability will be an
excellent asset to our board."
Philip M. Verges stated, "Working with Mr. Samuels is a privilege. His
extensive experience in corporate finance has been instrumental in the
development of key acquisition opportunities. With Mr. Samuels'
credentials and participation, NewMarket and World Wide together have been
able to build an acquisition pipeline with opportunities of substantial
magnitude, quality and existing brand recognition. I anticipate the
NewMarket and Worldwide partnership to be a summit event for the
shareholders of both Companies, enabling each to reach even higher future
summits."
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About Worldwide Strategies, Inc. (www.wideinc.com)
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.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket helps clients maintain the delicate balance between maintaining
legacy systems and gaining a competitive edge from the latest technology
innovations. NewMarket provides certified integration and maintenance
services to support the prevailing industry standard solutions such as
Microsoft, Cisco Systems, SAP, Siebel and Sun Microsystems. Concurrently,
NewMarket continuously seeks to acquire emerging technology assets to
incorporate into an overall product portfolio carefully packaged to
complement the prevailing industry standard solutions.
NewMarket delivers its portfolio of products and services through its
network of Solution Integration subsidiaries in North America and the
leading emerging markets around the world to include Latin America, China
and Singapore.
NewMarket ranked Number One in Texas, Number Three in the United States and
Number Five in North America on Deloitte's 2006 Technology Fast 500, a
ranking of the 500 fastest growing technology, media, telecommunications
and life sciences companies in North America. Rankings are based on
percentage revenue growth over five years, from 2001-2005. The Company grew
from less than $1 million in revenue in 2001 to $93.1 million in revenue
and $7.3 million in net income in 2007.
"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 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.