(NWMT) NewMarket and (CCTR) China Crescent Announce NewMarket CEO Letter to Shareholders
April 01 2011 - 12:29PM
Marketwired
NewMarket Technology, Inc. (OTCQB: NWMT) today announced a letter
to shareholders from CEO Bruce Noller. The letter is a follow up to
an on-demand Webcast released March 17, 2011, by Mr. Noller and
currently available on the Company's website
(http://www.newmarkettechnology.com/wcbn_20100317.htm). NewMarket
and its subsidiary, China Crescent Enterprises, Inc. (OTCQB: CCTR)
are re-focusing on the information technology market. The Companies
provide systems integration services globally, primarily
concentrated within emerging economic regions, including China and
Brazil. In the on-demand Webcast Mr. Noller highlights the
Company's business plan re-focus on systems integration. In the
letter released today, Mr. Noller follows up with more insight into
NewMarket and China Crescent's plans to re-focus on systems
integration. The letter is available on the Company website,
www.newmarkettechnology.com, under "Investor Relations."
Dear Shareholders:
This letter is a follow-up to a Webcast I recently conducted
last week. NewMarket has been rapidly evolving over the past two
years. The purpose of the recent Webcast and this letter is to get
the word out on the Company's latest plans for next steps in the
evolutionary process to enhance shareholder value.
In this letter I provide a brief history of the Company. In an
entrepreneurial approach to deliver on a founding mission to
continuously introduce new technologies to market, the NewMarket
business plan became somewhat complex over time. Management is
working to simplify the business plan and in so doing, enhance
shareholder value. The brief history below will explain how the
business plan became somewhat complex and what management has done
so far to simplify the plan. At the end of the letter I highlight
the most recent steps underway to further simplify the NewMarket
business plan and enhance shareholder value.
2002 - The Original Business Plan
NewMarket's operations today have grown from a business plan
implemented in 2002 in conjunction with the reverse merger of a
private business founded in 1997. The objective of the original
business plan was to continually introduce new technologies to
market. Remember, the late 90s was rich with innovative technology
business plans and the NewMarket plan in 2002 might be fairly
characterized as a holdover from the business plans in vogue in the
late 90s. The first innovative technologies NewMarket worked to
introduce surrounded the then early stage Voice over Internet
Protocol (VoIP) telecommunications business sector.
Systems Integration and Emerging Market Expansion (And
Complexity)
The Company's innovative portfolio grew across a diverse range
of various information technology innovations to include products
and services for the medical, military and logistics markets. To
support the ongoing implementation of new technologies, NewMarket
built a systems integration capacity through acquisition and
organic growth. NewMarket's business plan to continually introduce
new technologies to market took the Company into a number of
emerging economic markets. The Company has substantial operations
today in Brazil and China. Just as innovative technology strategies
were in vogue in the late 90s, emerging market business plans have
similarly been a high-growth trend over the last decade.
The OTC Environment and PIPE Market
As an over-the-counter (OTC) quoted company, NewMarket has
relied on the private investment in public equity (PIPE) market to
access capital to support its evolving business strategy. Both the
OTC environment and the PIPE market have undergone substantial
changes over the past decade, with dramatic changes the past two
years. Those changes have impacted the Company's ability to access
the necessary capital to execute on its business plan. It is also
the opinion of the NewMarket founders and management that the OTC
and PIPE changes have impacted the return potential on shareholder
investment and the manner by which a return can be realized. In
reaction to the OTC and PIPE market changes, NewMarket has worked
diligently over the last two years to simplify and enhance its
business plan in order to move away from ongoing reliance on either
the OTC environment or the PIPE market and to ultimately enhance
shareholder value.
Business Plan Simplification and Shareholder Value
Enhancement
NewMarket has worked to exit the innovative technology market.
Some of the Company's early-stage innovative technology holdings
have been divested or shut down over the past two years
(approximately). Operations today consist primarily of subsidiary
systems integration operations which reside outside the United
States. Instead of developing innovative technologies in house,
NewMarket has worked over the past two years to partner with
innovative technology companies. The partnerships have been
informal, with the intent of learning from the first partnership
approaches and in the future, evolving a formal partnership
approach. Management continues to evaluate the ongoing evolution of
NewMarket's business strategy and objective of enhancing
shareholder value. In the course of that ongoing evaluation,
management has recently decided to discontinue the innovative
technology partnership efforts. Management believes the best course
of action is to continue in further simplifying NewMarket's
business strategy and focus. It is management's opinion that the
sum value of the Company's subsidiary systems integration
operations is greater than the overall value of the Company as
represented by the current share price and corresponding market
capitalization. Therefore, management intends to concentrate all
efforts on improvements to the value of each of the systems
integration operations and work to connect the sum value of the
subsidiary operations more directly to shareholders.
Following the publication of financial results for the 2010
fiscal year, management intends to share more details on the
Company's plan to improve subsidiary systems integration operations
and connect shareholders more directly to the value of the
subsidiary operations. Keep checking back.
Best Regards,
Bruce Noller Chief Executive Officer NewMarket Technology,
Inc.
About NewMarket Technology, Inc.
(www.newmarkettechnology.com)
NewMarket Technology's (PINKSHEETS: NWMT) (OTCQB: NWMT) current
portfolio of operations provides systems integration, technology
infrastructure services and emerging technology. NewMarket's
operations strategically focus on providing technology and support
services in emerging and developing economies with high growth rate
potential 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, Africa, Brazil
and Northern Latin America. Overall, NewMarket reported over $95
million in revenue for 2008 and reported over $98 million in
profitable revenue for 2009.
NewMarket's operations provide services and support for both
brand-name technologies, such as Microsoft, as well as emerging
technologies ranging from mobile computing to various security and
wireless broadband technologies. NewMarket's rapid growth since
2002 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.
"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 provision 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.
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Contact: NewMarket Technology, Inc. Investor Relations Email
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