8 August 2006, 10:14am ET
DALLAS, Aug 08, 2006 (BUSINESS WIRE) --
NewMarket Technology, Inc. (NMKT) today released further details regarding the joint reorganization plan with Intercell International Corporation. NewMarket CEO Philip Verges was interviewed by WallSt.net regarding the Company's overall business growth from $2.3 million in revenue in 2003 to over $50 million in revenue in 2005 with a current forecast for $65 million in 2006. The interview featured topics such as the public listing of its Chinese operation through the reorganization agreement with Intercell.
In a supplemental statement, Mr. Verges outlined several highlights to be anticipated as a result of the reorganization agreement with Intercell:
1. Intercell was dismissed from bankruptcy proceedings in April and, accordingly, the Q appended to the symbol will be removed. 2. Intercell will be renamed "NewMarket China" and the IICPQ symbol will be changed. 3. NewMarket will be issued preferred stock that represents a majority of the overall Intercell shareholder voting rights. 4. NewMarket has no plans to execute a reverse split of the Intercell common stock. 5. NewMarket expects $20 million in annual revenue in 2006 from its Chinese operations, which will be reorganized into Intercell. 6. Chinese operational results will be reported under the reorganized Intercell. NewMarket will continue to consolidate the financial results from the Chinese operations into its overall financial report. 7. NewMarket management plans to issue Intercell stock in a dividend to NewMarket shareholders. Details and timing of the stock dividend have yet to be determined.
In the WallSt.net interview, Mr. Verges further explains how the reorganization of its Chinese operations with Intercell marks a watershed event in the ongoing growth and development of NewMarket's overall business. Mr. Verges plans to release a letter to the shareholders of both NewMarket and Intercell later this week to further explain the reorganization agreement, benefits to all shareholders and the overall significance of the transaction.
To hear the interview in its entirety, visit www.wallst.net, and click on "Interviews." Interviews require free registration, and can be accessed either by locating the respective company's ticker symbol under the appropriate exchange on the left-hand column of the "Interviews" section of the site, or by entering the respective company's ticker symbol in the Search Archive window.
To be added to NewMarket's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@newmarkettechnology.com.
About NewMarket Technology Inc. (www.newmarkettechnology.com)
NewMarket Technology, Inc. has combined a traditional systems integration and support services capacity with a specialized asset-based approach to assisting its clients with 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 to include Microsoft (NASDAQ:MSFT), Cisco Systems (NASDAQ:CSCO) and Sun Microsystems (NASDAQ:SUNW). Concurrently, NewMarket continuously seeks to acquire undiscovered emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions.