LOS ANGELES, CA, July 24, 2001 - Vertical Computer Systems, Inc. (OTC BB: VCSY) and Strategic Media Alliance, Inc. (SMA) have announced that their new venture, WorldBridge Webcasting Services, LLC, has entered into a two-and-a-half year contract with Forbes.com to provide the popular business and financial Web site with weekly webcasts based on company achievements in several industries. The 90-minute programs will feature corporate annual meetings, key quarterly reports, new products, and industry trends, and are expected to generate $3 million in revenue for WorldBridge Webcasting Services, LLC. For example, a keynote address by the Chairman of the Board of Compaq Computer and a profile of the company will be webcast by WorldBridge on theForbes.com site during October, 2001.
“We have been very pleased with the professionalism, timeliness and content of the pilot webcasts we have received and now look forward to an expanded ongoing relationship,” Bruce Rogers, Vice-President of Forbes, said.
Live and on-demand webcasts will be produced by WorldBridge Webcasting beginning the fourth quarter of this year, originating from various Sheraton hotels in the Pacific Rim, the United Nations, the National Press Club in Washington, DC, and from London and Brussels. Webcasts featuring public company earnings and related information have gained prominence since the enactment by the SEC of Regulation FD (Fair Disclosure) which prohibits publicly traded companies from selectively disclosing potentially market-moving information to analysts.
VCSY received a 51% interest in the LLC in exchange for a capital investment when it was formed second quarter this year. SMA is a veteran producer of online and offline video products for IBM, AT&T, United Airlines, Sheraton and Fairmont Hotels and the U.S. Postal Service.
VCSY’s President Richard Wade commented, “Forbes.com is emerging as the leading site for the disbursement of critical business and financial information and, as such, we are particularly pleased to have WorldBridge Webcasting positioned to provide substantial webcast content for Forbes.com.”
Vertical Computer Systems, Inc. (OTC.BB: VCSY) is a technology holding company that acquires and operates best-of-the-breed data management technologies that (i) complement each other and (ii) provide cross-product distribution channels. The power of VCSY's business model is multiplied by its proprietary global distribution system, its Home Country Gateway (HCGs).
Utilizing its growing global network of online HCGs, the company offers B2B, B2G and B2C solutions through its wide range of accessible resources that specifically cater to the needs and desires of targeted communities around the world. VCSY has also acquired Globalfare.com -- a complete online travel information center at www.globalfare.com.
At present, VCSY has five HCGs in operation: www.theWorldBridge.com, www.theIndiaBridge.com, www.theUSBridge.com, www.theBrazilBridge.com, www.theChinaBridge.com, and is working to establish other HCG partnerships, including www.theKoreaBridge.com.
The company is continuously developing Emily(TM) Solutions, (www.emilysolutions.com), proprietary XML-based technology providing unique software for e-commerce, information technologies, Web-based data management and process control. VCSY also offers a free, easy and personalized e-mail service for all Web users (www.thepostmaster.net). For more information, visit the company's Web site at www.vcsy.com.
This release contains, in addition to historical information, forward-looking statements. These statements are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that may cause such a difference include, but are not limited to, competition from other portals, the Company's ability to integrate and market the Emily(TM) software, the market reception to VCSY'S new products, the potential benefits to customers, the conversion of sales leads into customers and the ramp-up of ASP users and other factors over which VCSY may have little or no control such as those described in the Company's filings with the SEC.