LOS ANGELES (February 20, 2002) -Vertical Computer Systems, Inc. (OTCBB:VCSY), and Strategic Media Alliance (SMA) have announced the termination of their joint venture, Worldbridge Webcasting, LLC.
SMA will assume all interests in Worldbridge Webcasting, LLC, a webcasting production and distribution company, which will become a wholly-owned subsidiary of SMA.
“We have determined that it would be a more effective use of our resources to concentrate on our core technology business, Emily™ and SiteFlash™. However, we look forward to a continuing working relationship with Strategic Media Alliance as they provide consultant services in marketing for our various products”, Richard Wade, President of VCSY said.
Vertical Computer Systems, Inc. (OTCBB:VCSY) is a multinational provider of Web services, underpinning Web technologies, and administrative software services through its Global Partners System, a worldwide distribution network. Vertical provides Web applications and services targeted at specific market needs in business and government organizations, such as emergency response, news media, procurement, education, ecommerce, and human resources. Vertical also provides underpinning Web and Internet technologies that can be leveraged across all of its target markets. Vertical’s software products include the Emily™ XML Enabler Agent, ResponseFlash™, SiteFlash™, UniversityFlash™, Newsflash™, and the Focal Point Search Engine™.
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.
Vertical Computer Systems, Inc.