Business Services Industry
CNH Holdings Company dba Cistera Networks, Inc. Name Change Approved by Shareholders; Name Change Provides Cistera Networks with Strong Foundation for Global Branding
Business Wire, August 25, 2005
DALLAS -- CNH Holdings Company dba Cistera Networks (OTCBB:CNHC), a leading provider of advanced IP phone platforms and engines in the IP Telephony environment, today announced that it has filed a Preliminary Information Statement with the SEC reflecting shareholder approval of an amendment to the Articles of Incorporation changing the Company's name to Cistera Networks, Inc. and increasing the authorized shares outstanding from 10,000,000 to 50,000,000. Holders of 60.77% of the outstanding shares approved the amendment via written consent in lieu of a meeting. Pending the filing of the definitive Information Statement, the changes are expected to take effect before the end of the current quarter.
In another filing made on August 24, 2005, the Company filed to register shares, options and warrants issued in connection with the acquisition of XBridge Software announced on June 3, 2005, and the shares underlying convertible notes and warrants issued in the Company's private placement completed in December 2004. The 4,323,511 shares issued in connection with the acquisition of XBridge were listed as outstanding in the Company's 10-QSB filed on August 15, 2005 for the quarter ended June 30, 2005, and 2,849,549 of these shares are held by officers, therefore falling under insider volume trading restrictions. 3,021,537 of the shares being registered are associated with the convertible notes and warrants issued in a private placement and with options and warrants that were assumed in the acquisition of XBridge, none of which have yet been issued.
"The Cistera Networks name change completes the restructuring plan that the company began last year. Having all of the company's operations under a single brand will provide a solid foundation for us to begin to both build and to leverage the Cistera brand," said Chief Executive Officer, A. Katrina Roche.
About CNH Holdings Company (dba: Cistera Networks)
Cistera Networks designs, develops and markets XML-based application appliances utilized in IP Communications environments. The Cistera ConvergenceServer(TM) combined with a suite of advanced application engines and applications, enables the integration of voice, video and data into the network infrastructure (www.cistera.com).
This release may be deemed to contain forward-looking statements that are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of CNH Holdings Company that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by the Company with the SEC, specifically the most recent reports on Form 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.
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