Business Services Industry
NewMarket Technology, Inc. First Independent Listing of a Consolidated Subsidiary, NewMarket China, Files 2006 Annual Report
Business Wire, Jan 17, 2007
NewMarket China/Intercell International Corp. Annual Report Opens New Chapter for Company with Innovative Technology Service in China and 2007 Revenue Forecast of $40 Million
DALLAS -- NewMarket Technology, Inc. (OTCBB:NMKT) announced today that the annual report for Intercell International Corp. (OTCBB:IICP) has been filed on SEC Form 10KSB. NewMarket recently acquired a controlling interest in Intercell as part of strategy to independently list subsidiary operations. After acquiring Intercell International, NewMarket reorganized its subsidiary operation in China into Intercell. The Intercell annual report filed yesterday reflects Intercell's results of operations through the fiscal year ended September 30, 2006. NewMarket's acquisition of Intercell and the reorganization of NewMarket's Chinese subsidiary into Intercell were finalized after the Intercell fiscal year end, therefore the Annual Report does not reflect the operational results of NewMarket China. Intercell's first quarter 2007 report will begin to reflect the operational results of NewMarket China.
NewMarket's Chinese Operation will report approximately $20 million in revenue in calendar year 2006. The company has forecasted a 100% increase in revenue for 2007 to $40 million. NewMarket's forecast of rapid growth in China is based on expanding partnerships and the organic growth of clients. NewMarket Technology management has set a corporate goal of achieving $100 million in profitable revenue in Fiscal Year 2008.
NewMarket Technology, Inc. and NewMarket China, Inc. will present the companies' unique perspective on the High Tech Market and Investment Opportunities for Emerging Technologies in Beijing, China, on January 29, 2007.
To attend the presentation in Beijing and to be added to NewMarket's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@newmarkettechnology.com.
Independently Listed Subsidiaries to Enhance Overall Shareholder Value
An integral part of NewMarket's long-term business plan is to independently list subsidiaries, while the parent company retains and maintains a majority interest to allow for consolidation of subsidiary financials in to NewMarket's financials. In addition, the subsidiary listings offer investors interested in a specific market sector or geographical region of operations to be able to invest in a focused investment. NewMarket will issue stock in the subsidiary operations to NewMarket shareholders in dividend distributions after the subsidiaries have progressed in terms of additional revenue growth.
In addition to the recent public listing of the company's Chinese operation, NewMarket has begun the process to publicly list two more subsidiaries, specifically, NewMarket Broadband, Inc. and NewMarket Latin America, Inc. The cumulative 2007 forecasted revenue of the three subsidiary operations to be listed independently is $80 million.
NewMarket Broadband, Inc. $10 Million in Forecasted 2007 Revenue
NewMarket recently announced an LOI agreement with Diamond I, Inc. (OTCBB:DMOI) to combine operations with NewMarket's Wi-Fi operations creating another NewMarket publicly listed subsidiary. NewMarket also recently announced a second LOI agreement to acquire a majority interest in its affiliate Wi-Fi operation, RedMoon, Inc. (http://biz.yahoo.com/bw/070109/20070109005776.html?.v=1). RedMoon will be combined into Diamond in conjunction with NewMarket's acquisition of a majority interest in Diamond. The combined NewMarket, Diamond and RedMoon operations will create a multi-industry Wi-Fi solution provider with a 2007 revenue forecast of $10 million.
RedMoon has designed, engineered and deployed mesh network solutions, providing high-speed Internet service, security surveillance, automatic meter reading and mobile broadband for municipalities. In 2006, RedMoon and Chevron Energy Solutions, a Unit of Chevron Corporation (NYSE:CVX), signed a contract with the City of Burleson, Texas, to construct a wireless broadband network and implement an automatic water meter reading pilot project. http://www.chevronenergy.com/news_room/default.asp?pr=pr_20060329.asp
NewMarket Latin America, Inc. $30 Million in Forecasted 2007 Revenue
NewMarket announced a letter of intent (LOI) agreement to combine its Latin American operations into Paragon Financial Corp. (OTC:PGNF) with NewMarket becoming the majority shareholder in Paragon. NewMarket currently has over $20 million in profitable annual revenue from its Latin American operations located in Venezuela, Brazil and Chile. NewMarket has forecasted $30 million in profitable revenue for 2007.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket helps clients maintain 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), SAP (NYSE:SAP), Siebel (Nasdaq:ORCL) 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. NewMarket delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore. NewMarket maximizes shareholder return on investment by independent listing of consolidated regional and emerging technology subsidiaries in order to issue subsidiary stock in shareholder dividends.
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