Y3K Secure Entp Sftw (NASDAQ:YTHK)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Y3K Secure Entp Sftw Charts. Click Here for more Y3K Secure Entp Sftw Charts.](/p.php?pid=staticchart&s=N%5EYTHK&p=8&t=15)
Y3K Acquires the Complete Technology Assets and Intellectual Property Rights
Related to ICS Secure Collaborative Communications Platform
SEATTLE, WA, Feb. 25 /PRNewswire-FirstCall/ -- Y3K Secure Enterprise Software,
Inc., (OTC/BB: YTHK), an end-to-end unified communications and technologies
company serving the small to medium sized business market, announced today the
purchase of all of the underlying technology related to its ICS Secure
Collaborative Communication platform from Karunga Technologies Corporation, the
developer of the ICS platform. Under the terms of the transaction, Y3K has
acquired sole, exclusive, world-wide rights to the technology, the source code
and all of the development tools related to the ICS platform.
Prior to this purchase, Y3K and Karunga Technologies were operating under a
joint development agreement whereby Karunga Technologies and Y3K shared the
responsibility for the continuing development of the ICS platform. Prior to the
purchase, the profits derived from the sale and distribution of the ICS platform
were split on a 50%-50% basis between the two companies. Pursuant to this
purchase, all further development of the ICS platform will be done by Y3K and
all of the profits will be retained by Y3K.
The acquisition of the material assets of Fox Communications and the purchase of
100% of the rights to the ICS technology and source code completes the final
step in positioning Y3K as a company that is able to completely and fully
execute on its business plan to provide a complete end-to-end unified
communications package to the small to medium sized business market. In addition
to the acquisition of all of the ICS technology, Y3K has extended employment
contracts to the primary developers of the technology as well as to key
management of Karunga Technologies.
By combining voice communications traditionally offered by telephone companies
with secure, encrypted data and file transfer, text messaging and e-mail on a
single platform from one provider (see the Executive Summary at
http://www.ythk.com/); Y3K is now positioned to emerge as a leading company in
the world of complete communications solutions.
"Following the acquisition of the material assets of Fox Communications, the
further development of our VoIP platform and the recent partnership with
Corinex, this latest step in our planned expansion allows Y3K to continue on its
current growth path to secure a leadership position as one of the few companies
nationwide to provide complete voice and secure communications and technologies
to small and medium sized businesses," stated King Cole, President of Y3K.
"Y3K and Karunga Technologies have enjoyed a great partnering arrangement over
the last several years. This purchase by Y3K marks the completion of a major
milestone in the combined vision of the two companies and paves the way for Y3K
to take a strong leadership position in providing the next generation of fully
integrated communication products and services," stated Shane Smith, President
and CEO of Karunga Technologies. "The talented research and development team led
by Cedric Griss, founder, CTO and Chairman of the Board at Karunga Technologies
will now, under the new roof of Y3K, integrate IP/PBX voice capabilities onto
the ICS platform and will provide economical, high quality VoIP, call management
and conferencing on a platform scalable to the needs of small to medium sized
business."
The coming together of the two companies will allow Y3K to integrate secure file
and data back up, storage and archiving to provide a manageable and economical
solution for compliance with new increased governmental regulations that is
required by 'Sarbains-Oxley' legislation and HIPPA.
Y3K and its subsidiary, Ecuity Advanced Communications (formerlyFox
Communications), will immediately and fully incorporate the complete package of
Karunga Technologies into their communication packages for the small to medium
business market.
For a complete list of products and services, visit http://www.ythk.com/.
About Y3K Secure Enterprise Software (http://www.ythk.com/)
With corporate offices in Bellevue, Washington, Y3K has emerged as one of the
few providers of complete end-to-end unified communication technologies for the
small to medium business market. Y3K economically delivers secure next
generation voice services, instant messaging, data transfer, long distance
plans, conference calling, internet services, WiFi solutions, and enterprise
software packages designed to meet the communication needs of today's business
world.
Through the integration of web based telecommunications and cutting edge
software technology, Y3K's unified communication solutions break down distance,
time and media barriers to allow people to communicate anywhere, anytime and
across multiple mediums.
Perfectly suited for today's geographically diverse workforce, Y3K's unified
communication solutions and software technologies allow businesses to work
smart, without barriers.
This report includes "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934. The information in this news release includes certain
forward-looking statements that are based upon assumptions that in the future
may prove not to have been accurate and are subject to significant risks and
uncertainties, including statements as to the future performance of the company.
Although the company believes that the expectations reflected in its
forward-looking statements are reasonable, it can give no assurance that such
expectations or any of its forward-looking statements will prove to be correct.
Factors that could cause results to differ include, but are not limited to,
successful performance of internal plans, product development acceptance, and
the impact of competitive services and pricing and general economic risks and
uncertainties.
DATASOURCE: Y3K Secure Enterprise Software, Inc.
CONTACT: Y3K Secure Enterprise Software, Inc., Jennifer Stephens,
(253) 284-2935,