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DataLogic Releases Letter to Shareholders
IRVINE, Calif., Nov. 15 /PRNewswire-FirstCall/ -- DataLogic International,
Inc., (OTC Bulletin Board: DLGI; Berlin, Frankfurt Stock Exchange: 779612) a
technology and professional services company providing a wide range of
consulting services, telecommunications products such as VoIP equipment, and
GPS vehicle tracking devices, today released a letter to shareholders
discussing recent events.
To Our Valued Shareholders,
I want to take this opportunity to address the confusion and concerns that many
of our shareholders have expressed regarding the recent press release incident.
As a part of our plan to expand into the retail VoIP market, we had been in
discussions, for several weeks with a large, publicly traded, internet company
-- I will call them the partner company -- to provide a retail sales venue for
our VoIP equipment. Upon learning from a conversation that the partner company
had agreed to the terms of our agreement, DataLogic prepared and issued a press
release on November 11, 2004, signaling that the deal had been signed. This
press release offended the partner company. They asked DataLogic to issue a
press release admitting our mistakes. We complied.
I'd like to explain to our shareholders how this happened, how we have
addressed the issue and how this affects our strategy going forward.
We made two mistakes in issuing our press release and I apologize to our
shareholders for these errors. First, we thought that the agreement referred
to in this press release was signed because we had received an email
commitment. Per their instruction, we executed our part and forwarded on our
signed document for the counter party signature. We had been told that a fax
with the executed agreement would be arriving shortly. After the announcement
was made, we were told by the partner company that they were unable to send a
fax copy because of an incorrect fax number. Because we did not have in our
possession the executed agreement, the announcement was premature.
Our second mistake was in misunderstanding a response we received from our
partner's representative. We had asked them if we could quote them and issue a
press release announcing our agreement. We misunderstood their response which
was clearly negative on the quote (which we gladly took out of the release),
but which also meant that we could not issue a press release about our
relationship at all.
We now have a better understanding of our partner's policies and operation. We
are working with them to look forward, beyond this incident, and toward a
mutually beneficial goal.
This unfortunate and unpleasant event has not deterred us from our objective to
enter and succeed in the very large consumer VoIP market. As we stated when we
initiated our efforts in the retail VoIP arena, we intend to enter global
strategic alliances with various retail channels to market and sell our
products. In the future, we will make every effort to prevent mistakes when
issuing press releases about these alliances.
We hope that this clarifies the confusion that some of you may have. We at
DataLogic are working hard toward a brighter future for our company and we
thank you, our shareholders, for your understanding and support during this
growth phase.
Sincerely,
Keith Nguyen
President DataLogic International, Inc.
About DataLogic International, Inc.
DataLogic International, Inc. is a technology and professional services company
providing a wide range of consulting services and telecommunications products
such as VoIP phones, videophones, communications servers and GPS vehicle
tracking devices. The company also provides Information Technology outsourcing
and consulting services. DataLogic's clients include U.S. and international
governmental agencies as well as a variety of international commercial
organizations. For more information, please visit DataLogic International's
web site at http://www.dlgi.com/.
This news release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, regarding, among other things, our plans,
strategies and prospects, both business and financial. Although we believe that
our plans, intentions and expectations reflected in or suggested by these
forward-looking statements are reasonable, we cannot assure you that we will
achieve or realize these plans, intentions or expectations. Forward-looking
statements are inherently subject to risks, uncertainties and assumptions. Many
of the forward-looking statements contained in this news release may be
identified by the use of forward-looking words such as: believe, expect,
anticipate, should, planned, will, may, intend, estimated, and potential, among
others. Important factors that could cause actual results to differ materially
from the forward-looking statements we make in this news release include market
conditions and those set forth in reports or documents that we file from time
to time with the United States Securities and Exchange Commission. All
forward-looking statements attributable to DataLogic International or a person
acting on its behalf are expressly qualified in their entirety by this
cautionary language.
For further information, please contact Donna Dolan, Investor Relations of
DataLogic International, +1-949-260-0120, ext. 204, .
DATASOURCE: DataLogic International, Inc.
CONTACT: Donna Dolan, Investor Relations of DataLogic International,
+1-949-260-0120, ext. 204,
Web site: http://www.dlgi.com/