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NewMarket Extends Reach Into Earlier Stage Technologies as Part of Strategic Plan to Enhance Shareholder Value and Grow From $77 Million to $500 Million in Revenue.
NewMarket Technology, Inc. (OTCBB: NMKT) today released a follow-on letter to shareholders providing further details on the Company's recently announced plan to grow the company from $77 million in profitable revenue to $500 million in revenue as part of the five year strategic plan. Today's letter is part of a three week series of letters on detailing the various aspects of the Company's strategic plan. On June 19, the Company will celebrate its five year anniversary since launching an innovative business model to incubate emerging technologies. NewMarket was recognized in 2006 in the Deloitte Technology Fast 500 as the third fastest growing technology company in the United States. After growing from $1 million in breakeven annual sales to $77 million in profitable annual sales in 2006, the Company is renewing its strategic plan for the next five years of rapid growth.
Today's letter highlights NewMarket's expansion into earlier stage technologies. NewMarket has built a portfolio of early, but "ready for market" technologies over the last five years. Now the Company will begin to acquire earlier stage, "first to market" technologies yet to be developed into market-ready solutions. As part of this expansion into earlier stage technologies, NewMarket is establishing a subsidiary to concentrate on the acquisition of intellectual property (IP) and Philip Verges, CEO and Chairman of NewMarket, has recently joined the board of directors of the Enable Intellectual Property Commercialization Corporation (OTCBB: EIPC).
The letter to shareholders from NewMarket CEO and Chairman Philip Verges is included in its entirety below.
Dear Fellow Shareholders,
NewMarket has initiated an exciting expansion into earlier stage technologies. Five years ago, our business plan was just a business plan with little to no funding. We did not have the luxury of working with "first to market" technology opportunities. To conserve our limited resources at the time, NewMarket concentrated on "ready for market" technologies. While we have enjoyed rapid revenue growth and respectable net income traction, we have missed out on the lucrative return on investment potential associated with a "first to market" technology.
Five years down the road and with more resources at our disposal, we are extending our reach into earlier stage technologies. We are launching two initiatives to enable this extended reach into earlier stage technologies. First, we are starting an intellectual property (IP) subsidiary that we are currently referring to as NewMarket IP. We are in the process of acquiring our first proprietary technologies into NewMarket IP. We have over 20 patents in the acquisition pipeline. In addition to launching our own IP initiative, we have also recently established an early relationship with an already established intellectual property development company. I have recently joined the Board of Directors of Enable Intellectual Property Commercialization Corporation (OTCBB: EIPC).
Independently Listed NewMarket IP Subsidiary and NewMarket Technology Dividend
NewMarket IP will be dedicated to acquiring and developing earlier stage concept technologies. We are currently seeking patented or patent-worthy, concept-stage technologies ready for development, but not yet ready for market deployment.
NewMarket Technology recently announced signing a letter of intent agreement to acquire GreenThread, LLC. GreenThread is a development-stage company with patent-pending flash memory technology that can substantially enhance system performance with particular application to consumer products such as MP3 players. In April, the CEO of GreenThread visited our operations in China to begin development plans for GreenThread's proprietary technology into a "first to market" solution.
The letter of intent with GreenThread is the second agreement signed by NewMarket with inventor and engineer G. R. Mohan Rao. Mr. Rao and his assembled technical team collectively have over 50 years of DRAM, SRAM, EPROM and Flash EPROM design experience. Jointly, the team holds over 100 patents.
NewMarket will directly share the return on investment potential of the earlier stage emerging technology IP with NewMarket Technology shareholders by distributing 20% of the new subsidiary to NewMarket Technology shareholders. The planned dividend distribution will be a one for one issue -- one share of the subsidiary to be issued for every one share of NewMarket Technology stock held.
The completion of the acquisitions currently under letter of intent and the dividend distribution is subject only to priority workload. NewMarket's three initiatives listing its first three public subsidiaries are not without their own unexpected complications. Around NewMarket, one often hears the motto "if it were easy, everyone would do it." We have almost completed the priority workload associated with these three initiatives and anticipate shortly being able to accelerate the completion of the pending NewMarket IP acquisitions and dividend distribution.
Enable Intellectual Property Commercialization Corporation (OTCBB: EIPC)
Recently, I have joined the Board of Directors of Enable Intellectual Property Commercialization Corporation (Enable IPC) (OTCBB: EIPC). While our companies share many philosophies on early stage technology development, Enable IPC is a step ahead of us and already focuses on "first to market" intellectual property. Currently, Enable IPC is focused on developing power devices using advances in thin films and nanotechnology. Their products include microbatteries for very low power applications (utilizing nanowires as small as 1/1000th the diameter of a human hair) and ultracapacitors for a wide range of power applications (utilizing nanoparticles on carbon). These complementary products will be ideal for use in a variety of applications. The microbattery is targeted for use in healthcare products, RFID tags, smart cards and many other applications while the ultracapacitor is to be used in consumer electronics.
More to Come
This correspondence and the following letters to shareholders over the next few weeks will communicate more details on our strategic five year plan. The Company continues to improve and we look forward to even more dramatic growth over the next five years than what we have achieved in our first five years.
CEO and Chairman
NewMarket Technology, Inc.
To be added to NewMarket's corporate e-mail list for shareholders and interested investors, please send an e-mail to .
About NewMarket Technology, Inc.
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, Cisco Systems, SAP, Siebel and Sun Microsystems. 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. NewMarket ranked Number Five on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001-2005. The Company grew from less than $1 million in revenue in 2001 to over $50 million in profitable revenue in 2005.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
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NewMarket Technology, Inc.
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