Message #5 From:
Stock News Bot Date: March 29, 2005 08:19:37 AM
NXCN Nexicon Inc. Repurchases 15 Million Shares Associated with SatSecure; Arrangement Enables Company to Zero in on Recently Introduced New Business Strategy
Nexicon Inc. Repurchases 15 Million Shares Associated with SatSecure; Arrangement Enables Company to Zero in on Recently Introduced New Business Strategy
ALBUQUERQUE, N.M.
Nexicon, Inc.
Richard Urrea, 505-248-0000
or
CCG Investor Relations
Crocker Coulson, 818-789-0100
crocker.coulson@ccgir.com
Nexicon, Inc. (OTCBB:NXCN) ("the Company"), a leading provider of secure and efficient networking and communication solutions, today announced that it has repurchased 15 million shares of the Company's common stock held by Mr. Robert Demson. In exchange for the shares, Mr. Demson will receive computers and equipment valued at $15,213 and all rights, titles, and interest that the Company has in agreements associated with the SatSecure technology and to the trade names Orion Security Services, Inc., OSSI, Ossi-Secure, SatSecure, SatWatch and RECON 9000 (collectively, trade names). The agreement also spells out the payment schedule for debt owed to Mr. Demson from the original purchase of OSSI.
The transaction only affects SatSecure, Nexicon's video surveillance system with military and government uses, and does not include ComSecure, which is Nexicon Security System's scalable IP network control and management solution, or the Nexicon Billings Systems division.
"This repurchase is a result of the continually more focused execution of our recently revised business model and enables us to concentrate on core business opportunities in billing and network security. Both technologies are seamlessly complementary and enable us to offer unique integrated solutions that address both complex billing situations and today's cyber security challenges. Furthermore, this repurchase allows us to greatly reducing our overhead by no longer duplicating the highly trained and qualified staff which the recent acquisition of Pluto, now Nexicon Billing Systems, brought with it," commented Richard Urrea, Chief Executive Officer of Nexicon, Inc.
As part of the amicable agreement, Mr. Demson will be available for consulting with current customers and will continue to bring new business opportunities to the Company.
About Nexicon
Nexicon offers all-in-one or issue-specific management solutions for network control, cyber security, operational support systems, and billing systems, enhancing clients' capabilities to provide information services and energy utilities more efficiently and more securely to a broader base of consumers. Nexicon is headquartered in Albuquerque, NM, near the Los Alamos, White Sands, and Sandia National Labs.
Nexicon's wholly-owned subsidiary Nexicon Billing Systems, formerly Pluto Communications International AS, based in Lysaker, Norway is a leading supplier of infrastructure software supporting the delivery of services over advanced networks including fixed wireline and mobile telephony; cable, satellite, and digital TV; internet; and energy utilities. Its CHARON solution, a next-generation platform, combines network management modules for the integration, provisioning, invoicing, and maintenance of end-users, all via a convergent interface. Nexicon's integrated billing systems offer easy installation, low infrastructure costs, and value-added service, and enable service providers to innovate, streamline, and position for growth, while maintaining a cohesive, efficient billing and customer service management system.
Nexicon's wholly-owned subsidiary Nexicon Security Solutions, formerly Orion Security Services, Inc. (OSSI), based in McLean, VA, features ComSecure, a new breed of scalable IP network control and management solution which delivers an industry leading video reconnaissance and surveillance system, a development IP packet inspection kernel engine, an "all-in-one" secure IP network management appliance and scalable telecom billing & OSS solutions.
Nexicon Billing System's core data extraction engine can be used as a stand-alone solution or in conjunction with Nexicon Comsecure Security Solutions, offering industry-leading, individual solutions for large and small corporations that facilitate a company's billing processes while maintaining an unparalleled level of network security.
For an online discussion forum on Nexicon visit www.equitygroups.com.
Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made based on management's belief as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors, including those identified in Nexicon, Inc. Information Statement Filing and its Annual Report on form 10-KSB for the year ended December 31, 2003, and its Quarterly Report on Form 10-QSB for the three months ended September 30, 2004; June 30, 2004; and March 31, 2004; as filed with the Securities and Exchange Commission.
