Message #35 From:
Stock News Bot Date: August 18, 2005 05:24:00 AM
WSRT News Pike Capital Management, LLC Enters into Non-Disclosure Agreement with WindsorTech d/b/a QSGI
HIGHTSTOWN, N.J.--(BUSINESS WIRE)--Aug. 18, 2005--WindsorTech, Inc. (OTCBB: WSRT) d/b/a QSGI, today announced that it has entered into a Non-Disclosure Agreement with Pike Capital Management, LLC, due to Pike Capital's significant investment in WindsorTech, Inc. and its desire to assist in QSGI's business development efforts. Pike Capital Management, LLC is the general partner of Pike Capital Partners, LP, a private investment partnership, which holds 1,714,650 shares of common stock, or approximately 6% of WindsorTech's total shares outstanding.
Under the agreement, Pike Capital Management, LLC, which does not have a representative on the company's board of directors, may, at QSGI's discretion, have access to non-public material information about the company.
"In today's environment of heightened data security concerns and increasing regulatory compliance requirements, it's difficult to identify a company or individual who doesn't need a comprehensive solution like those provided by QSGI. We are delighted that the QSGI management team will allow us to assist it in serving the marketplace and building long-term shareholder value," said Daniel W. Pike, managing member of Pike Capital Management, LLC. "I encourage other shareholders to take an active role in helping the company with introductions to potential customers. As shareholders, our thoughtful introductions have the potential to make substantial contributions to QSGI as Marc and his team work to create value for us all."
Commenting on the agreement, Marc Sherman, chairman and chief executive officer of Windsor Tech, said, "Dan has demonstrated his commitment and his strong belief in our business strategy by helping us with several valuable introductions and, at times providing corporate advice. We welcome his continued assistance and we are very pleased to have him working with us. From our perspective, this agreement represents the first step in creating an advisory board for WindsorTech. Our hope is to harness the energy and talents of our committed shareholders to help us build an outstanding company."
About WindsorTech
WindsorTech Inc., d/b/a QSGI, manages the information technology (IT) products of Fortune 1000 and government clients, and provides global solutions for meeting its clients' data security and regulatory compliance needs. QSGI offsets its clients' expenses through its value-added remarketing program. Prior to resale, the company utilizes its proprietary Department of Defense (DOD) level certified data sweep to eliminate otherwise recoverable data. QSGI reduces its clients' potential liability, by ensuring regulatory and environmental compliance for IT products. QSGI also maintains and provides services on enterprise-class hardware, including mainframes, midrange servers, tape storage products and disk storage products. Given the sensitive nature of the company's client relationships, it does not provide the names of its clients.
Statements about WindsorTech's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. WindsorTech intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and WindsorTech's actual results could differ materially from expected results. WindsorTech undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
