CALVERTON, N.Y., May 28, 2004 (PRIMEZONE) -- AdZone Research, Inc. (OTCBB:ADZR), a pioneering provider of Internet surveillance technology, reported today that its Chairman & CEO, Charles A. Cardona III, has issued the company's second monthly operational report to shareholders. The full text of his message follows:
May 28, 2004
Dear Fellow Shareholders:
It's very gratifying to report, in this second monthly operating overview, that by any measure, May has been a significant month in the company's history. It's even more gratifying to report that future months will provide additional validation that will be measurable, both in additional funding, revenues and other contractual developments. So in that spirit, I would like to thank all those shareholders who have stayed the course, and even chose in recent months to add to their holdings in support of the company, as well as to welcome the many new shareholders who apparently have joined your ranks in the past week alone.
Last week's announcement of our first truly significant funding of up to $1,750,000 will enable us to both build the infrastructure to help grow our defense business as well as provide the opportunity to also develop the commercial sector of our business, especially given the continued upward trend in Internet advertising revenues.
The announcement this week of our signing an agreement with a major federal government entity is also extremely significant, not only in terms of the revenues we anticipate from this agreement to provide our proprietary NetGet(tm) technology over a significant period of time, but also in the context of the validation that has been given to our technology by the very source of revenues that fuel many of the major defense contractors with whom we have relationships that we have already identified, and others that we have not yet revealed.
While we are extremely pleased with the results of our marketing efforts, we intend to press ahead. In fact, with our recent increased financial strength, we intend to be even more aggressive in pursuing additional contracts we are currently working on, as well as exploring other expanding opportunities. The pursuit of any government or defense related contract always is challenging, and often can take years. But our team in Washington, Dan Wasserman and General Paul Weaver, have done a wonderful job of pushing the envelope, and getting this much needed capability into the right hands where it can do the most good.
We have a terrific team, and will soon be adding capabilities to further enhance our abilities. As a company, we strive to provide more than just a simple return on investment.
We are very excited about the prospects in the coming months and, as promised, we will provide a monthly update on the company's progress.
I want to personally thank all who believed in AdZone for their patience and support of our company and our truly remarkable team. We believe they, like AdZone, will prosper.
Sincerely, Charles A. Cardona III Chairman & CEO
AdZone Research is headquartered in Calverton, N.Y., in a facility that formerly housed major defense contractor Northrop Grumman Corporation. The facility was earlier used for top-secret defense research and development, and was part of the United States Navy's Naval Defense Technology Center.
Through monitoring of more than 500,000 Web sites worldwide, AdZone provides tracking and monitoring of targeted information on the Internet, with an expanded focus on global Internet analysis of security-related data transmissions. For additional information, please visit the company's Web site at http://www.adzoneresearch.com. Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.