SOUTH PLAINFIELD, N.J., Aug. 16, 2004 (PRIMEZONE) -- Vertex Interactive Inc. (OTCBB:VETX), a provider of software technology for order fulfillment and warehouse management, today announced that it has received a final $750,000 of additional gross proceeds under its previously announced agreement with the NIR Group, through its Family of Funds, pursuant to which the Funds have agreed to provide to Vertex up to $3 million principal amount in connection with the sale of 10% Senior Secured Convertible Redeemable Notes.
About Vertex Interactive
Vertex Interactive is an international provider of supply chain management technologies. Vertex offers a comprehensive range of software systems and tools, from point solutions, to integrated end-to-end hardware and software solutions, for enterprise-wide and collaborative supply chain optimization.
Safe Harbor
Certain statements contained herein may be forward-looking in nature and are therefore subject to risks and uncertainties that could cause actual results to differ materially. The company's recent acquisition history, progress toward completing the integration of its acquisitions, history of operating losses, current expense levels compared with its sales, and the state of development of its product portfolio, coupled with the overall economic and competitive operating environments pose a number of risks investors should take into consideration in connection with assessing the company's financial and operating results. A more detailed discussion of these and other important risk factors can be found in the documents filed with the Securities and Exchange Commission on forms 10-K and 10-Q.
Towards the end of each fiscal quarter, Vertex Interactive will have a 'Quiet Period' when Vertex Interactive and its representatives will not comment concerning previously published financial expectations, and the company disclaims any obligation to update during the Quiet Period. The public should not rely on previously published expectations during the Quiet Period. Investors should not expect that these forward-looking statements will be updated or supplemented as a result of changing circumstances or otherwise, and Vertex Interactive disavows and disclaims any obligation to do so.
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