SAN JOSE, Calif., Oct. 6, 2003 (PRIMEZONE) -- Semotus Solutions (AMEX:DLK), a leading provider of software for mobile enterprise applications, announced today that Byrne Investment Research, an independent research firm paid by the Company, provided outside analysis and review of Semotus' business plan, operations and financial fundamentals. The results were recently provided to Semotus in a research report reflecting a fair value target price of $3.50 per share. The report can be found on the Company's website at www.semotus.com.
"Quality independent research for small cap stocks has become increasingly difficult to obtain. Semotus is pleased to have secured the services of Byrne Investment Research," stated Anthony LaPine, Semotus CEO. "Tom Byrne has 20 years experience writing research for small companies and is well respected in his field. This report examines Semotus' business model in depth and should be of value to our shareholders."
About Semotus Solutions
Founded in 1993, Semotus Solutions (AMEX:DLK) is a premier provider of software for the mobile enterprise connecting employees to critical business systems, information and processes. With a Fortune 1000 installed base and more than 600 corporate customers including Lockheed Martin, Blue Cross Blue Shield, Coca-Cola, Hewlett Packard, Nextel Communications, JP Morgan-Chase, and The United Nations, Semotus Solutions' software provides mobility, convenience, efficiency and profitability in the areas of workforce automation, finance, healthcare, and m-commerce. Semotus Solutions is proud to be included in the Deloitte & Touche 2002 "Technology Fast 500" list of companies. www.semotus.com
This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "intends," "believes" and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.