TORONTO, Feb. 25, 2004 (PRIMEZONE) -- Witnet International, Inc. (previously traded on the OTCBB under the symbol WTNT) announced today that it has changed its name to KSign International, Inc. (OTCBB:KSIG). Effective immediately its new trading symbol will be KSIG. It will remain on the OTCBB. At the same time, the company announced a 10:1 reverse split of its common shares.
Dr. Ki-Yoong Hong, has been appointed President and Chief Executive Officer. Also appointed, as Vice President, was Mr. Seoung-Rag Choi and as Chief Financial Officer, Mr. Hong-Kee Lee.
The changes are a result of the completed acquisition of KSign Co., Ltd. of Seoul, Korea by the company.
KSign's main product line relates to PKI, Public Key Infrastructure, solutions which issue digital certificates to authenticate people with digital signature. The solution uses public key cryptography algorithms, which can replace paper signed documents with digital forms.
KSIGN's PKI solutions, which were developed under fundamental PKI can also be used to provide the following features to e-commerce applications in a wireless environment:
-- Issuance of certificates -- registration of users -- timestamps -- real-time certificate verification -- entrust key -- recover key
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.