ROCHESTER, N.Y., March 16, 2004 (PRIMEZONE) -- Communication Synergy Technologies Inc. (ComSynTech) (Pink Sheets:CSYT), a business solutions company, is pleased to announce that the Company's CEO, Seth Borg, was the subject of a recent story in the Rochester Business Journal.
The copy below is reprinted from Volume 19, Number 49, March 5, 2004 Daily Edition, located at: http//www.rbjdaily.com.
"It is always a mistake to bet against Seth Borg," says Howard Berman, vice chairman of Lifetime Healthcare Cos., formerly Excellus Inc. "He is a prudent risk taker who has a terrific track record of success. And if I had to bet, I would bet on success."
"Seth Borg is president and CEO of Communications Synergy Technologies Inc. The Brooklyn native is best known locally as the former managing partner and co-founder of Borg Imaging Group LLP, which has some 130 employees and six locations." Borg successfully sold the Imaging Group but remains on as a consultant.
"At ComSynTech, Borg oversees the firm's efforts to build a presence in the marketplace. The firm employs 10 staffers at its offices on Allens Creek Road, and projections call for growth to 21 employees within a year. New hires will be in product development, market support and sales, Borg says. The size of the company is driven by the success we can control... ComSynTech aims to post $1 million in revenues for 2004 and reach the $20 million mark by 2006."
"ComSynTech has raised $2.8 million in private capital, up from $1.9 million last October. The move toward taking the company public was to garner the resources to really launch this Company," said Peter Palermo II, ComSynTech's chairman and founder and CEO of management consultancy Strategic Triangle Inc."
"ComSynTech's three products include InForm, which is aimed at medical practices. It helps increase efficiencies by providing physicians with a translation program that links each client's billing and patient registration program to a server. It was launched in 2001 and operates in a $4.8 billion medical specialties information-and-practice solutions market. Agfa-Gevaert Group's health care unit in 2001 bought $500,000 worth of InForm products. Sales are expected to top $500,000 this year Borg says."
"ComSynTech's other products focus on general business communications. CDV1000Document Vault, a document preservation product, is an electronic filing system designed to capture, manage, annotate and prepare documents for permanent preservation. Users can preserve documents for up to a century. "Four trillion documents are created globally each year with 50 percent growth annually," Borg explains. "One percent, or 40 billion documents, must be preserved, not just stored, for up to and exceeding 100 years." The technology has captured the attention of Eastman Kodak Co. (NYSE:EK) The photo giant has partnered with ComSynTech to integrate Document Vault into its products, such as Kodak's i9600 Series Writers, a business document management system."
Borg is excited about ComSynTech's potential. He projects the company will exceed Borg Imaging's growth. "There is a different motivation here," Borg says. "While I will never stop being a physician, the business I am now in is driven by financial opportunity and maximizing it. I see myself continuing to grow this company, to exceed our own expectations."
For more information or a reprint of this article, please contact the Company at: info@comsyntech.com, or sjacob@rbj.net/ 585-546-8303.
About ComSynTech
Communication Synergy Technologies Inc. (ComSynTech) develops and markets document creation, management and preservation systems for medicine, industry, finance and government.
The products developed by ComSynTech provide efficiency, flexibility and improved quality by automating the creation, capture, management, distribution, archiving, preservation and retrieval of voice and word documents across multiple markets.
ComSynTech products and development platforms integrate with and complement existing technologies, accelerating time-to-implementation.
"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of ComSynTech to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in ComSynTech's reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and ComSynTech assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.