CAMARILLO, Calif., July 2, 2004 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK) today announced the results of its proxy voting from its annual meeting of shareholders held June 30, 2004 in Ventura, California.
Robert Steele, Chairman and CEO of Quintek commented, "We are pleased at the overwhelming vote of confidence from the shareholders of Quintek, which was exhibited in the voting on these important corporate issues." He added, "Quintek has made substantial progress over the last twelve months with the support of its customers, vendors and employees. We've restructured debt, created new lines of business, added key employees and attracted a new president with significant sales generating experience in the document management space.
All issues proposed in the company's recent proxy were passed. These issues were:
-- Election of Robert Steele and Andrew Haag as Directors;
-- Proposal Ratifying Kabani & Co. as the company's auditors;
-- Amendment to increase the number of authorized shares of Common
Stock to 200,000,000 and to increase the number of authorized
shares of preferred stock to 50,000,000;
-- Amendment to authorize the Board of Directors to divide the
Preferred Stock into any number of classes or series, fix the
designation and number of shares of each such series or class,
and alter or determine the rights, preferences, privileges and
restrictions of each class or series of Preferred Stock not yet
issued, Amendment to authorize a quorum for any shareholder
meeting to be at least one third (1/3) of the shares entitled to
vote;
-- To approve and adopt the Quintek Technologies, Inc. 2004 Stock
Option Plan.
Steele added, "We are receiving solid traction from our Quintek Services, Inc (QSI) team. The revenues, partnerships and growth that we are experiencing should be evident in the recent current quarter that ends September 30th. With the continuing support of everyone involved with the company, Quintek should realize its goals for FY 2005 and beyond."
About Quintek
Quintek Technologies, Inc. has been a manufacturer of hardware and software and a service provider to the corporate and public sector markets since 1991. The Company's new division, Quintek Services Inc. (QSI) delivers Business Process Outsourcing (BPO) services and Information Lifecycle Management (ILM) solutions to document intensive industries such as public utilities, healthcare, insurance, financial, legal, telecommunications and manufacturing.
The solutions and services the Company provides enable organizations to secure and manage their information and document business processes more efficiently. The Aberdeen Group, a provider of IT market intelligence, forecasts 13 percent annual growth for the BPO industry through 2005, when the market is projected to reach $248 billion.
"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 Quintek to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Quintek's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2002 and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Quintek 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.