| Forecross® Corporation (OTCBB: FRXX), a leading
legacy and year 2000 solution company, announced today that it has signed a
non-exclusive joint marketing agreement with Alydaar Software Corporation (NASDAQ: ALYD),
a North Carolina-based provider of large-scale IT business solutions. This agreement
allows the companies, which each have Y2K solutions in a broad selection of computer
languages, to supplement their offerings. Commenting
on the agreement, Bernadette C. Castello, Senior Vice President of Forecross Corporation,
said, "Both Forecross and Alydaar have extensive, complementary experience providing
services in their unique computer language niches. This partnership encourages wider
distribution and extends greater service offerings to our clients."
Forecross also announced it has signed its first contract
through the new marketing agreement with Alydaar Software Corporation. Under this
contract, Forecross will use its Complete/2000® solution and automated factory in San
Francisco to bring into year 2000 compliance certain CSP applications belonging to a
customer of Alydaar.
In addition, Forecross Corporation announced today that it
has signed two contracts with an undisclosed service provider to complete independent
validation and verification on certain applications totaling in excess of three million
lines of code belonging to that provider's customers. Forecross will use its
Confirm/2000TM service, an automated software-based process. Confirm/2000 is designed to
help Y2K project managers judge the degree of compliance on fully and partially-completed
year 2000 renovation projects.
Finally, in January 1999, the Company sold in a private
placement 418,333 shares of common stock at $0.75 per share, resulting in gross proceeds
of $313,750.
About Forecross
Founded in 1982 as a high-technology software development laboratory, Forecross
Corporation is dedicated to the design and development of innovative conversion software.
Clients have included such leading corporations as Aetna Life Insurance Company, Brown
Brothers Harriman & Company, Charles Schwab & Co., BDM Technologies, Inc., IBM
Corporation and Bank of America NTSA for its Migration software services. Teaming partners
of Forecross Corporation for its Complete/2000 offerings include AASKI Technologies, Ltd.,
TRW, Inc. (BDM International), CIBER, Inc., Information Sciences Group, Inc., NCR
Corporation, Marconi Information Systems (a business division of Marconi North America
Enterprise Solutions, formerly known as Tracor, Inc.), SCB Computer Technology, Inc., and
Sapiens Americas (a subsidiary of Sapiens International). |
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Except for historical information contained herein, the matters set
forth in this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance, market
demand, pricing, changing regulatory environment, changing economic conditions, risks in
new product and service development, the effect of the company’s accounting policies
and other risk factors detailed in the Company’s SEC and BCSC filings.
The U.S. Securities and Exchange Commission has not reviewed and does
not accept responsibility for the adequacy or accuracy of this News Release, which has
been prepared by the Company.
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