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Edited by Christopher Simmons, senior news editor
GTDATA Corp. to Pursue Buyer for TSLi
SIMI VALLEY, Calif. - Nov. 13, 2003 /Send2Press Newswire/ -- GTDATA
Corp. (OTC BB: GTDT) announced today that the company's board of
directors has approved pursuing a buyer for the operations of its wholly
owned subsidiary, Technical Services and Logistics, Inc. (TSLi). The
Company's goal is to sell the operations of TSLi, thereby allowing
GTDATA to continue in a different direction.
The decision was based on TSLi's deteriorating financial condition,
which has worsened since TSLi lost several of its key customers earlier
this year. The Company does not expect to reap any financial benefit
should it be able to sell TSLi's operations. There can be no assurance
that the Company will be able to consummate such a transaction, and in
the event that it can't, the Company will most likely be forced to
liquidate TSLi.
Safe Harbor Statement:
Statements in this news release that are not purely historical are
forward-looking statements within the meaning of the safe harbor clause
of the Private Securities Litigation Reform Act of 1995. These
statements are made based upon information currently available to the
Company, and the Company assumes no responsibility to update or revise
such forward-looking statements. Editors and investors are cautioned
that forward-looking statements invoke risk and uncertainties that may
cause the Company's actual results to differ from such forward-looking
statements. These risks and uncertainties include, without limitation,
general economic conditions and other factors that may be more fully
described in the company's literature and periodic filings with the
Securities and Exchange Commission. This news release is not a
solicitation to buy or sell securities, and it does not purport to be a
complete analysis of the Company's financial position.
Organization Website: n/a
Source of News:
GTDATA Corporation
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