WindsorTech's Wholly Owned Subsidiary, QualTech Services Group, Signs Asset Management Agreement With Somerset Capital Group

WindsorTech, Inc., (OTCBB:WSRT) a Data Security and Environmental Compliance service company, announced today that QualTech Services Group, its wholly-owned subsidiary has signed an asset management agreement with Somerset Capital Group, Ltd. to become a provider for warehousing, auditing, refurbish...

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Bibliographic Details
Published inBusiness Wire p. 1
Format Newsletter
LanguageEnglish
Published New York Business Wire 11.08.2004
Subjects
Agreements
Asset management
Capital leases
Compliance
Contracts
Financial services
Leasing companies
Mainframes
Operating leases
Portfolio management
Software
Software industry
Hightstown New Jersey
HIGHTSTOWN, N.J
United States > US
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Summary:WindsorTech, Inc., (OTCBB:WSRT) a Data Security and Environmental Compliance service company, announced today that QualTech Services Group, its wholly-owned subsidiary has signed an asset management agreement with Somerset Capital Group, Ltd. to become a provider for warehousing, auditing, refurbishment and reconfiguration work for Somerset's off-lease IBM mainframe hardware. QualTech will remarket the assets into the used IBM mainframe marketplace to maximize investment recovery for Somerset. The total value of mainframe assets under management is approximately $7 million. Statements about WindsorTech's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. WindsorTech intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and WindsorTech's actual results could differ materially from expected results. WindsorTech undertakes no obligation to update forward- looking statements to reflect subsequently occurring events or circumstances.