New Name Conveys Primary Driver for the Company's Future Shareholder
Value and Growth
CAMARILLO, Calif., March 29 /PRNewswire/ -- Pacific Diagnostic
Technologies (OTC Bulletin Board: PDTK) today announced that it is changing
its name to Quintek Technologies, Inc. (OTC Bulletin Board: QTEK) and that the
Company's stock will now be traded on the Over-the-Counter Bulletin Board
under ticker symbol "QTEK." Both changes are effective immediately.
On January 14, 1999, Pacific Diagnostic completed of the acquisition of
Quintek Corporation which resulted in the resignation of Pacific Diagnostic
management. Quintek Corporation, became a wholly owned subsidiary of Pacific
Diagnostic, and officially took over the management of the Company. Quintek,
with its proprietary imaging technology, is a world leader in digital
information archiving and is positioning its products and services as the
driver of future shareholder value and growth.
Thomas W. Sims, President and Chief Executive Officer of Quintek
Technologies, said, "The management team acted to change the name of the
company to Quintek Technologies to better convey the business -- with its
products and services -- that will be the basis for future growth of this
company. As a privately held company, Quintek became a leading supplier of
chemical-free aperture card imaging equipment and related software solutions
for the archiving of digital information. Now, with our access to investment
capital in the public markets, we are better able to capitalize on our strong
technology position and product base by further penetrating target markets and
are well positioned to implement and pursue our growth strategy for Quintek in
1999 and beyond. The name change reflects our dedication to supporting and
growing Quintek's substantial future prospects and enhancing shareholder value
through our efforts."
Quintek's Products
Quintek's 4300 product provides for the archiving, distribution and
storage of engineering drawings in a condensed, eye-readable aperture card
format for such industries as construction, electronics, defense, automotive,
machinery, amusement parks, ship building, oil drilling/refineries, utilities,
railroads, government and aerospace, among others. The Company expects to
effectively compete in the market due to its position as the key stable
back-up technology for currently unstable digital archiving solutions such as
floppy disk, CD-ROM and DVD. In addition, Quintek's significant cost savings
and lack of chemicals in the archiving process, place the Company with
substantial advantages over competitive products.
Quintek Technologies, Inc.
Quintek Technologies provides products and services to insure against loss
of digital data in the event of on-site catastrophic events (fire, flood, and
earthquake), technology obsolescence, year 2000 roll-over, computer virus,
computer failure, software or hardware incompatibility and degradation of
digital storage media. With several years of development and strategic
positioning in place, The Company is initiating a large-scale sales and
marketing initiative during 1999. Quintek's corporate office is located in
Camarillo, California, with manufacturing facilities in Idaho and Sweden, and
Sales & Marketing operations in Washington, DC.
Forward-Looking Statements
This news release may contain forward-looking statements concerning the
business and products of the Company. Actual results may differ materially
depending on a number of risk factors, including, but not limited to the
following: risks associated with growth stage companies, economic conditions,
competition and dependence on key personnel. The Company undertakes no
obligation to revise or update any forward-looking statements to reflect
events or circumstances after the date of this release.
SOURCE Quintek Technologies, Inc.
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Related links:
http://www.quintek.com
CONTACT:
Thomas W. Sims President and CEO of Quintek
Technologies, Inc., 805-383-3904; or Stacy Roughan, General
Information, 310-442-0599, or Eileen Morcos, Investor/Analyst
Contact, 310-442-0599, or Mary Tokita, Media Contact,
310-442-0599, all of The Financial Relations Board for Quintek
Technologies, Inc.
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