MOUNTLAKE TERRACE, Wash., Oct. 1 /PRNewswire-FirstCall/ -- Cognigen
Networks, Inc. (OTC Bulletin Board: CGNW- news), the Seattle area based
Internet-enabled marketer of communications services and certificated
reseller, reported that Thomas S. Smith had resigned as president and CEO.
Gary Cook, Cognigen's CFO, was appointed by the board of directors to serve as
president and CEO. Mr. Smith, who was appointed president in December 2003,
will serve as Cognigen's legal counsel. He will continue to serve as a member
of Cognigen's board of directors.
Christopher R. Seelbach, chairman of Cognigen's board of directors,
commenting on Mr. Smith's departure said, "We are grateful for the valuable
achievements and dedication to service Tom Smith has provided Cognigen. The
Company stands better prepared to fully realize its potential because of his
leadership in crafting a fiscally sound, durable and responsive corporate
structure. We shall continue to benefit from his advice and sound judgment as
our legal counsel as well as the broad experience he has contributed as a
member of our board."
Mr. Seelbach continued, "Gary Cook, will serve as the Company's president
until a successor is appointed by the directors who will be elected at our
regular shareholder meeting scheduled for November 16, 2005. As board
chairman I shall work closely with Mr. Cook in executing our business plan in
a timely and effective manner."
About Cognigen
Cognigen Networks, Inc., based in metropolitan Seattle, Washington, offers
a wide range of telecommunication services and related technology products via
its Web site, http://www.cognigen.com. Cognigen's robust marketing engine
harnesses distribution channels featuring a prominent Internet presence, a
network of independent agents and several affiliate groups, each having their
own customized Web site. Cognigen's agent initiated sales as well as those
generated directly off its main website are fulfilled via proprietary software
utilizing the Internet. The Company sells its own proprietary services under
the Cogni label as a certificated reseller and carrier, and resells the
services of industry leaders such as 2Speak, AccuLinq, Inphonic Cellular,
ShopForT1, Convergia, IBN Tel, MCI Neighborhood, Pioneer Telephone, OPEX,
PowerNet Global, Speakeasy, UniTel and Trinsic / Z-Tel. Cognigen is
authorized to operate as an interstate and international carrier under Section
214 of the rules of the Federal Communications Commission and is regulated by
some state public utility commissions as a reseller of interstate and
intrastate long distance telecommunications services. Since August of 1999,
Cognigen has sold, on behalf of its vendors and for its own account, services
and products to approximately 820,000 customers worldwide. Each of the
approximately 134,000 persons, who currently are registered as Cognigen
agents, has a website that is replicated from the main http://www.ld.net site. This
extraordinary Internet presence contains millions of pages that have gained
for Cognigen's principal website the number one ranking among long distance
telecommunication marketing websites based on the number of unique visits and
pages viewed by Ranking.com. In point of fact, Cognigen and its agents
account for 11 of the top 27 long distance telecommunication websites rated by
Ranking.com.
The information herein contains forward-looking statements, including,
without limitation, statements relating to Cognigen Networks, Inc. Although
the Company believes that the expectations reflected in the forward-looking
statements are reasonable, no assurance can be given that such expectations
will prove to be correct. The forward-looking statements involve risks and
uncertainties that affect the Company's business, financial condition and
results of operations, including without limitation, the Company's possible
inability to become certified as a reseller in all jurisdictions in which it
applies, the possibility that the Company's proprietary customer base will not
grow as the Company expects, the Company's inability to obtain additional
financing, the Company's possible lack of producing agent growth, the
Company's possible lack of revenue growth, the Company's possible inability to
add new products and services that generate increased sales, the Company's
possible lack of cash flows, the Company's possible loss of key personnel, the
possibility of telecommunications rate changes and technological changes and
the possibility of increased competition. Many of these risks are beyond the
Company's control. The Company is not entitled to rely on the safe harbor
provisions of Section 27A of the Securities Act of 1933, as amended, or
Section 2lE of the Securities Exchange Act of 1934, as amended, when making
forward- looking statements.
SOURCE Cognigen Networks, Inc.
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Related links:
http://www.cognigen.com
CONTACT:
Gary Cook, +1-720-895-1912 voice,
+1-720-895-1917 fax, gary@ld.net
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