GraphOn Corp. Terminates GraphOn China Ltd. Joint Venture;
Dissolution Not Expected to Have Any Negative Financial Impact on GraphOn Corp;
(EMAILWIRE.COM, September 11, 2001 ) MORGAN HILL, CA, USA and BEIJING, CHINA –– GraphOn Corporation (Nasdaq: GOJO) (http://www.GraphOn.com), developer of award-winning infrastructure software that instantly web enables Windows, UNIX, and Linux applications, today announced it had terminated its joint venture with Hong Kong-based Tianjin Development Holdings, following GraphOn's determination that it was not satisfied with the joint venture's performance and its inability to significantly penetrate the China market. The dissolution, by mutual agreement with Tianjin Development Holdings, is not expected to have any negative financial impact on GraphOn Corporation.
GraphOn has established its own offices in China to market, sell, and support GraphOn's GO-Global web enabling software products throughout Asia and will retain the services of former GraphOn China Ltd. President, Danny So.
"Free from the constraints of the joint venture, which was not making progress in the spirit of our agreement, GraphOn is now able to immediately move forward with customer sales and reseller agreements originally generated by Danny So," said GraphOn CEO and President, Walt Keller. "We have named Danny So as Managing Director of our Asian operations, which will be conducted under the name GraphOn Asia Pacific and will continue to develop the market under his leadership."
"I am excited about GraphOn's new status in Asia," said Danny So. "I look forward to shifting GraphOn Asia Pacific into high gear to build sales opportunities for our GO-Global software with appropriate multinational enterprises and business partners headquartered throughout Asia."
About GraphOn Corporation
GraphOn's award-winning software allows any display device to run Windows, UNIX or Linux applications over any type of connection, including low-bandwidth, dial-up, and wireless. GraphOn's products instantly web enable applications without any software modification, offering organizations of all types a high performance, cost effective way to bring their applications to the web world -- TODAY. GraphOn, which markets its solutions through OEM licenses, independent software vendors (ISVs), application service providers (ASPs), value-added resellers (VARs) and systems integrators, is headquartered in Silicon Valley and is traded on the Nasdaq under the ticker GOJO (Nasdaq: GOJO). For more information, please visit the company's web site at http://www.GraphOn.com.
This press release contains statements that are forward looking as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These statements are based on current expectations that are subject to risks and uncertainties. Actual results will differ due to factors such as shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables. Readers are referred to GraphOn's most recent periodic and other reports filed with the Securities and Exchange Commission.
GraphOn and GO-Global are registered trademarks of GraphOn Corp. All other trademarks belong to their respective owners.
GraphOn has established its own offices in China to market, sell, and support GraphOn's GO-Global web enabling software products throughout Asia and will retain the services of former GraphOn China Ltd. President, Danny So.
"Free from the constraints of the joint venture, which was not making progress in the spirit of our agreement, GraphOn is now able to immediately move forward with customer sales and reseller agreements originally generated by Danny So," said GraphOn CEO and President, Walt Keller. "We have named Danny So as Managing Director of our Asian operations, which will be conducted under the name GraphOn Asia Pacific and will continue to develop the market under his leadership."
"I am excited about GraphOn's new status in Asia," said Danny So. "I look forward to shifting GraphOn Asia Pacific into high gear to build sales opportunities for our GO-Global software with appropriate multinational enterprises and business partners headquartered throughout Asia."
About GraphOn Corporation
GraphOn's award-winning software allows any display device to run Windows, UNIX or Linux applications over any type of connection, including low-bandwidth, dial-up, and wireless. GraphOn's products instantly web enable applications without any software modification, offering organizations of all types a high performance, cost effective way to bring their applications to the web world -- TODAY. GraphOn, which markets its solutions through OEM licenses, independent software vendors (ISVs), application service providers (ASPs), value-added resellers (VARs) and systems integrators, is headquartered in Silicon Valley and is traded on the Nasdaq under the ticker GOJO (Nasdaq: GOJO). For more information, please visit the company's web site at http://www.GraphOn.com.
This press release contains statements that are forward looking as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These statements are based on current expectations that are subject to risks and uncertainties. Actual results will differ due to factors such as shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables. Readers are referred to GraphOn's most recent periodic and other reports filed with the Securities and Exchange Commission.
GraphOn and GO-Global are registered trademarks of GraphOn Corp. All other trademarks belong to their respective owners.
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Dissolution Not Expected to Have Any Negative Financial Impact on GraphOn Corp;
Dissolution Not Expected to Have Any Negative Financial Impact on GraphOn Corp;
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