CNH Holdings Company dba Cistera Networks, Inc. Name Change Approved by Shareholders; Name Change Provides Cistera Networks with
25 August 2005 - 9:44PM
Business Wire
CNH Holdings Company dba Cistera Networks (OTCBB:CNHC), a leading
provider of advanced IP phone platforms and engines in the IP
Telephony environment, today announced that it has filed a
Preliminary Information Statement with the SEC reflecting
shareholder approval of an amendment to the Articles of
Incorporation changing the Company's name to Cistera Networks, Inc.
and increasing the authorized shares outstanding from 10,000,000 to
50,000,000. Holders of 60.77% of the outstanding shares approved
the amendment via written consent in lieu of a meeting. Pending the
filing of the definitive Information Statement, the changes are
expected to take effect before the end of the current quarter. In
another filing made on August 24, 2005, the Company filed to
register shares, options and warrants issued in connection with the
acquisition of XBridge Software announced on June 3, 2005, and the
shares underlying convertible notes and warrants issued in the
Company's private placement completed in December 2004. The
4,323,511 shares issued in connection with the acquisition of
XBridge were listed as outstanding in the Company's 10-QSB filed on
August 15, 2005 for the quarter ended June 30, 2005, and 2,849,549
of these shares are held by officers, therefore falling under
insider volume trading restrictions. 3,021,537 of the shares being
registered are associated with the convertible notes and warrants
issued in a private placement and with options and warrants that
were assumed in the acquisition of XBridge, none of which have yet
been issued. "The Cistera Networks name change completes the
restructuring plan that the company began last year. Having all of
the company's operations under a single brand will provide a solid
foundation for us to begin to both build and to leverage the
Cistera brand," said Chief Executive Officer, A. Katrina Roche.
About CNH Holdings Company (dba: Cistera Networks) Cistera Networks
designs, develops and markets XML-based application appliances
utilized in IP Communications environments. The Cistera
ConvergenceServer(TM) combined with a suite of advanced application
engines and applications, enables the integration of voice, video
and data into the network infrastructure (www.cistera.com). This
release may be deemed to contain forward-looking statements that
are subject to the safe harbor provisions of the Private Litigation
Reform Act of 1995. These forward-looking statements include, among
other things, statements regarding future events and the future
financial performance of CNH Holdings Company that involve risks
and uncertainties. Readers are cautioned that these forward-looking
statements are only predictions and may differ materially from
actual future events or results. Readers are referred to the
documents filed by the Company with the SEC, specifically the most
recent reports on Form 10-K and 10-Q, each as it may be amended
from time to time, which identify important risk factors that could
cause actual results to differ from those contained in the
forward-looking statements.
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