RICHARDSON, Texas, June 23 /CNW/ -- Vertical Computer Systems Inc (OTC
Bulletin Board: VCSY)(www.vcsy.com) is pleased to announce it has purchased
Priority Time Systems, Inc. (Priority Time Systems) from Mark Arredondo and
retained Mr. Arredondo as its President. Under the terms of the stock
purchase agreement, VCSY purchased a 90% interest in Priority Time Systems
from Mr. Arredondo. Priority Time Systems is currently finalizing its time
and attendance software which will be coupled with a competitive time clock.
Once completed, Priority Time Systems' product will be a comprehensive time
and attendance application that will compete with the leading competitors in
Mark Arredondo is an industry veteran in employer services, with a
particular expertise in payroll and time-management. Mr. Arredondo began his
career in Las Vegas with ADP, a payroll and human resource provider, and
worked his way up to Regional Sales Manager, the top position in the office,
where he managed 12 sales reps. He and his team in Las Vegas quickly became
one of the top-producing sales offices in the country.
Later, he became a Vice President of Sales and an equity partner with
Compu-Cash Systems (Compu-Cash), a Kronos reseller, and sold time and labor
products to such companies as The Venetian, Wynn Las Vegas, Station Casinos,
The Palms, Hard Rock, and Caesar's among many others. Mr. Arredondo later
sold his ownership stake in Compu-Cash.
"We believe there is a great synergy between the two companies and their
respective products. Priority Time Systems' time and attendance product can
be fully integrated with emPath(R), the payroll and human resources product of
NOW Solutions, VCSY's wholly owned subsidiary, to meet the needs of its
clients. Initially, NOW Solutions will focus on its healthcare and
governmental clients and VCSY will also sell the Priority Time Systems product
separately," stated Richard Wade, President and CEO of Vertical Computer
Systems, Inc. "We are confident that Mark Arredondo, who was a top performer
for ADP as well as Kronos, can provide the expertise to successfully launch a
time and attendance product utilizing the newest web-based technology."
"I am extremely pleased to join the VCSY family and to have the
opportunity to finalize the completion of the time and attendance product I
have been developing to capitalize on what I perceive to be a significant
weakness of existing market leaders," added Mark Arredondo, President of
Priority Time Systems, Inc. "I am confident that we will be able to greatly
enhance the value of the company's HR and payroll software with our time and
Forward looking statements disclosure: This release contains
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which
represent the Company's expectations or beliefs concerning future events. When
used in this release, the words "expects," "plans," "anticipates,"
"indicates," "believes," "forecast," "guidance," "outlook," "may," "will,"
"should," "seeks," "targets" and similar expressions are intended to identify
forward-looking statements. Similarly, statements that describe the Company's
objectives, plans or goals are forward-looking statements. All forward-looking
statements in this release are based upon information available to the Company
on the date of this release. The Company undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result of new
information, future events, or otherwise. With the exception of historical
information contained herein, the matters discussed in this press release
involve risk and uncertainties. Actual results could differ materially from
those expressed in any forward-looking statement.
About Vertical Computer Systems, Inc.
Vertical Computer Systems, Inc. (OTCBB: VCSY) is a provider of
administrative software, Internet core technologies, and derivative software
application products through its distribution network. VCSY's main
administrative software product is emPath(R), which is developed and
distributed by NOW Solutions, Inc., the Company's wholly-owned subsidiary.
EmPath(R) is a payroll and human resources software application, which
consists of a fully secure web based HRMS suite as well as a
Software-as-a-Service (SaaS) solution. VCSY's primary Internet core
technologies include SiteFlash(TM), ResponseFlash(TM), NewsFlash(TM), and the
Emily XML Scripting Language, which can be used to build web services.
Information on VCSY and its products can be obtained on the World Wide Web at
For further information:
For further information: Vertical Computer Systems, Inc.,
+1-817-348-8717, PRinfo@vcsy.com Web Site: http://www.vcsy.com