|
|
 |
Young Minds, Inc.
Completes Reorganization; Streamlines Operations, Releases
New Products, and Regains Profitability
Redlands,
California, January 14, 2000 - Young Minds, Inc. announced
today that the company has emerged from bankruptcy
effective January 14, 2000. David Cote, Young Minds’
CEO, states:
“The
reorganization plan that has been implemented features
a 100% payback to the creditors. It represents many
hours of hard work by both the management and the
creditors committee. In the past year, the company
has reorganized to streamline operations, cuts costs,
refocus product development. The bottom line is that
we are now profitable and well-positioned to build
the company into a market leader.”
“We
are poised to recapture our technical leadership in
disc storage solutions. Our existing CD Recording
products have received significant enhancements and
we are now in the process of rolling them out to our
resellers and customers. We are in beta testing
with DVD Studio, which promises to be a huge seller
for the company. We have already introduced a Java-based
GUI for our MakeDisc software, and have additional
Java products that are being added to the product
line. We have just released support across all
product lines for Linux. And we now have a unified
product family that features an easy upgrade path,
allowing customers to move from CD to DVD, and to
scale gradually from one-off operation to a fully
functional disc production environment.”
The
five year product development plan that Young Minds
has put in place is designed to ensure that customers
will be able to simply, easily, and economically upgrade
to incorporate the newest CD and DVD technology. Entry
level systems (basic CD Studio systems) will continue
to cost less as the technology declines in price.
Matthew
B. Hornbeck, President of Young Minds, pointed out
the many benefits that customers will be able to derive
from the company’s new Java-based products.
“Building
on Java’s ‘write-once/run anywhere’ capabilities,
allows us to spend more time adding features and
improving ease of use, and less time on porting
issues. We will be accelerating our product
development and software release cycles so we can
offer greater utility and functionality across the
product line. In addition, we can build new add-ons
and tool kits that will help end users and integrators.”
About
Young Minds, Inc.
Founded in 1989, Young Minds, Inc. (YMi) provides
a complete line of network capable DVD and CD Recording
solutions for UNIX, Linux, and Windows NT. YMi
pioneered CD-Recording and CD-ROM mass storage in
the UNIX market, and continues to deliver the most
innovative solutions that are reliable, cost-effective
and easy to use. Andrew Young, Chairman and
co-founder of the company, authored the Rock Ridge
Interchange Protocols which define additional functionality
for ISO 9660 standard discs used in UNIX environments.
Thousands
of YMi systems are in use throughout the world in
business, industry, government agencies and educational
institutions. Young Minds can be reached on
the Internet at http://www.ymi.com, or email marketing@ymi.com.
( Scroll through links above by placing
curser over sides of cd )
|
|
|
Copyright © 2000 - 2003. All Rights Reserved. ARTH International, Inc.
Site Designed by: DCK
Web Designs
|