Ascendia Brands, Inc. – ‘8-K’ for 9/30/04 – EX-99

On:  Tuesday, 10/5/04, at 7:49am ET   ·   For:  9/30/04   ·   Accession #:  1161697-4-768   ·   File #:  1-32187

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         2     10K 
 2: EX-10       Material Contract                                     12     39K 
 3: EX-99       Miscellaneous Exhibit                                  2     10K 

EX-99   —   Miscellaneous Exhibit

EX-99
1st Page of 2
TOC
↑Top
Previous
Next
↓Bottom
Just 1st
 
                                                                    EXHIBIT 99.1

CENUCO (R)                                                                      

COMPANY CONTACT:                        PORTER, LE VAY & ROSE, INC.             

Steve M. Bettinger, President           Vincent Daniels, VP - Investor Relations
561-997-2602                            Margarerit Drgos, VP - Media Relations  
                          Jeff Myhre, VP - Editorial
            212-564-4700

 CENUCO COMPLETES SALE OF EDUCATION SUBSIDIARY

COMPANY TO FOCUS ON GROWTH OF WIRELESS VIDEO MONITORING BUSINESS

BOCA RATON, FL, October 5, 2004 - Cenuco, Inc. (AMEX: ICU) today announced it   
has completed the sale of its online education and distance learning business as
part of the Company's strategy of focusing exclusively on its rapidly growing   
wireless video monitoring business. All assets and operations relating to       
Cenuco's education business have been purchased by an educational specialty firm
focusing on a broad array of educational oriented businesses. The transaction is
combination of cash and notes valued at $1 million with proceeds going into     
Cenuco's general operating funds.                                               

Cenuco's wireless video monitoring applications for residential, small business 
operations and enterprise solutions allow users to view their family members,   
homes, offices, businesses or other important site locations live, on their cell
phone, wireless handheld device or internet connected computer, from anywhere in
the world. In this wireless segment, Cenuco provides cellular carriers, internet
service providers, resellers, and distributors a host of wireless video         
streaming products which generate an increase in subscriber adoption of wireless
data services, as well as broadband internet services. The business model       
provides additional recurring monthly service revenue models for carriers, ISPs,
resellers and distributors. The Company is currently in deployment negotiations 
and/or testing relationships with a number of international and national        
cellular carriers, retail chains, major distribution providers, resellers, and  
potential technology licensees on a global basis.                               

Cenuco has already developed partnerships and affiliates including Intel        
Corporation, Microsoft Corporation and Qualcomm. The Company has also agreed to 
distribution terms with Cellstar, Infosonics, FCI Associates, and other         
integrated distribution companies.                                              

Cenuco is debt free with more than $6 million in cash including the proceeds    
from the sale of the education subsidiary. The Company expects strong revenue   
growth and a positive free cash-flow position during fiscal 2005, as cellular   
based remote viewing products achieve increased market acceptance and wider     
distribution.                                                                   

 1

EX-99
Last Page of 2
TOC
1st
Previous
Next
↓Bottom
Just 2nd
Steven Bettinger, President and CEO, commented, "We are pleased to have         
successfully completed the divestiture of our education subsidiary. Our         
educational assets have found an excellent home, allowing Cenuco to focus on our
core wireless remote video monitoring business. Wireless data services are      
expected to grow 50% this year reaching $5.5 billion by 2009. 22 million        
Americans will access mobile video content via cellular devices, with over 31   
million utilizing video messaging. Cellular video services are expected to      
account for almost 15% of all wireless data related revenues across the         
industry, with Cenuco uniquely positioned to be a service provider to all       
parties."                                                                       

About Cenuco                                                                    

Cenuco, Inc. develops wireless solutions for transmitting live streaming video  
to PDAs and cell phones. The Company's technology has applications in a variety 
of markets, including security, education, real estate, insurance, government   
and retail market segments. Cenuco's wireless video monitoring solutions are the
primary focus of its business and allow users to view real-time streaming video 
of security cameras at their home or place of business from anywhere they       
receive a cellular connection, regardless of the carrier or user's location. The
Company's products address the fast-growing security, surveillance and Homeland 
Security markets, and some of its monitoring products have been listed on the   
Federal General Services Administration (GSA) schedule. Please visit            
www.cenuco.com for additional information.                                      

CERTAIN STATEMENTS CONTAINED HEREIN MAY CONSTITUTE FORWARD-LOOKING STATEMENTS   
WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933, 21E OF THE     
EXCHANGE ACT OF 1934 AND/OR THE PRIVATE SECURITIES LITIGATION REFORM ACT OF     
1995. SUCH STATEMENTS INCLUDE, WITHOUT LIMITATION, STATEMENTS REGARDING BUSINESS
PLANS, FUTURE REGULATORY ENVIRONMENT AND APPROVAL AND, THE COMPANY'S ABILITY TO 
COMPLY WITH THE RULES AND POLICIES OF INDEPENDENT REGULATORY AGENCIES. ALTHOUGH 
THE COMPANY BELIEVES THE STATEMENTS CONTAINED HEREIN TO BE ACCURATE AS OF THE   
DATE THEY WERE MADE, IT CAN GIVE NO ASSURANCE THAT SUCH EXPECTATIONS WILL PROVE 
TO BE CORRECT. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE             
FORWARD-LOOKING STATEMENTS.                                                     

######

 2

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		10/5/04		1
For Period End:		9/30/04							10QSB
									List all Filings