Business Description
NewMarket Technology, Inc. is a Nevada corporation which conducts business from its headquarters in Dallas, Texas. The Company was incorporated on February 19, 1997 as Nova Enterprises, Inc., changed its name to IPVoice Communications, Inc. in March of 1998, then to IPVoice.com, Inc. in May of 1999, back to IPVoice Communications, Inc. in January of 2001 and to NewMarket Technology, Inc., in July 2004. The Company is involved in the information technology industry, principally voice over Internet Protocol telephony 'voIP', systems integration, homeland security and wireless broadband technology. In January of 2005, the Company partnered with Gaozhi Science and Technology in Shanghai China to establish NewMarket China, Inc. 'NewMarket China', a wholly-owned subsidiary of NewMarket Technology. In 2005, NewMarket China formed a Chinese wholly-owned foreign entity 'WOFE' that operates under the name Clipper Technology, Inc. 'CLPTEC'. CLPTEC is engaged in the development, implementation, integration and maintenance of technology software and supporting peripherals for computing, communications, and data exchanges. In October 2005, it executed an agreement with Zhang Wei Lin, the Managing Director and legal representative of the Huali Group which resulted in a 51 percent ownership in Clipper-Huali, Ltd. 'Clipper-Huali' a newly-formed Chinese corporation. Clipper-Huali engages in the business of application software development, sale of proprietary software, value added reselling of business application software and the sale of system and network software. In February 2005, the Company entered into an agreement with Defense Technology Systems, Inc. 'DFTS', a homeland security products company, under which DFTS acquired its majority interest in DCI in exchange for two classes of DFTS preferred stock which represent a majority voting interest in DFTS. The Internet-based communications software products industry is competitive and varied. Many of its existing and potential competitors have financial, personnel, marketing, customer bases and other financial resources than it's. Among its various competitors are many its potential customers such as Bell South, Qwest, Cisco Systems and Lucent Technologies. These competitors have the flexibility to introduce new service and pricing options that may be more attractive to its existing and potential customers. The Company would attempt to overcome the competitive advantages of its competitors by pursuing its new strategy of acquiring businesses that are complementary to its own and which provide it with brand name recognition. The Company has one provisional patent for its RFID shipping management product.
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