Thinspace New CEO Issues Letter to Shareholders

PORT ORANGE, Fla., July 14, 2014 /PRNewswire/ -- Thinspace Technology Inc. (OTCQB: THNS; "Thinspace or the "Company"), a global provider of reliable, scalable and affordable application delivery, virtualization, and cloud client technology to public and private sector companies and organizations of all sizes, today announced that on July 7, 2014 it issued a letter to shareholders from its Chief Executive Officer Chris Bautista. The letter is included in its entirety below:

Dear Shareholders,

Thank you in advance for your continued support of the Company. There have been several recent strategic changes which have positioned Thinspace to succeed operationally and competitively in the near –term and more importantly, have set the foundation for long-term growth and to effectively compete in this booming virtualization and cloud technology industry. I want to take the opportunity to personally update you and provide an overview of my strategic vision and plan moving forward.

In late May, a buyout of Thinspace's former President's, Robert Zysblat, and former CEO's, Owen Dukes, ownership interest in the company was closed.  Owen is remaining on with Thinspace, employing his technology sales and product expertise to lead our Europe, Middle East, and Africa ("EMEA") Sales and Business Development initiatives. We are confident he will be successful in accelerating revenue growth and assisting the Company to the next level. His ongoing belief in Thinspace and its ability to capitalize on current and future opportunities is both encouraging and motivating.

Around the same time, I gladly accepted an opportunity to come on board as the new CEO. My career has been marked with significant time spent at technology companies in a variety of management, consulting and delivery positions. In addition to that, I also come with deep mobile technology and strategy experience having worked at Sprint, inCode Telecom, and Enterprise Mobile. In my new role with Thinspace, I plan on leveraging my background, particularly with mobile technology, and relationships made throughout the years to propel the Company forward.

Given my tenacity for ground floor, involved, action-oriented leadership, I will be connected to all of the Company's internal operations, customers, and investors now and in the future. In this effort, I plan to visit our UK headquarters and our product development department in India in July to gain a better understanding of our efficiencies, and what we can do to maximize profits and productivity. These findings and others will be utilized, to design and implement a new optimized business strategy to allow us to succeed in this new cloud and mobile world. 

The next few months will be just as significant as the past few months. Management including myself will be staunchly focused on high priority initiatives such as the reporting of our financials, as well as optimizing our product roadmap, and improving our go-to-market strategy. We look forward to progressing through the end of this quarter and the next quarter successfully, and to doing the best work in product sales, development, and innovation for the benefit of the Company, customers, and shareholders worldwide.

Sincerely,

Chris Bautista, Chief Executive Officer

Thinspace Technology operates in high growth B2B markets of application delivery, virtualization and cloud client technology that make it easier, more flexible and more affordable for companies and IT Managers to conduct and streamline computing operations securely from any server - anywhere in the world.  IDC predicts that 2014 is the year where desktop virtualization is going to become main stream given its advantages currently in demand: low cost, flexibility, secure and green. According to Gartner research, the global desk top virtualization market is expected to surpass $65 billion in 2015.

About Thinspace Technology Inc.

Thinspace Technology Inc. is a global provider of reliable, scalable and affordable application delivery, virtualization, and cloud client technology to public and private sector companies and organizations of all sizes. Operating on the belief that application delivery and cloud computing solutions should be flexible, dynamic and above all, simple to use, Thinspace understands and is passionate about solving customer problems affordably in the most efficient and effective manner possible. The Company's list of private and public sector customers include NASA, PWC, Deutsche Bank, Toyota, as well as, NHS, local councils, universities, schools, and housing associations. With over 5,000 enterprise customers worldwide, Thinspace is recognized as a leading player in application delivery, virtualization, and cloud technology markets. The Company is headquartered in Port Orange, Florida with international offices in U.K., Canada, and India. For more information on the Company, please visit www.thinspace.com.

Forward-Looking Statements:

This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.

The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section entitled "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2013.

Investor Relations
Email: [email protected]
Phone: 855-371-3936

SOURCE Thinspace Technology Inc.