Burst.com Announces Management Restructuring

Apr 04, 2001, 01:00 ET from Burst.com

    SAN FRANCISCO, April 4 /PRNewswire/ -- Burst.com today announced a
 restructuring of its senior management and an overall 75% reduction in
 headcount.  The moves underscore the company's decision to abandon its
 software marketing and media hosting lines of business in favor of a patent
 licensing strategy, according to Richard Lang, Chairman and CEO.
     In response to Burst.com's more narrow operating strategy, both senior
 management and staff reductions have been effected.  Stepping down from their
 day-to-day posts, but remaining as advisors, are Doug Glen, former President
 and CEO, John Lukrich, former CFO, Edward Davis, former Vice President,
 Secretary, and General Counsel, and Thomas Koshy, former President of
 International Operations.  Replacing Mr. Glen as CEO is Richard Lang, Chairman
 and co-founder of Burst.com.  Mr. Glen also resigned his seat on the Board of
 Directors.  Replacing Mr. Lukrich as CFO is Jeff Wilson, currently the
 company's Controller.  Eleven other positions have been eliminated, reducing
 total headcount to five.
 
     About Burst.com
     Burst.com, headquartered in San Francisco, is the developer of Faster-
 Than-Real-Time(R) and Burst-Enabled(TM) video and audio delivery software.
 Burst.com's Burstware(R) provides high-quality delivery of full-motion video
 and CD-quality audio over IP-based networks.  The company has built an
 international patent portfolio covering bursting, video delivery scheduling
 and rapid casting.  Burstware(R) and Faster-Than-Real-Time(R) are registered
 trademarks of Burst.com, and Burst-Enabled(TM) is a trademark of Burst.com.
 More information about Burst.com is available at www.burst.com.
 
     This release contains certain "forward-looking statements" within the
 meaning of the Private Securities Litigation Reform Act of 1995.  These
 statements are based on management's current expectations and are subject to
 uncertainty and changes in circumstances.  Information included in this news
 release (as well as information in oral statements or other written statements
 made or to be made by Burst.com, Inc.) contain statements that are forward-
 looking, such as statements relating to the ability of the company to raise
 additional capital, maintain the confidence and support of its strategic
 partners and customers, and more generally execute its business plans.  Such
 forward-looking statements involve important risks and uncertainties, and no
 assurances can be given that the company will be able to raise the additional
 capital it is seeking.  If the company is unable to raise additional capital,
 it will not be able to continue as a going concern, and may not be able to
 maintain its current relationships with partners and customers.  More detailed
 information about these factors is set forth in Burst.com's filings with the
 Securities and Exchange Commission, including the risk factors described in
 Burst.com's Form S-1, as amended (SEC File No. 333-35002) and other
 information described in Burst.com's most recent Quarterly Report on Form
 10-Q.  Burst.com is under no obligation to (and expressly disclaims any such
 obligation to) update or alter its forward-looking statements whether as a
 result of new information, future events or otherwise.
 
 

SOURCE Burst.com
    SAN FRANCISCO, April 4 /PRNewswire/ -- Burst.com today announced a
 restructuring of its senior management and an overall 75% reduction in
 headcount.  The moves underscore the company's decision to abandon its
 software marketing and media hosting lines of business in favor of a patent
 licensing strategy, according to Richard Lang, Chairman and CEO.
     In response to Burst.com's more narrow operating strategy, both senior
 management and staff reductions have been effected.  Stepping down from their
 day-to-day posts, but remaining as advisors, are Doug Glen, former President
 and CEO, John Lukrich, former CFO, Edward Davis, former Vice President,
 Secretary, and General Counsel, and Thomas Koshy, former President of
 International Operations.  Replacing Mr. Glen as CEO is Richard Lang, Chairman
 and co-founder of Burst.com.  Mr. Glen also resigned his seat on the Board of
 Directors.  Replacing Mr. Lukrich as CFO is Jeff Wilson, currently the
 company's Controller.  Eleven other positions have been eliminated, reducing
 total headcount to five.
 
     About Burst.com
     Burst.com, headquartered in San Francisco, is the developer of Faster-
 Than-Real-Time(R) and Burst-Enabled(TM) video and audio delivery software.
 Burst.com's Burstware(R) provides high-quality delivery of full-motion video
 and CD-quality audio over IP-based networks.  The company has built an
 international patent portfolio covering bursting, video delivery scheduling
 and rapid casting.  Burstware(R) and Faster-Than-Real-Time(R) are registered
 trademarks of Burst.com, and Burst-Enabled(TM) is a trademark of Burst.com.
 More information about Burst.com is available at www.burst.com.
 
     This release contains certain "forward-looking statements" within the
 meaning of the Private Securities Litigation Reform Act of 1995.  These
 statements are based on management's current expectations and are subject to
 uncertainty and changes in circumstances.  Information included in this news
 release (as well as information in oral statements or other written statements
 made or to be made by Burst.com, Inc.) contain statements that are forward-
 looking, such as statements relating to the ability of the company to raise
 additional capital, maintain the confidence and support of its strategic
 partners and customers, and more generally execute its business plans.  Such
 forward-looking statements involve important risks and uncertainties, and no
 assurances can be given that the company will be able to raise the additional
 capital it is seeking.  If the company is unable to raise additional capital,
 it will not be able to continue as a going concern, and may not be able to
 maintain its current relationships with partners and customers.  More detailed
 information about these factors is set forth in Burst.com's filings with the
 Securities and Exchange Commission, including the risk factors described in
 Burst.com's Form S-1, as amended (SEC File No. 333-35002) and other
 information described in Burst.com's most recent Quarterly Report on Form
 10-Q.  Burst.com is under no obligation to (and expressly disclaims any such
 obligation to) update or alter its forward-looking statements whether as a
 result of new information, future events or otherwise.
 
 SOURCE  Burst.com