Globix Completing Sale of Tribeca Building for $60 Million Cash
NEW YORK – January 22, 2004
NEW YORK, Jan. 22, 2004 – Globix Corporation, (OTC BB:GBXX.OB – News) a
“Selling 415 Greenwich Street will permit Globix to further reduce
Globix (http://www.globix.com) is a leading provider of managed Internet applications and infrastructure services for enterprises. Globix delivers and supports mission-critical applications and services via its secure Data Centers, high-performance global Tier 1 IP backbone, and content delivery network. Through Aptegrity, its managed services group, Globix provides remote management of custom and off-the-shelf web-based applications on any server, anywhere, at any time. By managing such complex e-commerce, database, content management and customer relationship management software for its clients, Globix helps them to protect Internet revenue streams, reduce technology operating costs and operating risk, and improve user satisfaction. Globixs clients are companies which use the Internet as a way to provide business benefits and sustain a competitive advantage in their markets. Our clients include operating divisions of Fortune 100 companies as well as mid-sized enterprises in a number of vertical markets including health care, media and publishing, technology and financial services. Globix and its subsidiaries have operations in New York, London, Santa Clara and Atlanta.
Risk Factors and Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These statements are based on current information and expectations and are subject to risks and uncertainties that could cause the companys actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include: the companys ability to retain existing customers and attract new customers; its ability to match its operating cost structure with revenue to achieve positive cash flow; the sufficiency of existing cash and cash flow to complete the companys business plan and fund its working capital requirements; risks associated with making acquisitions; restrictions on our financial and operating flexibility due to the terms of our existing indebtedness and our high degree of leverage; the insolvency of vendors and other parties critical to the companys business; the companys existing debt obligations and history of operating losses; its ability to integrate, operate and upgrade or downgrade its network; the companys ability to recruit and retain qualified personnel needed to staff its operations; potential market or technological changes that could render the companys products or services obsolete; changes in the regulatory environment; and other changes that are discussed in the companys Annual Report on Form 10-K and other documents that the company files with the Securities and Exchange Commission.