Appiant Technologies' Financing and Progress Towards Profitability is Facilitated by Early Success of inUnison.Business Editors PLEASANTON, Calif.--(BUSINESS WIRE)--Sept. 11, 2001 Appiant Technologies, Inc. (Nasdaq:APPS APPS Applications APPS Automated Package Processing System (US Postal Service) APPS Act to Prevent Pollution from Ships APPS Asian Pacific Psychological Services APPS analytical photogrammetric positioning system ) today announces success in its financing efforts. The Company recently closed a three million dollar ($3,000,000.00) cash infusion from a strategic partner, and a two and a half million dollar ($2,500,000.00) convertible debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay with a number of Appiant Technologies insiders. In addition, the Company expects to close another two and a half million dollars ($2,500,000.00) of the convertible debt and to receive two and a half million dollars ($2,500,000.00) in a non-convertible loan against the assets of one of its successful subsidiaries. These funds, together with the exceptional performance of our subsidiaries coupled with the early success of our inUnison(TM) product launch, are expected to provide the cash necessary to get to profitability within 120 days. Appiant Technologies' inUnison(TM) product generates reoccurring monthly revenues. The Company charges each Subscriber a committed service fee at the beginning of each month and, in addition, their actual usage of outbound calling and conferencing minutes for the previous month. The charge for a typical Subscriber ranges between $50.00 and $350.00 per month. "As early Customer's embrace inUnison(TM) and profitability in our other lines of business continues ahead of plan, the Company begins to alleviate the cash drain caused by the development of the inUnison(TM) product," says Doug Zorn, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Appiant Technologies. "Notwithstanding these hard economic times, the Company has achieved a cash position that allows it to deliver on its business plan. The management team is very excited about the launch of inUnison(TM) and the acceptance that it is receiving in the marketplace as we continue to add thousands of new Subscribers on a weekly basis!" About Appiant Technologies, Inc. Appiant Technologies, Inc., (Nasdaq:APPS), is a leading Unified Communications The real time redirection of a voice, text or e-mail message to the device closest to the intended recipient at any given time. For example, voice calls to desk phones could be routed to the user's cellphone when required. and Unified Information (UC/UI) software development company, delivering next generation UC/UI applications. Its inUnison(TM) portal enables WSPs, ISPs, and CLECs, the capability to offer the tools to manage all telephone, email, voice mail, facsimile, and notification needs in real-time anywhere, anytime and in a highly personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. manner using virtually any communication device such as a PC, PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). , telephone, or cellular phone. Appiant's enabling technologies include a speech recognition engine that provides seamless access to its inUnison(TM) distributed portal architecture, allowing information integration from multiple sources. Appiant is a member of the Cisco New World Ecosystem partner program and has been designated a Cisco Powered Network member. Appiant is headquartered in Pleasanton, and has offices throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and abroad. More information available at http://www.appiant.com/. Note: Except for historical information, the matters set forth in this press release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. All forward-looking statements are made as of today, based on current management expectations, and the company disclaims any duty to update such statements. All forward-looking statements, including those in this press release, are subject to certain risks and uncertainties that could cause actual results to differ materially. Note to Editors: inUnison(TM) is a trademark of Appiant Technologies. |
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