Appiant Technologies Announces Financing to $4 Million; Funding to Accelerate Commercial Expansion of Company's inUnison Unified Communications Service.Business Editors/High-Tech Writers PLEASANTON, Calif--(BUSINESS WIRE)--May 2, 2002 Appiant Technologies, Inc. (Nasdaq:APPS), a leader in 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. , today announced it has received $3 million in new funding from a group of institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . The funds will be used to expand the inUnison(SM) data center to meet forecasted demand and other operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. . The Company has closed on the first round of the transaction and received $3 million in gross proceeds, and is actively working to close on an additional $1 million in the next few days. Doug Zorn, President and Chief Executive Officer of Appiant, commented: "We are delighted to receive this new funding from several institutional and private investor groups. In view of the current economic downturn and prevailing conditions in the private capital markets, their investment in Appiant is a testament to the value and ultimate profit potential of our unified communications service. This $4 million investment not only represents an endorsement of our strategic vision, but will serve as the critical fuel we need to accelerate our growth initiatives and achieve financial success. With some careful capacity planning Determining the required future configuration of hardware and software for a network, datacenter or Web site. There are numerous capacity planning tools on the market used to monitor and analyze the performance of the current hardware and software. and tight overall budget controls, we expect to reach cash flow breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations by this Fall, given our current revenue forecasts. Although we've experienced some delays in ramping up subscribers on our inUnison unified message service, we've recently made some significant inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ that will get our desired subscription rate back on course in short order." About Appiant Technologies, Inc. Appiant Technologies, Inc. is a leading Unified Communications software development company, delivering next generation UC applications. Its inUnison(SM) portal enables Service Providers and Enterprises to offer tools to manage all telephone, email, voice mail, facsimile, and notification needs in real-time anywhere, anytime, and in a highly personalized 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 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, Calif., 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. For more information, please visit the Company's web site at http://www.appiant.com. This press release contains forward-looking statements that involve risks and uncertainties concerning Appiant's expected financial performance (as described without limitation in the business outlook and quotations from management in this press release), as well as Appiant's strategic and operational plans. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the slower spending environment for communication services; the actual increases in demand by customers for Appiant's services; general economic conditions; the ability to adjust to changes in personnel, including management changes; and the dependence on third parties for technology, content and distribution. All information set forth in this release is as of May 2, 2002, and Appiant undertakes no duty to update this information. More information about potential factors that could affect the company's business and financial results is included in the company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended September 30, 2001 including (without limitation) under the captions, "Risk Factors" and "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations," which are on file with the Securities and Exchange Commission (the "SEC") and available at the SEC's website at www.sec.gov. Additional information will also be set forth in those sections in Appiant's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2002 which will be filed with the SEC in the near future. Note to Editors: inUnison(SM) is a trademark of Appiant Technologies. |
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