AuthentiDate Holding Corporation Exercises ``Put Option''.Business Editors SCHENECTADY, N.Y.--(BUSINESS WIRE)--Aug. 27, 2003 AuthentiDate Holding Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ADAT (Alesis Digital Audio Tape) A digital audio recording technology from Alesis, LLC, Cumberland, RI (www.alesis.com). In 1992, Alesis introduced the first 8-track digital tape recording system. ) announced today that it has elected to exercise the "put option" which was part of a convertible debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. the Company completed in October 2002. The option calls for the sale of convertible securities to several institutional investors convertible at $3 per share. Gross proceeds of the transaction will be approximately $2.4 million. The Company believes that the proceeds of this transaction will be sufficient to satisfy its short term capital needs. "Given that this option was set to expire in two months, we believe that it was best to exercise the option so that the Company was in a better financial situation going into the new fiscal year," said John Botti Raphael Jose Botti (born February 23, 1981) simply known as Botti, is a Brazilian professional footballer. He plays as a midfilder for Vissel Kobe. Botti is a hard-working and talented player who may not get on the scoresheet too often – just 14 times in his five years , AuthentiDate's Chairman and 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. . "It was a strategic move for the Company and these funds should take us into 2004." About AuthentiDate Holding Corp. AuthentiDate Holding Corp. (AHC AHC Appalachian Hardwood Center AHC American Heritage Center (University of Wyoming, Laramie, WY) AHC American Horse Council AHC Association for History and Computing AHC Australian Heritage Commission AHC Assault Helicopter Company ) is the holding company of five business units: DocSTAR, AuthentiDate International AG, AuthentiDate, Inc., DJS Marketing Group/Computer Professionals International and Trac Medical Solutions, Inc. AuthentiDate and AuthentiDate AG provide the authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. of digital data through its proprietary and patent pending technology. AuthentiDate is establishing itself as the authority on "content security," a growing sector of the electronic network security infrastructure market Trac Medical uses the AuthentiDate service to improve speed, accuracy and security in processing medical forms. These three business units comprise the AuthentiDate Segment for financial reporting purposes. DocSTAR sells a complete line of document imaging products and DJS delivers professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. centered on systems integration projects, staff augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. , out-tasking and outsourcing services, and resells computer related products. This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of The Company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the Company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its business plan for various applications of its technologies, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. |
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