CommUnique Announces Completion of Financing Plans to Make Application to List on NASDAQ Small Cap Market.HOLMDEL, N.J.--(BUSINESS WIRE)--Dec. 12, 1997--CommUnique Corporation (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 , OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:NIQU) today announced the completion of a $6.17 million equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . The proceeds of the financing will be used to expand its Year/2000 remediation and marketing activities directed to the NATURAL software language market. The Company recently completed establishment of a remediation center in Holmdel, New Jersey, equipped with a Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. E-6000 server that provides CommUnique with high capacity, top-of-the-line processing power. Vasilios E. Kalomiris, Chief Executive Officer of CommUnique stated, "that 40% of U.S.-based NATURAL language user sites are located in the northeast, most of which are mission-critical, mainframe legacy systems, making our Holmdel, New Jersey factory site ideally located." The Company will begin immediately to process a 30 million line-of-code impact analysis contract. In addition, joint-marketing efforts have begun between the Company and its teaming partner, Formal Systems, Inc. of Canada, the Company's NXL NXL National XBall League NXL Network Exchange Limited 2000 toolset licensor. Initial marketing efforts will be concentrated in the northeast corridor This article is about a rail line. For the agglomeration of metropolitan areas, see BosWash. For the New Jersey Transit line, see Northeast Corridor Line. The Northeast Corridor (NEC of the US to take advantage of the Holmdel location and to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. CommUnique's licensing exclusivity in the area. The Company plans to double its processing capacity with the opening of a second remediation center in the Washington, DC area in the first quarter of 1998. Marketing efforts will concentrate on the Federal Government sector and those federal and state agencies that require a high-security remediation site. The Company also stated that based upon current listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. it intends to make application as soon as practicable after the completion of its year end audit for the listing of its securities on the NASDAQ Small Cap market. The CommUnique Corporation provides impact analysis and remediation services for clients in need of year 2000 solutions for the Natural and PL/1 programming languages. The company is also the developer of routing software for use in the unlicensed, spread spectrum frequency band for wireless Internet and Intranet access. -0- Note to Editors: The statements made in this press release contain certain 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. , including statements regarding marketing strategies, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, that involve a number of risks and uncertainties, including the risk that the companies will be unable to successfully open additional remediation centers or market their services to customers in designated target regions. Such statements are only predictions, and actual events or results may differ materially. In addition to the matters described in this press release, other risk factors may, from time to time, affect the results achieved by CommUnique. CONTACT: Formal Systems Melanie Fendt, 609/482-0400 or CommUnique W. Greg Karr, 916/772-4825 |
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