Cyberguard Corporation Completes Additional Financing.Business Editors/High-Tech Writers FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 4, 2001 CyberGuard Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CYBG), the technology leader in network security, today announced that it has completed a $1 million financing with a private investment group which was constructed as an add-on to an earlier 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. note, issued to Fernwood Partners II, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , in August 1999. The additional note is convertible into CyberGuard common stock at $1.51 per share and carries a warrant to purchase an additional 331,126 shares of common stock at $2.51 per share. The additional convertible note bears interest at 11.5 percent per annum Per annum Yearly. with no principal payments due until June 30, 2002. The financing is subordinated to senior debt and is collateralized by the assets of CyberGuard Corporation. About CyberGuard Corporation CyberGuard Corporation is a leading international provider of enterprise security solutions to Fortune 1000 companies and governments worldwide. CyberGuard's award winning, industrial-strength firewall products and services protect the integrity of data and applications from unauthorized access. The company has world headquarters in Ft. Lauderdale, Florida, and branch offices worldwide. More information on CyberGuard Corporation can be found at http://www.cyberguard.com. 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. Statements regarding estimates and future prospects contained in this press release are forward-looking statements. These statements are based upon assumptions and analyses made by the Company in light of current conditions, future developments, and other factors the Company believes are appropriate in the circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , or information obtained from third parties, and are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that forward-looking statements are not guarantees and that actual results might differ materially from those suggested in the forward-looking statements. Some of the factors that might cause future actual events to differ from those predicted or assumed include: future advances in technologies and computer security; the Company's history of losses; the Company's ability to execute on its business plans; the Company's dependence on outside parties such as its key customers and alliance partners; competition from major computer hardware, software, and networking companies; uncertainties in availability of expansion capital in the future and other risks associated with capital markets; the outcome of purported pur·port·ed adj. Assumed to be such; supposed: the purported author of the story. pur·port  ed·ly adv. class action lawsuits class action lawsuitA lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax against the Company; and recent changes in management. For a more complete discussion regarding forward-looking statements, the reader is referred to the Company's periodic reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, including the 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 June 30, 2000, and other information filed with the Commission. |
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