DataWorld Solutions, Inc. Completes $1,600,000 Financing.Business Editors FARMINGDALE, N.Y.--(BUSINESS WIRE)--June 1, 2000 DataWorld Solutions Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : DWLD - news) (Frankfurt - VRX), manufacturer and distributor of electronic cable, accessories, and custom cable assemblies for data, voice and video communications systems, today announced the closing of a private financing of $1,600,000. Daniel McPhee, DataWord's President 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. , stated, "The successful closing of this phase of our financing plans, and the expressions of interest the Company has received for additional financing, represents a vote of confidence in the Company's strategic direction." The financing consisted of the sale of $1,600,000 in Convertible Debenture Notes from the Augustine Fund, L.P., a Chicago based Investment Company. The Augustine fund also has an option for an additional $1.6 million in convertible debenture notes, which would bring the total financing to $3.2 million. The Delano Group Securities assisted the Company with the Augustine Capital transaction. Thomas F. Duszynski, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Augustine Capital Management, Inc. added, "We are very excited about our relationship with DataWorld, Inc. and look forward to participating in future financing." Nick Hutzel, DataWorld's VP/Controller stated. "The Company's future has never looked brighter. We are building on last years introduction of new management as well as an enhanced product line combined with this latest round of financing to rapidly grow the company's sales in 2000." About DataWorld; DataWorld Solutions, Inc., formerly Vertex Computer Cable & Products, Inc., is a multi-regional value-added specialty distributor of electronic cable assemblies used in providing connectivity solutions, which includes systems integration, for customers operating a wide range of data systems. This includes linking or connecting standard or proprietary electronic devices and peripheral components from different vendors to provide solutions for various customer requirements. The Company adds value by providing connectivity solutions, which may include distributed sales for passive components such as electronic connectors, electronic wire and cable, cabinets and racks and patch panels, and active components, including hubs, bridges, routers, gateways and modems. DataWorld currently has 2 assembly plants in Long Island, New York as well as San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. , with 80 employees. Many of DataWorld's clients include Fortune 500 Companies. Existing clients of DataWorld include 3M Corp. (NYSE NYSE See: New York Stock Exchange : MMM MMM Myeloid metaplasia with myelofibrosis, see there - news), Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. (NYSE:BAC - news), Bear Stearns (NYSE:BST (convention) BST - British Summer Time. The name for daylight-saving time in the UK GMT time zone. - news), BMC Software (Nasdaq:BMCS - news), Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. (NYSE:CMB - news), Cisco Systems (Nasdaq:CSCO - news), Picturetel (Nasdaq:PCTL - news), RCN Corp. (Nasdaq:RCNC - news), U.S. Web (Nasdaq:USWB - news), Northrop Grumman (NYSE:NOC - news), and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . DataWorld Solutions competitors include Anixter (NYSE:AXE - news), Anicom (Nasdaq:ANIC - news), and Graybar. This release contains forward-looking statements with the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in the forward-looking statements and assumptions, upon which forward-looking statements are based, are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. DataWorld's Internet Properties are located at: http://www.dataworlddirect.com Contact: Investor Relations: 1-888-369-9976 |
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