Dauphin Technology, Inc. Concludes $8 Million Private Placement.Business Editors PALATINE, Ill.--(BUSINESS WIRE)--March 20, 2000 Dauphin Dauphin, town, Canada Dauphin (dô`fĭn), town (1991 pop. 8,453), SW Man., Canada, on the Vermilion River. It is the retail and distribution center for an agricultural, lumbering, and fishing area. Technology, Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : DNTK) today announced the conclusion of its private placement, whereby the Company raised more than $8 million. Funds raised from the offering will be used to complete the development of the Set-Top Box The cable TV box that sits on "top" of the TV "set," although it is often located several feet away in an equipment rack. The set-top box descrambles the premium channels and provides a tuner for the higher cable numbers that very old TVs did not support. , marketing of the Orasis(TM) hand-held computer Noun 1. hand-held computer - a portable battery-powered computer small enough to be carried in your pocket hand-held microcomputer portable computer - a personal computer that can easily be carried by hand and the discharge of certain trade payables resulting from the manufacturing of the Orasis(TM) computer during 1999. Upon satisfaction of all of its outstanding payables, the Company will be totally debt free with available working capital exceeding $5 million. Near-term manufacturing costs for the Orasis(TM) are expected to be minimal because the majority of such costs for the prior production of 1,000 units were incurred in 1999 and are included in the trade payables mentioned above. Additionally, the Company is in the final stages of negotiating terms for a larger funding package planned for the production of the Set-Top Box scheduled to start later this year. Further details regarding this product and the related contract will be available as soon as certain other participants finalize their contracts. At such time it will be appropriate for Dauphin to release all the details of the project and related contract. Cutter & Company, Inc., a St. Louis based Broker/Dealer, underwrote the private placement offering, which was made to accredited investors only. Cutter and Company, Inc. has been serving the needs of the investing public since 1987 and is involved in all areas of the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry. "Our difficult days are behind us and the future of our Company is now clear and very exciting," comments Andrew Kandalepas, 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. and Chairman of Dauphin Technology, Inc. "Our time will not be wasted any longer in the trenches of the financial battlefield but instead, in seizing the opportunities present before us and growing every day. Hand-held computers, internet, cable and wireless telecommunications, including Set-Top Boxes, are the hot technologies today and we are involved in all of them," continues Mr.Kandalepas. Dauphin Technology, Inc., a Palatine, Illinois
Certain matters discussed in this news release are forward-looking statement 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. involving certain risks and uncertainties including, without limitations, changes in product demand, the availability of products, change in competition, economic conditions, various risks due to changes in market conditions and other risks detailed in the Company's Securities and Exchange Commission filings and reports. |
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