ESPRE Solutions Closes 506 Funding of $3 Million in Response to Recent Market Demands and Product Delivery Schedules.PLANO, Texas Plano (IPA: /ˈpleɪnoʊ/) is a wealthy suburb of Dallas, Texas, located to the north, mainly within Collin County, but also extending into Denton County. According to the 2000 U.S. -- ESPRE Solutions, Inc., which recently purchased the Lightning Strike CODEC and announced the release of eViewMail has now secured a $3 million capital infusion Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. that will propel ESPRE's business model and dramatically support its aggressive product release schedule ESPRE Solutions, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Pink Sheets: EPRS EPRS Egyptian Periodontal Restorative Society EPRS Employment Preparation for Retail Services EPRS Electronic Purchase Request System EPRS Emergency Pipeline Repair Systems EPRS Electronic Prepaid Recharge Services ), a Dallas-based media solutions and technology company with a revolutionary and patented video compression technology, today announced closing a $3 million capital round sourced through its finance partner, Financial Freedom Business Development, Inc. ESPRE Solutions, which has produced "best in class" and often "one-of-a-kind" solutions as a collaborative media solutions provider, will use this capital infusion to fulfill on several key market opportunities. In particular, ESPRE Solutions released a new release in February 2005 of its revolutionary eViewMail solution, which is receiving rave reviews from analysts, press and customers. Additionally, ESPRE will soon announce the much anticipated full release of eViewLink, which is being viewed by many analysts as a breakthrough in mobile video communications. eViewLink is the world's first business-quality 2-way video collaboration solution over a wireless PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). device and is schedule to begin pilot testing with a couple of key ESPRE clients. The financing, which was sourced through its merchant banking partner, Financial Freedom Business Development, was part of a 506 funding round that was taken down by GPM GPM - General Purpose Macro-generator Asset Management, lead by Gideon Djerassi. Patrick Castagna, Managing Partner of Financial Freedom states, "this is a significant funding event for ESPRE Solutions as this investment secures ESPRE Solutions ability to deliver on its business plan for this year. Through Financial Freedom's original investment and that of GPM, ESPRE has the necessary capital it needs to fund overhead, marketing, engineering and all other aspects of growing the company." "It's always exciting when one of our companies needs additional funding to support increased market demand. We were pleased that through Financial Freedom's partnership with GPM we were able to provide the growth capital necessary to shore up sales and engineering initiatives," states Michael Bokzam, President of Financial Freedom. Pete Ianace, 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. of ESPRE Solutions says, "ESPRE set out on a course this year to demonstrate that our Lightning Strike CODEC is not only the best, but that its core technology can open a variety of market opportunities. Other CODECs The following is a list of codecs. Audio codecs Non-compression formats
About ESPRE Solutions, Inc.: Plano, Texas-based ESPRE Solutions is a public company (OTC Pink Sheets: EPRS) and groundbreaking media collaboration solutions provider that fulfills the promise of TV-quality streaming video over the Internet--even at dial-up speeds as low as 28Kbps. ESPRE Solutions intends to be the video applications provider of choice for Internet Service Providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. , Fortune 1000 corporations, and institutions worldwide, adding both narrowband and broadband video to traditional voice and data applications. ESPRE Solutions' eView product suite provides an integrated solution for business and personal communications. To learn more about ESPRE Solutions, or to experience the company's pioneering eView technology, visit www.espresolutions.com. SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Forward-looking statements made in this release are made pursuant to the "safe harbor" provision of the Private Securities Reform Act of 1995. Forward-looking statements made by ESPRE Solutions, Inc. are not a guarantee of future performance. |
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