Insignia Shareholders Approve Securities Subscription Agreement with Fusion Capital.FREMONT, Calif. & HIGH WYCOMBE High Wycombe (wĭk`əm), city (1991 pop. 69,575), Buckinghamshire, S England. The city is well known for its furniture industry and also has paper mills, sawmills, and engineering works. , England -- Insignia Solutions (Nasdaq:INSG INSG International Nickel Study Group ) today announced that its shareholders approved its Securities Subscription Agreement with Fusion Capital (the "Fusion Agreement") at a shareholders meeting held today. 99% of the Company's 15.9 million shares represented at the meeting voted in favor of the Fusion Agreement. Under the Fusion Agreement, the Company can, at its option, receive up to $12 million of equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. , by selling its American Depository Shares ("ADSs") to Fusion Capital over a 30-month period. The purchase price will be based on the market price of Insignia's ADSs at the time of any sales. The commencement of funding under the Fusion Agreement is subject to certain conditions, including the effectiveness of a registration statement to be filed with the Securities and Exchange Commission ("SEC") covering the sale of the ADSs under the Fusion Agreement. Sales of the ADSs under the Fusion Agreement are subject to additional limitations and conditions described in the Company's most recent quarterly report and proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. filed with the SEC. Forward-looking statements This press release contains forward-looking statements that involve risks and uncertainties. The statements in this press release relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc matters that are not historical are forward-looking statements that involve risks and uncertainties. This release includes forward-looking statements that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those referred to in the forward-looking statements. Such factors include, but are not limited to, the filing and declaration of effectiveness by the SEC of a registration statement covering the sales of the ADSs under the Fusion Agreement, Insignia's need for additional capital to sustain operations, Insignia's need to generate significantly greater revenue to achieve profitability and Insignia's liquidity and capital needs. Further details on these and other risks are set forth in Insignia Solutions' filings with the SEC, including its most recent filings on Forms 10-K and 10-Q. These filings are available on a website maintained by the SEC at http://www.sec.gov. Insignia Solutions does not undertake an obligation to update forward-looking or other statements in this release. About Insignia Solutions Insignia enables mobile operators and terminal manufacturers to manage a growing, complex and diverse community of mobile devices. Insignia's products and services radically reduce customer care and recall costs, maintain device integrity, and enable a wide range of new mobile services. Insignia SSPv2 product is a complete standard-based mobile device management offering, which includes client provisioning technologies supported by most of the mobile devices in the past, OMA-DM based technology used by current mobile devices and future OMA-DM based technologies. Founded in 1986, Insignia has a long history of innovation, stewardship of major industry standards, and the trust of dozens of manufacturers around the world. Insignia Solutions is traded on NASDAQ under the symbol INSG. Insignia is headquartered in Fremont, California For the unincorporated community in Yolo County, California, see . Fremont (IPA: /ˈfriːmɒnt/) is a city in California that was incorporated on January 23, 1956, from the merger of five smaller communities: , with research and development and European operations based in the United Kingdom and Sweden as well as regional offices in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and Seoul. For additional information about Insignia or its products, please visit www.insignia.com. Insignia's global customer list includes ACCS ACCS Air Command and Control System (NATO) ACCS Advanced Cisco Campus Switching ACCS Association of Copyright for Computer Software ACCS Air Command & Control System ACCS Airborne Command & Control Squadron , Amena, Axalto, Campuz Mobile, CTBC CTBC Computer Take Back Campaign CTBC Cape Town Bridge Club (South Africa) , Dobson, I wireless, MTN MTN A short-form for Medium Term Note. MTN Medium term notes issued by corporations, much like shorter-term commercial paper. MTN See medium-term note (MTN). , New World Mobility, Porta, Telstra, 3, Soutec, Spinbox and Vodacom. Insignia, Insignia Solutions, and the Insignia Solutions logo are registered trademarks of Insignia Solutions, Inc. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion