PSI Corporation Closes Additional Rounds of Financing.Company Receives $1M for Equipment Deployment COLORADO SPRINGS Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. , Colo. -- PSI Corporation, operating as Pantel Systems, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : PSCP PSCP Project Specific Certification Plan (FAA) PSCP Public Safety and Crime Prevention Committee (National League of Cities) PSCP Power Supply Circuit Pack (Ciena) ), a provider of customer-facing public access self-service systems, today announced that it has closed on two rounds of financing to meet its financial needs for equipment deployment. In July, the Company reported that it had closed on an initial round from private accredited investors. On July 26, 2006, the Company filed an 8-K statement with the SEC disclosing a finance facility of up to $1.5M. The Company has increased the facility to a total of $2.3M to finance equipment deployments scheduled during the remainder of 2006. The company closed on a second round under the facility totaling $500,000 from private accredited investors. The Company anticipates closing the balance of the facility prior to the end of the year. Additionally, the Company closed on a third round of funding from an institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. , Lazurus Capital of Denver, CO. The funding will also be used for equipment deployment and minor operational needs. As a follow-up to the Corporate Update released on Monday, November 6, 2006, the Company has received a final engineering certification of its e-banking kiosk. The Company requires its banking partner approval prior to deployment of its kiosk. Ken Upcraft, 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 PSI Corporation stated, "After previously referenced engineering modifications, I am pleased to report we now have engineering approval on our e-banking kiosks and we are one step closer to deployment. The closing of these funding rounds is beneficial. We are deploying our digital signage Digital signage is a form of out-of-home advertising in which content and messages displayed on an electronic screen, or digital sign, can be changed without modification to the physical sign, typically with the goal of delivering targeted messages to specific locations at with these funds and will begin the kiosk deployment schedule as soon as our banking partner approves the systems which we expect shortly. About PSI Corporation PSI Corporation, operating as Pantel Systems, Inc., provides interactive customer communications systems and applications that support the targeted marketing programs at point-of-purchase (POP), service and information. The Company has two vertical products: full motion video digital signage and full service e-banking kiosks. Forward-looking statements made in this release are made pursuant to the "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. " provision of the Private Securities Reform Act of 1995. Forward-looking statements made by PSI Corporation are not a guarantee of future performance. |
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