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FINGERMATRIX COMPLETES PRIVATE PLACEMENT

 FINGERMATRIX COMPLETES PRIVATE PLACEMENT
 NORTH WHITE PLAINS, N.Y., March 31 /PRNewswire/ -- Fingermatrix,


Inc. (NASDAQ: FINX) announced today that it has raised approximately $500,000 through the sale of nearly 50,000 units (NASDAQ: FINXL) to private investors.
 A unit consists of one share of Series B redeemable cumulative convertible preferred stock (NASDAQ: FINXO), plus five Class A redeemable warrants (NASDAQ: FINXM) exercisable at $3 per share.
 Michael Schiller, president, said the company will use the proceeds to finance the production of equipment to fill the increasing flow of orders.
 Currently, Fingermatrix is negotiating for the purchase of over $10 million worth of its forensic idenification systems to several customers.
 Fingermatrix, Inc. supplies automated advanced biometric image processing systems to the commercial, industrial, governmental and law enforcement markets.
 -0- 3/31/92
 /CONTACT: Scott G. Schiller of Fingermatrix, 914-428-5441/
 (FINX) CO: Fingermatrix, Inc. ST: New York IN: SU:


PS -- NY003 -- 3184 03/31/92 07:00 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Mar 31, 1992
Words:157
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