Monday December 19, 8:30 am ET
ST. PETERSBURG, FL--(MARKET WIRE)--Dec 19, 2005 -- Hathaway Corporation (Other OTC:HWYI.PK - News), is pleased to announce that its wholly owned subsidiary, OptiCon Systems, Inc., has engaged Bentley Securities in order to help the Company raise up to $30 Million Dollars in financing. The funding will allow the company to expand its sales and marketing efforts for R3 fiber optic management system and to complete development of its much awaited R4, the next generation fiber optic management suite of solutions.
Bentley Securities will act as OptiCon's exclusive financial advisor and placement agent in using its best efforts basis to arrange equity capital or such other form of financing or commitments. In addition, Bentley Securities will assist the company in the preparation of its information memorandum to be used when presenting the company's investment opportunity to prospective investors.
"We are pleased to have Bentley Securities on board to assist us in this capital raise," states John Batton, CEO and President of OptiCon, Systems, Inc. "The capital will allow us to rapidly complete our suite of fiber management solutions and will give us the ability to hit our target goals of $3 million in revenue for next year, $50 million in 2007 and $125 million in 2008. OptiCon will offer the most advanced fiber optic management solutions in the current global market."
About Hathaway Corporation
Hathaway Corporation develops and acquires undervalued companies that bring a shift in how communications are delivered and serviced globally. Hathaway continues to seek out and capitalize on emerging technologies such as OptiCon Systems that will change the way the world communicates. Corning spent millions of dollars and over seven years developing the Fiber Optic Management System currently marketed and sold by OptiCon Systems Inc. OptiCon serves over 70% of the global 500 companies such as Adelphia, Charter, Comcast, Comcast/AT&T, Cox, Time Warner, and BrightHouse. Hathaway brings the communications solutions of the future to today's business marketplace.
Safe Harbor
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Contact:
Big Apple Consulting USA, Inc. for Hathaway Corporation
Investor Relations
(407) 884-0444 or 1-866-THE-APPLE