Message #50 From:
NewsBot Date: August 4, 2008 03:19:52 PM
SMRL Stock: Simtrol, Inc. Announces Additional Financing
Simtrol, Inc. (OTCBB: SMRL Stock), an innovative developer of device
management software, today announced a financing closing consisting of
$2.7 million of private placement equity financing to accredited
investors. The private placement consists of Series C preferred stock
and warrants to purchase common stock and includes the conversion of the
$1.5 million in convertible notes originated in January 2008, per the
terms of the notes.
“When we completed our convertible debt
financing in January 2008, we anticipated that we would require
additional capital during the year to accelerate sales, marketing, and
operations efforts in key vertical markets,”
commented Oliver Cooper, Chief Executive Officer, Simtrol. “Our
business plan resonates with investors interested in investments in
software solutions which address complex problems in rapidly changing
markets.”
About the Company
Simtrol, Inc. is an innovative developer of software that manages
controllable devices such as display monitors, video cameras, and
medical equipment for diverse markets such as digital signage, security
and surveillance, and healthcare. Functioning as an enterprise-class “Universal
Remote Control” for the $42 billion market for
controllable devices, Simtrol’s Device Manager™
(DM) software enables unlimited users to easily control unlimited
devices via configurable user interfaces that run on commodity
touchpanels, PC monitors, and PDAs. DM also enables IT help desks to
remotely monitor, diagnose, service, and schedule these devices via a
web interface. Contrasted with proprietary hardware-based solutions,
Simtrol’s open-software approach offers the
flexibility and scalability required to manage the complexity arising
from the proliferation of devices and applications. Simtrol licenses its
software to end-users, OEM partners, and value added resellers (VARs).
For more information about Simtrol, please visit www.simtrol.com.
This announcement may contain forward-looking statements pursuant to the
"safe-harbor" provisions of the Private Securities Litigation Reform Act
of 1995. These forward looking statements involve risks and
uncertainties such as product demand, market and customer acceptance,
the effect of economic conditions, competition, pricing, development
difficulties, foreign currency risks, costs of capital, continued
certification by credit card associations, the ability to consummate and
integrate acquisitions, and other risks detailed in the Company's SEC
filings, including the most recently filed Form 10-Q or Form 10-K, as
applicable. The Company undertakes no obligation to revise any of these
statements to reflect future circumstances or the occurrence of
unanticipated events.
