Message #2 From:
NewsBot Date: October 23, 2006 05:31:00 AM
HWYI News Hathaway Corporation's (HWYI) Wholly Owned Subsidiary OptiCon Nears Completion of Audit for SEC
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Hathaway Corporation (Pink Sheets:HWYI)
announced today that the auditing process for their wholly-owned
subsidiary OptiCon Systems, Inc. is nearing completion. We’re
hoping that we will be able to file with SEC shortly. The “record
date” of the spin-off for the current
shareholders of HWYI will be posted as soon as we’ve
received an effective date of our form 10-SB from SEC. The “spin-off
date” will be established when a trading
symbol is received from NASD. OptiCon’s IPO
will be priced at a minimum of $2 per share and a maximum of $4 per
share, based on an independent valuation of $84M.
“This process is sometimes long and
frustrating, not only to us but to our shareholders as well,”
stated Paul D. Lisenby, interim CEO of Hathaway. Mr. Lisenby adds, “The
final process is near completion and we feel the filing of the form
10-SB shall take place in the very near future. We ask our shareholders
to be patient. OptiCon is also currently in negotiations for several
major contracts with global telecommunications companies and we’re
hoping to close these deals very soon.”
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.
Their first acquisition, OptiCon Systems, was first developed by Corning
and sold to their customers. 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 Bright House. Through companies like OptiCon and
DDI, Hathaway brings the communication 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.
