| Hathaway
Global Announces Company to Split Into Two Divisions
Monday January 8, 2007
New Divisions to Concentrate on Core Businesses
of Communications and Medical Devices
Hathaway Corporation, a leading global provider
of communications and telecommunications software, announced today
the company has decided to split into two separate divisions in
order to fully focus on the emerging markets of telecommunications
and medical devices.
Hathaway Communications will handle all acquisitions and spin-offs
of emerging companies related to any telecommunications and Hathaway
Medical will continue to pursue all acquisitions and spin-offs of
emerging technologies related to medical devices similar to Diabetes
Detection, Inc. Current Hathaway shareholders will receive two shares
with every share of Hathaway held when the split becomes effective.
Both divisions will be publicly traded. More information about the
split will be provided as it becomes available. The split will not
effect the OptiCon spin-off.
"Our goal all along is to insure we continue to bring in exciting
and disruptive technologies in both the communications and medical
fields. With the decision to split our company into two separate
divisions, this will create less confusion for the public markets
and also will expedite the process to acquire and spin-off companies
and reward our shareholders with dividends," stated Mr. Paul
D. Lisenby, interim Chairman and CEO of Hathaway.
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.
|
