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Hathaway (HWYI) Files Form 10 With SEC for the Spin-Off of the Wholly Owned Subsidiary OptiCon Systems, Inc.
Thursday March 1, 2007
Hathaway Corporation, a business development company that focuses on the development of companies in the communications, telecommunications software and medical devices industries, announced today the company has received final authorization from legal counsel to submit the Form 10 to the SEC for OptiCon Systems, Inc. to become a publicly traded company.
The SEC will begin their review process of the filing and upon completion will issue an opinion as to the effective date of the Form 10.
"It's been a long and arduous process to complete this filing on OptiCon. The hard work we've done in finalizing this process, so OptiCon Systems, Inc. can become publicly traded, was trying at times and we would like to thank our shareholders for their patience and understanding while we completed the finalization and submission of the Form 10. As we move forward in our business model, our subsequent spin offs will be much smoother. We're currently in the process of looking at further acquisitions for additional spin offs thereby rewarding our shareholders with increased value in their investment in Hathaway," stated Mr. Paul D. Lisenby, Interim Chairman and CEO of Hathaway Global.
Hathaway Corporation a business development company that focuses on the development of companies in the communications, telecommunications software and medical devices industries that bring a shift in how communications are delivered and serviced globally. The Hathaway Global business model is to ensure the companies are financially sound and have the management necessary to spin off these companies and take them public, thereby rewarding Hathaway shareholders with dividend shares and/or cash upon final completion. To request further information about Hathaway, please email us at investors@hathawayglobal.com.
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.
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