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Hathaway Corporation Begins Due Dilligence Process to Acquire Daedalus Health
Tuesday March 14, 2006
Daedalus Health Would Be the Third Wholly Owned Subsidiary of Hathaway Corporation
Hathaway Corporation is pleased to announce that they have begun the due diligence process and discussion with Daedalus Health for a possible acquisition by the company. Once the due diligence process is completed, a letter of intent with agreed upon terms will be issued and signed by both parties.
Daedalus Health provides communication systems to keep track of bioterrorism, bird flu, avian flu, and global influenza. Daedalus Health programs -- ranging from the monitoring and reporting of global health issues to the automated monitoring of seniors and others requiring assistance -- starts with situational awareness and enables a timely and informed response.
National 922 is a telephone-based national health reporting, assessment, and direction system to provide service to the individual caller and to provide situational awareness to health practitioners, first responders, and decision-makers at all levels of the government.
"Our business model at Hathaway is to seek out companies within the communications industry with disruptive technologies that bring a shift in how communications are delivered and serviced globally. Daedalus Health has the technology to monitor and report global health issues. As the world continues to be exposed to bioterrorism, flues, and/or global influenza, a system to monitor and react to these situations is critical to any government seeking to maintain order. This acquisition will allow Hathaway to deliver technology that can assist Governmental agencies such as Homeland Security and the CDC in addressing these important issues," stated Paul Lisenby, acting CEO of Hathaway Corporation.
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. Originally, OptiCon Systems was 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, 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 approvals for anticipated actions.
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