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Hathaway's Subsidiary OptiCon Receives Capital Infusion for Expansion of Operations
Monday May 1, 2006
Hathaway Corporation is pleased to announce that the company has received a capital infusion from a private investor to expand their OptiCon Systems Software deployment.
The company will use the funds to increase their sales and marketing budgets and to continue the development of the R4 version of the operating system.
"We're extremely excited to receive this funding. Our continued development of the R4 software is on target and the ongoing marketing of the software to potential customers will increase dramatically. Our goal of $2.5 million in revenues this year should be reached thanks to this funding," stated Paul D. Lisenby, acting CEO of Hathaway. "In addition, we've received several promising inquiries from major telecommunications companies. Their interest, like many other cable and communications companies, is how the OptiCon Software can dramatically decrease their service costs associated with their fiber networks."
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 BrightHouse. 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 approval for anticipated actions.
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