The next big fad I believe will be wearable computing. With communications becoming more portable so are computers. Why not where the computer? XYBR, I believe will be huge. They have many patents for there wearable computer hardware and software. 27 Million shares out, but this one could really catch on. Rumored to have more news with IBM. Heres the latest news release.
(PR NEWSWIRE) IBM Global Finance Extends Credit Facility to Xybernaut(R)
IBM Global Finance Extends Credit Facility to Xybernaut(R)
FAIRFAX, Va., Dec. 2 /PRNewswire/ -- Xybernaut Corporation (Nasdaq: XYBR),
the leader in wearable computing, today announced IBM Global Finance
(NYSE: IBM) had extended Xybernaut a $4 million credit facility, under which
Xybernaut will receive a term loan of $1 million against inventory and a $3
million credit line to finance large customer purchases from purchase order
through conversion into accounts receivable.
Edward G. Newman, president and chief executive officer of Xybernaut,
commented, "We are very pleased with this credit facility not only because it
provides us with substantial flexibility to finance our inventories and
receivables, but because it was structured to provide financing for larger
orders. We look forward to expanding our relationship with IBM Global Finance
to take advantage of their worldwide presence, vast financial resources and
unique understanding of technology markets as we develop the market for
wearable PCs and our next-generation products."
About IBM Global Finance
IBM Global Financing offers businesses of all sizes leasing and financing
solutions for hardware, software and services acquired from IBM and IBM
Business Partners. Serving customers in more than 40 countries, IBM Global
Financing provides a broad array of asset management services. In addition,
IBM Global Financing provides flexible commercial financing offering for
inventory, accounts receivable and acquisition financing to resellers and
remarketers.
About Xybernaut Corporation
Xybernaut Corporation is the leading provider of wearable computing
hardware, software and services. The company's patented wearable computer is
a full-function, WINTEL, Pentium PC that allows users hands-free access to
information in the computer's internal storage, in local area networks and on
the Internet on an as-needed, where-needed basis. Xybernaut's software is
designed to provide users with the right information when and where it's
needed, using consistent navigation techniques and screen presentations. With
the MA IV, customers can realize immediate savings in maintenance and repair,
diagnosis, inspection, inventory control and data collection procedures. Key
industries using Xybernaut's products include manufacturing, distribution,
transportation, government, and utilities. Headquartered in Fairfax,
Virginia, Xybernaut has offices and subsidiaries in Europe (Germany) and Asia
(Japan). Visit Xybernaut's web site at xybernaut.com.
This press release contains forward-looking statements within the meaning
of The Private Securities Litigation Reform Act of 1995 (the "Act"). In
particular, when used in the preceding discussion, the words "plan,"
"confident that," "believe," "expect," or "intend to," and similar conditional
expressions are intended to identify forward-looking statements within the
meaning of the Act and are subject to the safe harbor created by the Act.
Such statements are subject to certain risks and uncertainties and actual
results could differ materially from those expressed in any of the forward-
looking statements. Such risks and uncertainties include, but are not limited
to, market conditions, the availability of components and production of the
Mobile Assistant, general acceptance of the Company's products and
technologies, competitive factors, the ability to successfully complete
additional financings and other risks described in the Company's SEC reports
and filings.
SOURCE Xybernaut Corporation
-0- 12/02/1999
/CONTACT: Press - Robin Bono, Director of Corporate Communications of
Xybernaut Corporation, 703-631-6925, rbono@xybernaut.com; or Investor - Ron
Stabiner of The Wall Street Group, 212-888-4848, wallstreetgroup@msn.com, for
Xybernaut Corporation/
/Web site: xybernaut.com
(XYBR IBM)
CO: Xybernaut Corporation
ST: Virginia
IN: CPR
SU:
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