biz.yahoo.com
SOURCE: Xybernaut Corporation
Xybernaut(R) Receives Over $12 Million in Capital; Cash Available on Favorable Terms to Execute Business Plan
FAIRFAX, Va., Jan. 31 /PRNewswire/ -- Xybernaut Corporation (Nasdaq: XYBR - news), the leader in wearable computing, today announced that it had recently received over $12 million in permanent capital through private placements of common stock, placements of non-convertible term debt and the exercise of warrants issued previously with earlier financings. This amount excludes funds received from working capital financing.
John F. Moynahan, senior vice president and CFO of Xybernaut Corporation, stated, ``Along with the recent improvement in our stock price and our working capital facility with IBM Global Finance, this increase in capital will allow us to continue executing our business plan to remain the leader in the growing market for wearable PCs. Going forward, these factors should allow us to obtain any capital that may be needed on favorable terms and consistent with our goal of minimizing dilution to our shareholders.'
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 Pentium PC that runs Microsoft MS-DOS, Windows, and Windows NT, along with UNIX, Linux and other operating systems that run on the Intel x86 architecture. The MA IV© 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 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.
MS-DOS, Windows and Windows NT are registered trademarks of Microsoft Corporation.
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 |
