DNTK, major financing news is out along with expectations of huge sales to come near term. Don't forget ARTM owns 1 million shares of these guys and will participate in their success. I own both.
(BSNS WIRE) Dauphin Technology Inc. Announces Appointment of Sales and M
Dauphin Technology Inc. Announces Appointment of Sales and Marketing Vice
President; Receives $2.25 Million Funding Package
Business Editors/High Tech Writers
PALATINE, Ill.--(BUSINESS WIRE)--June 4, 1999--Dauphin Technology
Inc. (OTC Bulletin Board: DNTK) announced today the appointment of
William W. Dunnam as vice president of sales and marketing, and a
funding commitment in the amount of $2.25 million.
Dunnam brings to Dauphin 20 years of sales and marketing
background drawn from experience with Fortune 500 companies in the
electronics industry. He has extensive background with mass marketing
companies and brings to Dauphin his organizational skills, product
forecasting and budget analysis expertise. A native of California,
Dunnam holds an MBA from Newport University.
"When I first saw Dauphin's new Orasis(TM) handheld computer, I
knew I was looking at the future direction of the computers. I truly
believe our sales growth will explode the company's sales charts
within the next few months," said Dunnam. "There is nothing better for
our sales people than to market a product as exciting and far superior
to any of our competitors."
The $2.25 million funding commitment, which will allow Dauphin to
finance its operations and anticipated sales of the Orasis(TM),
consists of certain monthly draws with an initial advance of $450,000.
This commitment is provided in the form of an equity line by an
established equity fund, which has previously provided financing to
the company.
"Our vertical market sales are solution-oriented and take some
time to conclude. Thus, having the strength of allow these
opportunities to materialize is the key," said Andrew J. Kandalepas,
chairman and CEO of Dauphin. "On the other hand, because our product
is sold as a complete business solutions, sales are normally longer
term but more financially sound."
In related developments, Dauphin has appointed Kostas Arhos as
president of its manufacturing subsidiary, R.M. Schultz & Associates
Inc. Arhos brings 25 years of operations expertise to RMS. "I think it
is a wonderful opportunity and a real chance to turn RMS into a
world-class organization," said Arhos.
Dauphin Technology is a technology holding company that includes
R.M. Schultz & Associates, Inc. (RMS), a contract engineering and
manufacturing services firm. Orasis(TM) is one of the products
assembled at RMS. Dauphin common stock is listed on the
over-the-counter bulletin board under the symbol DNTK.
Certain matters discussed in this news release are
forward-looking statements involving certain risks and uncertainties
including, without limitations, changes in product demand, the
availability of products, change in competition, economic conditions,
various inventory risks due to changes in market conditions and other
risks detailed in the Company's Securities and Exchange Commission
filings and reports.
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