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Technology Stocks : XYBR - Xybernaut -- Ignore unavailable to you. Want to Upgrade?

To: Roy F who wrote (5630)	6/19/2003 11:09:42 AM
From: Roy F	Read Replies (1) \| Respond to of 6847

Xybernaut Completes $7.75 Million Financing Thursday June 19, 9:20 am ET FAIRFAX, Va.--(BUSINESS WIRE)--June 19, 2003--Xybernaut® Corporation (NASDAQ:XYBR - News) today announced that it has recently completed financings totaling approximately $7.75 million through private placements of its common stock and the exercise of outstanding warrants. Details of the financings are set forth in the Company's registration statement filed today with the Securities and Exchange Commission. "This financing strengthens our cash position and will allow us to aggressively pursue new business opportunities and partnerships," said Steven A. Newman, president of Xybernaut. "We also will use portions of the proceeds from the financing for product development, focused sales and marketing initiatives and debt reduction. When combined with our recent reductions of operating expenses, the completion of this financing allows the company to focus on near term milestones and long term growth," he added. About Xybernaut.....