ACE*COMM Provides Update on Proposed $4.2 Million Financing
May 31 2007 - 9:03AM
Business Wire
ACE*COMM Corporation (NASDAQ: ACEC) today announced that
negotiations on its proposed $4.2 million convertible debt
financing are proceeding and that it expects to sign a contract in
the next several days. The financing, originally announced in the
Company�s May 15, 2007 third-quarter-2007 earnings announcement,
will provide ACE*COMM with working capital to continue successfully
penetrating the wireless market with its Patrol Suite� product
line. Additional details on the financing and use of proceeds will
be provided when the transaction is finalized. About ACE*COMM
ACE*COMM is a global provider of advanced operations support
systems (OSS) and service delivery solutions for telecommunications
service providers and enterprises. ACE*COMM�s advanced OSS
solutions are applicable to a range of legacy through
next-generation networks that include wired, wireless, voice, data,
multimedia and Internet communications networks. Network operators
use them for revenue management, cost reduction, improved
operational efficiency, acceleration of time-to-market for new
services, and more effective customer care. ACE*COMM�s service
delivery solutions provide mobile service providers with
award-winning, in-demand consumer-oriented services to help them
achieve and sustain market share, generate new revenue and position
themselves as market innovators. For more than 20 years, ACE*COMM
technology has been effectively deployed for more than 300
customers, spanning more than 4000 installations in 70 countries
worldwide. ACE*COMM-installed products are currently enabling the
success of customers and partners such as Alcatel, AT&T, Cisco,
General Dynamics, IBM, Level 3 Communications, Marconi, Motorola,
Northrop Grumman, Siemens, and Unisys. Headquartered in
Gaithersburg, MD, near Washington, DC, ACE*COMM has corporate
offices in Australia, Canada, China, and the UK. ACE*COMM is an ISO
9001 quality standard compliant company. For more information,
visit www.acecomm.com. Except for historical information, the
matters discussed in this news release include forward-looking
statements that are subject to certain risks and uncertainties that
could cause the actual results to differ materially from those
projected, including, but not limited to: the failure of
anticipated demand to materialize, delays or cancellations of
orders due to various factors, including business and economic
conditions in the U.S. and foreign countries; industry-wide
slowdowns, any limitations on customers� financial resources, the
continued convergence of voice and data networks, the continuing
success of the Company�s strategic alliances for product
development and marketing, customer purchasing and budgetary
patterns or lack thereof; pricing pressures and the impact of
competitive products; the timely development and acceptance of new
products; the Company�s ability to adequately support its
operations, and other risks detailed from time to time in the
Company�s Report on Form 10-Q and other reports filed with the
Securities Exchange Commission.
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