Intelligentias Announces $8 Million Conversion of Debt into Common Stock
March 27 2007 - 7:00AM
PR Newswire (US)
Vision Opportunity Capital Management, LLC Converts Entire Debt
Position into Equity SAN FRANCISCO, March 27 /PRNewswire-FirstCall/
-- Intelligentias, Inc. (OTC:ITLI) (BULLETIN BOARD: ITLI) , a
recognized leader in the Homeland Security Industry providing Data
Retention, Tracking and Investigatory Services for Telcos, ISPs and
Law Enforcement Agencies around the world, announced today that it
has signed an agreement with New York-based Vision Opportunity
Capital Management, LLC, a fundamental research-based investment
adviser specializing in private placements, to convert the entire
$8,000,000 debt position Vision manages into common stock equity.
In the agreement signed by Adam Benowitz, co-founder of Vision
Opportunity Capital Management, the firm has elected to convert
$8,000,000 of the principal into shares of common stock. Vision
accepted restricted shares, with Benowitz explaining, "After
watching the growing activity in the Data Retention space over the
last several months, and how Intelligentias was so successfully
capitalizing on the opportunities presented by current and upcoming
legislation requiring all Telcos and ISPs to utilize Data Retention
technology to maintain call and web records, we became more and
more confident in our investment, and we ultimately decided that
this was a company that was going to be an integral part of the
market, and one we could support over the long term." Luigi
Caramico, President of Intelligentias, commented ,"I think it says
a lot about Intelligentias and how we are positioned in the market
to have such a large vote of confidence from an organization like
Vision, which is becoming a real name on Wall Street as one of the
most astute registered investment advisors in small companies."
Caramico went on to explain that the equity provided by the
conversion will put Intelligentias on solid ground as it moves
forward to make acquisitions and expand its sales channel. Caramico
also expressed excitement that Intelligentias may now qualify to
move its listing up to become a member of a major exchange. Vision
Opportunity Capital Management, LLC is an SEC registered investment
advisor that specializes in making value-oriented investments in
fundamentally strong small-cap public companies. The financial
community is invited to review the Company information on
Intelligentias through the corporate website
http://www.intelligentias.com/ . About Intelligentias
http://www.intelligentias.com/ Intelligentias is a global
data-intelligence conglomerate. Using a worldwide network, we
market Homeland Security products to Law Enforcement Agencies,
Telcos and ISPs in order to prevent terrorism, cyber-crime, and
child exploitation. Our portfolio company Retentia, Inc.
(http://www.retentia.com/) sells Data Retention, Tracking and
Forensics software to some of the largest organizations in the
world. Our portfolio company Investigatia, Inc., launching in 2007,
is our data investigation company. Investigatia intends to focus on
fraud, identity theft, identity authentication and verification.
Our portfolio company Interceptia, Inc., launching in 2007, is our
Lawful Intercept Company. Interceptia intends to focus on Legal
Interception of telecommunications by law enforcement authorities
(LEA's) and intelligence services. About Retentia
http://www.retentia.com/ Retentia is a world leader in data
retention software and services. We provide data capture,
archiving, and forensics solutions for Telcos, ISPs, Enterprises,
and Law Enforcement agencies all over the world. Retentia's Data
Retention Suite (DRS) enables Telcos and ISPs to assist Law
Enforcement Agencies to locate and prosecute terrorists and
criminals as well as to stay in compliance with federal legislation
and directives -- faster and for less money than competing
solutions. Retentia's portfolio of proven Data Retention products
supports the complex scale, security and performance requirements
of some of the world's most demanding organizations such as Telecom
Italia, Telecom Italia Mobile, Fastweb, Ferrovie Dello Stato,
Italian Ministry of Defense, 3 Mobile Media Company and many
others. With its unique specialization, leading-edge technology and
top-tier customer base, Retentia qualifies as one of the most
dynamic and fastest-growing companies in Homeland Security Software
Sector. Retentia, Inc. is a wholly owned subsidiary of
Intelligentias, Inc. (ITLI) Retentia is headquartered in Silicon
Valley with regional offices in London and Rome. Forward-Looking
Statement: This release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All forward-looking statements are inherently uncertain as
they are based on current expectations and assumptions concerning
future events or future performance of the company. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which are only predictions and speak only as of the
date hereof. In evaluating such statements, prospective investors
should review carefully various risks and uncertainties identified
in this release and matters set in the company's SEC filings. These
risks and uncertainties could cause the company's actual results to
differ materially from those indicated in the forward-looking
statements. Contact: Pilot Financial Communications Network Rick
Gean, 480-247-2142 (Investor Relations) DATASOURCE: Intelligentias,
Inc. CONTACT: investors, Rick Gean of Pilot Financial
Communications Network, 480-247-2142, or , for Intelligentias, Inc.
Web site: http://www.intelligentias.com/
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