TYRIA.OB .0001 UPDATE !!!!
Trey Resources Provides Further Transaction Update
Tuesday January 15, 9:15 am ET
Buyer Receives Commitment to Fund Acquisition
LIVINGSTON, N.J., Jan. 15 /PRNewswire-FirstCall/ -- Trey Resources, Inc. (OTC Bulletin Board: TYRIA - News) today reported that SWK Solutions, LLC, the company which has executed a letter of intent to buy substantially all of the assets of SWK Technologies, Inc. from Trey, has received and executed a commitment letter with an institutional investor to finance the acquisition of SWK Technologies.
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SWK Solutions LLC is a limited liability company formed by Jeffrey D. Roth, CEO of SWK Technologies, Inc. and other members of the management team to acquire the business of SWK Technologies.
Mark Meller, CEO of Trey Resources, said, "Receipt of the financing commitment is a major step forward in finalizing the transaction. Drafts of the contracts have been received and are being worked on right now. We will be filing the required paperwork with the SEC shortly. We expect that the transaction will be able to close in the first quarter of 2008 as scheduled."
Jeffrey D. Roth, CEO of SWK Technologies, stated, "We are moving forward expeditiously, and look forward to finalizing the transaction as soon as possible."
About Trey Resources
Trey Resources is involved in the acquisition and build-out of technology and software companies. The Company's growth strategy is to acquire firms in this extensive and expanding, but highly fragmented segment, as it seeks to create substantial value for shareholders. Since June 2004, Trey has acquired SWK Technologies, Inc., Business Tech Solutions Group, Inc., Wolen Katz Associates, and AMP-BEST Consulting, Inc. For more information, visit www.treyresources.com, www.swktech.com, www.mapadoc.com, www.amp-best.com, or contact Trey Resources CEO Mark Meller at (973) 758-9555 or by e-mail at mark.meller@swktech.com. Trey Resources was a recent spin-off of iVoice, Inc.
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