MYCO News.....
Mycom Group Refinances, Increasing Working Capital
CINCINNATI, Apr 1, 2004 (BUSINESS WIRE) --
Mycom Group, Inc. (OTCBB:MYCO), a technology products, managed services, and software development company headquartered in Cincinnati, Ohio, announced the signing of an agreement, on March 31, 2004, with First Financial Bank of Ohio which provides a more favorable credit facility. The new banking facility, totaling $1,150,000, will improve Mycom's working capital, and reduce the interest rates paid by Mycom on both short term and long term financing. Detailed information concerning the new credit facility, which includes a revolving loan, long term note and credit cards, is provided in the 10K, filed March 30, 2004.
Mycom's President and Chief Operating Officer, Jim Bobbitt stated, "The new credit facility with First Financial will enable us to reduce interest rates and banking costs. It will also provide working capital to advertise and market our new product, mycomPRO(TM) mailMAX II. We introduced the new spam and virus filter January 29th, and our sales organization and resellers are doing a great job, but we want to reach more IT managers, faster. We are starting a media and public relations campaign in April, and the infusion of working capital will allow us to initiate a stronger advertising program with greater reach and frequency."
mycomPRO(TM) mailMAX II scans both inbound and outbound email checking for viruses, harassing or inappropriate (pornographic) content, pictures, and attachments while blocking up to 95% of unwanted spam.
The new, more powerful, spam and virus filtering service, built by Mycom, operates on a highly secure Linux cluster. New and enhanced features include 60% faster processing time, the ability to create users and groups for each domain, greater granularity in spam filtering, an improved user interface, a summary notification option, an enhanced queue monitor and a bypass list for every setting.
It controls attachments, and oversized message delivery and provides unauthorized encryption detection. Address list and bypass list management is available and policy can be controlled by an administrator.
mycomPRO(TM) mailMAX II employs a tiered approach to help combat the ever-changing and rapidly growing problem of spam. The approach consists of four tiers, working in concert and providing granular tailoring of the system to a client's specific needs.
For information and a free trial visit www.mycompro.com
About First Financial Bank
First Financial Bank carries the distinction of being the 12th oldest national bank in the United States. First National Bank of Southwestern Ohio merged with Hebron Deposit Bank, in Northern Kentucky in 2002. The new regional bank became First Financial Bank. The merger produced 35 Retail Banking Centers with 39 ATMs.
First Financial Bank is the lead banking institution of First Financial Bancorp, a multi-billion dollar bank holding company, which formed in 1983. First Financial Bancorp operates a network of 10 affiliates with 102 retail banking centers in Ohio, Indiana, Michigan, and Kentucky. For more information visit www.first-financialbank.com or www.ffbc-oh.com.
About Mycom
The Mycom Group, Inc. is a technology solutions and professional services provider to businesses and organizations throughout North America. It markets a wide range of software, hardware, enterprise solutions and technology services. Mycom develops and markets new software applications and services using the mycomPRO(TM) brand name. The company's technical and communications services include email management, technology security, and networking; ISP and co-location; design, development and web enabling of e-business applications; online and classroom training and instructional design; communications services for businesses; and technical marketing and documentation services. Mycom is headquartered in Cincinnati, Ohio. Mycom Group is on the web at www.mycom.com and www.broughton-int.com and www.mycompro.com
NOTE: This Mycom Group press release may contain certain forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results or outcomes to differ materially from those currently anticipated. Important risks and uncertainties, among others, that could cause our actual results to differ materially from those described in these forward-looking statements include the strength of the U.S. economy and other factors. For additional information about Mycom Group, Inc. please refer to the current Forms 10-KSB and 10-QSB as filed with the Securities and Exchange Commission.
SOURCE: Mycom Group, Inc.
Mycom Group, Inc., Cincinnati
Carol Weinstein, 513-891-7867
Email: pr@mycom.com
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