~CGUD .05 X .055 News...
Com-Guard, Inc. Announces $3,400,000 Funding for Its PC Products, Inc. Subsidiary
Aug 9, 2005 7:00:00 AM
CARLSBAD, Calif., Aug. 9 /PRNewswire-FirstCall/ -- Com-Guard, Inc. (OTC Bulletin Board: CGUD), announced the first closing of $ 3,400,000 from a Private Placement Offering managed by vFinance, Inc. for Com-Guard's wholly owned subsidiary PC Products, Inc. as previously announced in an April 6, 2005 Press Release. The Private Placement has a maximum offering total of $10,000,000 and expires on September 30, 2005.
As stated previously, Mr. Eric Rand, Managing Director of vFinance, Inc said, "We are very excited about this opportunity to finance the growth of the PC Products, Inc. subsidiary. The raising of the money will be through a debt offering in the PC Products, Inc. subsidiary and will not cause any dilution to Com-Guard, Inc. shareholders. The monies to be raised will allow the PC Products, Inc. subsidiary to deliver on orders presently in their backlog, finance its rapid growth. The forthcoming profits will be used to build its infrastructure."
As previously disclosed in the April 6, 2005 release, Wintergreen Systems in Elkart, IN will manufacture and support a family of PCs configured with Com-Guard's ComputerSafe(TM) software and /or its trial version of the software. Wintergreen will also provide service and support for the PCs currently on order and those forthcoming through the distribution sales channel. PC Products, Inc. will provide funding for the component parts, software, hardware, other PC related products, leading-edge technology and management expertise to grow its business. The long term strategy of the Company is to provide Com-Guard, Inc. designed and developed security products with the PC products that are sold and build a reputation for providing SecurePC(TM) products to the PC industry.
Dr. Edward W. Savarese, Chairman and CEO said, "PC Products, Inc. will use the proceeds from this offering to finance the purchase of parts and inventory, for manufacturing and sales expenses related to selling PCs and related products. This financing provides us with the first stage of capital needed to support our anticipated growth of the PC Products, Inc. subsidiary"
"The PC Products subsidiary will be the way in which we can start to develop a presence in the industry as leaders in Secure Computing. We have sold our Com-Guard(TM) and now our ComputerSafe(TM) software for the past two years and we realize that the market is looking for more complete Secure Computing environments," said Mr. Joseph Sigismonti, President of Com-Guard, Inc.
About Com-Guard, Inc:
Com-Guard, Inc. develops and markets a line of software and hardware products for the computer industry that provide enhanced system security for both individual users and network administrators. The Company focus is on detection, protection, and notification of various security threats. The Company provides a group of products, based on its state-of-the-art software technology, ComputerSafe(TM), that provides PC users with an extensive set of security measures that address Internet security, file locking and encryption security (including e-mail), and internal facility security. For more information about Com-Guard, Inc. please visit www.com-guard.com.
About PC Products, Inc.
PC Products, Inc. was incorporated on June 8, 2004. The stated goal of the Company is to focus on and provide a delivery mechanism for the products and technology of its parent company, Com-Guard, Inc.
About Wintergreen Systems:
Headquartered in Elkhart, Indiana, Wintergreen Systems, Inc. is a manufacturer and distributor of computer products. Wintergreen Systems, Inc. sells Intel and AMD based computers through a network of mass merchandising, indirect resellers and catalog resellers. For more information about Wintergreen Systems, Inc., please visit www.wintergreensys.com.
About vFinance:
vFinance, Inc. is a rapidly growing financial services company that provides research, investment banking, brokerage and trading services to more than 10,000 corporate, institutional and private clients worldwide. The Company has offices in New York, San Jose, Houston, Boca Raton and 24 other cities nationwide. Its subsidiary, vFinance Investments, Inc., is a registered broker-dealer with the SEC and a member of the NASD.
Forward Looking Statements:
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Any statements that express or involve discussions with respect to predictions, goals, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact may be "forward looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. The actual results the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties, including the current economic and geopolitical environment, information technology spending trends, lack of Com-Guard's operating history, uncertainty of product acceptance, uncertainty of ability to compete effectively in a new market and the uncertainty of profitability and cash flow of Com-Guard's product offerings. These risks and uncertainties may cause actual outcomes and results to differ materially from expectations in this press release. These and other risks are detailed in Com-Guard's quarterly reports on Form 10-QSB's and annual report on Form 10-KSB.
Contact: Dr. Edward W. Savarese, CEO or Mr. Joseph Sigismonti, President
Tel: (760) 431-2206
Fax: (760) 431-7999 email: info@com-guard.com
ComputerSafe, SafePC, SecurePC, Com-Guard Pro and Sensor Card are trademarks of Com-Guard.com, Inc 2003. All other trademarks referenced herein are the property of their respective owners.
SOURCE Com-Guard, Inc.
----------------------------------------------
Dr. Edward W. Savarese
CEO
or Mr. Joseph Sigismonti
President
both of Com-Guard
Inc.
+1-760-431-2206
or fax
+1-760-431-7999
info@com-guard.com
