Universal Communication Systems, Inc. Secures $750,000 In New Financing
Posted on: Friday, 26 August 2005, 06:00 CDT
Universal Communication Systems, Inc. (OTC BB: UCSY), company Chairman and C.E.O. Michael Zwebner announced today that the company has agreed terms for a new financing in the amount of $750,000. The company has issued an 8K filing disclosure in that regard.
Commenting on the new financing, Mr. Michael Zwebner stated: "The Company and its subsidiaries are now growing rapidly and progressing on many fronts. Our new business plan calls for about $3.5 million in new financing, and this first tranche of funding from Alpha Capital Aktiengesellschaft gives us the ability to move forward and to continue to execute our global plans. We are pleased to see the confidence and goodwill shown us by our finance associates."
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Safe Harbor Statement:
Caution Concerning Forward-Looking Statements by Universal Communication Systems, Inc.
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and factors affecting the integration of the businesses of Universal Communication Systems, Inc.
More detailed information about these factors may be found in filings by Universal Communication Systems, Inc. with the Securities and Exchange Commission, including their most recent annual reports on Form 10-KSB and quarterly reports on Form 10-QSB. Universal Communication Systems, Inc. is under no obligation to, and expressly disclaims any such obligation to, update or alter their forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact: Universal Communication Systems, Inc. - Miami Beach Rolando Sablon 305-672-6344 Company web address: http://www.ucsy.com
SOURCE: Universal Communication Systems, Inc.
Source: MARKET WIRE
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