IN THE NEWS
TeleContinuity, Inc. Completes $2.6 Million Series A
May 7, 2004 Rockville, MD -- TeleContinuity, Inc., the world's first provider of a disaster-proof and survivable backup telecommunications network, announced today that it finalized its initial equity offering of $2.6 million on May 7, 2004. In addition to the Series A investment round, the company has previously received a $1.747 million Advanced Technology Program award from the U.S. National Institute of Standards and Technology (NIST) an arm of the U.S. Commerce Department in September 2003, and several hundred thousand dollars in grants/loans from the State of Maryland's Department of Economic Development and the State of Maryland's Montgomery County Department of Economic Development. Investors in the Series A included a lead investment from Cameron General Corporation, a leading provider of insurance, reinsurance related products and services, as well as a group of sophisticated private investors from the U.S. and Japan who believe TeleContinuity survivable telephone network will provide the critical backup, survivable telephone service on a global basis. "With all the hard work TeleContinuity is pleased that so many sophisticated investors have recognized the value of the company and the commercial opportunities TeleContinuity brings to the telecommunications marketplace," said Roy Pinchot, CEO of TeleContinuity, Inc. The funds raised in the Series A round will be used to expand the company's marketing and sales efforts in the United States and extend TeleContinuity sales presence worldwide through the establishment of TeleContinuity.Japan and TeleContinuity.Europe.
Contact for Information:
Roy Pinchot
Chief Executive Officer
Tel: (240) 453-6235
Email: rpinchot@telecontinuity.com