ISELIN, N.J., June 27, 2007 (PRIME NEWSWIRE) -- SoftNet Technology Corp. (OTC BB:STTC.OB - News) announced today that effective June 26, 2007 it received the first of three installments of gross proceeds of up to $1,100,000 by the issuance of $1,100,000 of Convertible Notes to four accredited investors. The Convertible Notes mature one year from the effective date and may be converted, at the option of the note-holders, into shares of common stock of SoftNet Technology Corp. JPC Capital Partners, Inc, an Atlanta based NASD firm, acted as exclusive placement agent for this transaction. Please visit http://www.jpccapital.com for more information.
Jim Booth, CEO of SoftNet Technology Corp., stated, ``This funding provides us with the necessary working capital to maximize shareholder value by increasing revenue, cash flow and earnings of SoftNet Technology Corp. This infusion of cash, albeit in three installments, will fuel our revenue growth. Increased working capital will enable us to aggressively scale the companies reach around the territories.''
Please visit our website at http://www.softnettechnology.com for more information or for Investor Relations; please contact the company directly at 908-212-1799, option 7, James Booth--CEO, or by e-mail at: investorrelation@softnettc.com
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp. (STTC) may differ materially from these statements due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
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