DataWorld Solutions, Inc. Announces Bridge Financing
Hauppauge, NY - October 8, 2003
Solutions, Inc. (PinkSheets: DWLD) today announced that it
has successfully completed the first step in its strategic
re-structuring by arranging bridge financing sufficient to
fund the preparation and filing of its regulatory documents.
Once DataWorld becomes current with its filings, the Company
intends to re-apply for listing on the OTC Bulletin Board.
is receiving the funding from Augustine Capital Management,
a diversified merchant bank based in Chicago. The Company
has engaged the services of BP Audit Group CPAs, an SEC qualified
public accounting firm based in Farmingdale, NY to prepare
the documents for its filings.
McPhee, CEO of DataWorld commented, "We are pleased to
be moving ahead with the ambitious restructuring plan we announced
last month and to have the demonstrated financial commitment
of Augustine Capital. DataWorld is executing a plan designed
to strengthen our capital base, increase shareholder value,
provide liquidity, and enable the Company to assume its place
as an industry leader. This is a strong first step toward
achieving our objectives."
Solutions, Inc. is a multi-regional manufacturer of electronic
cable assemblies used in providing connectivity solutions,
which includes systems integration, for customers operating
a wide range of data systems. This includes linking or connecting
standard or proprietary electronic devices and peripheral
components from different vendors to provide solutions for
various customer requirements. DataWorld adds value by providing
connectivity solutions, which may include distributed sales
for passive components such as electronic connectors, electronic
wire and cable, cabinets and racks and patch panels, and active
components, including hubs, bridges,
for historical matter, the matters in this press release are
forward-looking statements and are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform
Act of 1995. The forward-looking statements reflect assumptions,
and involve risks and uncertainties, which might affect DataWorld's
business and prospects and cause actual results to differ
materially from these forward-looking statements, which are
detailed in DataWorld's public filings with the SEC.