DENVER, March 9, 2004 (PRIMEZONE) -- Nighthawk Systems, Inc. (OTCBB:NIHK), a provider of intelligent remote power control equipment and services, today reported that it has received multiple offers for funding of its near-term growth plans as a result of recent presentations to brokerage firms and private equity groups. During February 2004 the Company conducted meetings with several financial institutions for the purpose of soliciting their involvement in and support of the Company's sales and marketing plan, as well as to increase awareness of the Company's overall business plan. The Company is currently evaluating these offers, as well as related expressions of interest in participating in the funding proposals, in an effort to choose the best funding alternative for its business plan.
H. Douglas Saathoff, Nighthawk's CEO, and Myron Anduri, Nighthawk's President, made numerous presentations discussing the Company's current product line and the Company's ability to expand on opportunities with existing customers and to create new relationships within the Electric Utility, Traffic Control and Computer Rebooting markets. The Company also presented new opportunities, including the opportunity to be first-to-market with low-cost, satellite-based monitoring and control solutions on a global basis as a result of Nighthawk's relationship with ORBCOMM, a low-earth orbit satellite company. Presentations were made to companies with existing relationships with Nighthawk as well as to new, potential financial partners.
Mr. Saathoff stated that: "As we seek to initiate new sales and marketing efforts during 2004, it is important that we not only find the right financial partners for the plan but that we also keep our existing partners and shareholders informed of our plans and progress. I was very pleased with the responses to our presentations and anticipate that we will work with several groups either directly or indirectly in funding our planned growth. We have significant opportunities ahead of us and I look forward to informing shareholders soon about our decisions for financing the implementation of our sales and marketing efforts."
About Nighthawk Systems, Inc.
Nighthawk Systems, Inc. designs and manufactures easy-to-use, 'plug and play' products that can remotely control virtually any electrical device from any location. Nighthawk products are easily installed and operated by anyone, regardless of technical capability. Nighthawk services customers in a variety of markets including electric utilities, traffic control, computer systems, commercial lighting and irrigation. For more information visit www.nighthawksystems.com.
Forward-looking statements.
Statements contained in this release, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, demand and acceptance of new or existing businesses, capital resources and future financial results are "forward-looking" statements as contemplated by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward- looking statements. There may be other factors not mentioned above that may cause actual results to differ materially from any forward-looking information.