COLORADO SPRINGS, Colo., April 22, 2004 (PRIMEZONE) -- Maximum Dynamics, Inc. (OTCBB:MXDYE), a projects management and back office services company with subsidiaries focused on technology solutions, business process management and wireless communications, announced today that it has entered into a Standby Equity Distribution Agreement with Cornell Capital Partners, L.P., a Delaware limited partnership, of Jersey City, New Jersey. Under the agreement and subject to its terms and conditions, Cornell will purchase newly issued common shares from MXDY, to a maximum market value of $10 million, over a 24-month period. This announcement does not constitute an offer of any securities for sale.
The decision to sell common stock to Cornell is entirely at MXDY's discretion, and the agreement does not contain any minimums as to amount or frequency, except that MXDY can only draw down once every seven trading days. MXDY's ability to utilize the facility is subject to an effective registration statement with the United States Securities and Exchange Commission.
"We are pleased to announce we closed yesterday with Cornell Capital and look forward to working with them," said MXDY's CFO, Joshua Wolcott. "This funding should provide us with additional capabilities to implement our business plan."
Brian D. Keane, S.V.P. Corporate Finance at Cornell Capital, stated, "We look forward to working with MXDY's strong management team as they focus on their projects."
Maximum Dynamics is a projects management company that utilizes a fully functional back office located in Cape Town, South Africa to manage business projects. It currently has 26 projects that it is managing either as the direct project managers, relationship managers, or deal brokers in four continents. These projects include mobile logistics (TagNet), mobile commerce (M.POS), village banking (M.POS), business process management, enterprise application integration, supply chain management and procurement, back office services, wireless Internet communications in urban and rural settings, commodities trading, alternative fuel and economic development businesses.
For more information on Maximum Dynamics, visit the company's website at http://www.maximumdynamics.com.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. Maximum Dynamics assumes no obligation to update the information contained in this press release. Maximum Dynamics' future results may be affected by its ability to continue to implement its hedge fund administration services, its newly acquired Internet marketing capabilities, its dependence on procuring highly competitive hedge fund administration contracts, its dependence on hiring and retaining qualified professionals, potential fluctuations in its quarterly operating results, its dependence on certain key employees and its ability to timely and effectively integrate the businesses it may acquire.