Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - DecisionPoint Systems, Inc. | f8k121609_decisionpnt.htm |
| EX-10.1 - SECURITIES PURCHASE AGREEMENT - DecisionPoint Systems, Inc. | f8k121609ex10i_decisionpnt.htm |
| EX-10.2 - FORM OF NOTE - DecisionPoint Systems, Inc. | f8k121609ex10ii_decisionpnt.htm |
| EX-10.3 - FORM OF WARRANT - DecisionPoint Systems, Inc. | f8k121609ex10iii_decisionpnt.htm |
Exhibit
99.1
|
News
For Immediate Release
|
 |
DecisionPoint
Systems Raises $2.5 Million for Growth of Operations
Foothill
Ranch, CA — December 21, 2009– DecisionPoint Systems, Inc. (OTCBB:DNPI), a
leading enterprise mobility solutions provider, today announced that it issued
$2,500,000 of non-convertible 15% Senior Subordinated Secured Promissory Notes
resulting in net proceeds of $2,425,000. The Notes, with an initial
term of 18 months, can be repaid at any time at a premium or extended to
November 30, 2011 with monthly amortization payments beginning on March 31,
2010. The Notes were issued with 1,000,000 warrants exercisable at
$0.50 per share, 1,000,000 warrants exercisable at $0.60 per share, and 500,000
shares in DecisionPoint Systems, Inc.’s stock.
Nicholas
Toms, Chief Executive Officer of Decisionpoint Systems, stated, "This
transaction increases our working capital and will enable us to invest in new
products and services and additional resources and marketing activities to
support significant recent contract wins, as well as anticipated growth going
into 2010. We have delivered significant increases in
profitability over the past year and are positioning ourselves to continue this
momentum."
The transaction
was led by Genesis Merchant Partners LP, for which Sands Brothers Asset
Management LLC serves as investment advisor. Tim Doede, a principal at Genesis
Merchant Partners commented, “We are excited by the opportunity to support
DecisionPoint as they continue to grow their business. We believe
DecisionPoint’s management has demonstrated the ability to execute their growth
strategy and create significant value for investors.”
For more
information please visit:
http://www.decisionpt.com/news
About
DecisionPoint Systems
DecisionPoint
Systems, Inc. (OTCBB: DNPI) delivers improved productivity and operational
advantages to its clients by helping them move their business decision points
closer to their customers. They do this by making enterprise software
applications accessible to the front-line worker anytime, anywhere.
DecisionPoint utilizes all the latest wireless, mobility, and RFID technologies.
For more information on DecisionPoint Systems visit http://www.decisionpt.com/news.
Under The
Private Securities Litigation Reform Act of 1995: Except for historical
information contained herein, the statements in this news release are
forward-looking statements that are made pursuant to the safe harbor provisions
of the Private Securities Act of 1995. Forward-looking statements involve known
and unknown risks and uncertainties, which may cause a company's actual results,
performance and achievement in the future to differ materially from forecasted
results, performance, and achievement. These risks and uncertainties are
described in the Company's periodic filings with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly release the results
of any revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof, or to reflect the occurrence of
unanticipated events or changes in the Company's plans or
expectation.
Contact:
Laurel
Moody
Corporate
Profile, LLC
646.810.0608
t