Voyant Management Exchanges Debt for Equity Investment in Company
December 17 2007 - 11:38AM
Marketwired
PALO ALTO, CA , a diversified media and technology holding
company dedicated to improving the quality of the digital world for
both businesses and consumers, announced that its senior management
team has converted a significant portion of deferred pay and
company debt into convertible preferred stock. All six members of
Voyant's senior management team have signed definitive agreements
for this conversion, as detailed in the company's 8-K SEC filing
dated Dec. 13, 2007.
"All of the members of our senior management team believe very
strongly in Voyant's business model, focused on the intersection of
media and technology," said Dana Waldman, Voyant's chief executive
officer. The team has deferred a significant fraction of its salary
in recent months, and several members are owed various sums for
past transactions. "We wanted to demonstrate our belief in the
company by personally making these commitments to Voyant."
"These transactions are good for the company because they
decrease the liability on our balance sheet and further align the
interests of our management with our shareholders," added Chief
Financial Officer David R. Wells. "We also feel that they are in
our own personal best interests, because we believe that this
company, with its compelling vision, technology, connections,
products, and know-how, is poised to do very well."
About Voyant
Voyant is a media and technology holding company focused on
bringing innovative technologies, media assets, and strategic
partnerships together to deliver next-generation commercial and
consumer solutions to empower, enhance, and enrich our digital
world. The company works with strategic partners in the technology
and entertainment sectors to locate, partner with, and acquire
complementary technologies and media assets that position the
company in the value chain from content creation to direct
distribution to the consumer. More information can be found at
www.voyant.net. To receive public information, including press
releases, conference calls, SEC filings, profiles, investor kits,
news alerts and other pertinent information, please register at
www.voyant.net/investorpass.
Safe Harbor
This news release contains forward-looking statements, including
but not limited to, those that refer to the company's future
development plans or operating results. Actual results could differ
materially from those anticipated due to risk factors that include,
but are not limited to, lack of timely development of products and
services; lack of market acceptance of products, services and
technologies; adverse government regulations; competition; breach
of contract; inability to secure sufficient capital for continued
operations; inability to earn revenue or profits; dependence on and
retention of key individuals; inability to obtain or protect
intellectual property rights; lower sales and higher operating
costs than expected; technological obsolescence of the company's
products; limited operating history and risks inherent in the
company's markets and business and other factors discussed on our
website on the "Investors" page, in our most recent Annual Report
on Form 10-KSB and our Quarterly Reports on Form 10-QSB filed with
the SEC. Investors are advised to read our Annual Report, quarterly
reports and current reports on Form 8-K filed after our most recent
annual or quarterly report. The forward-looking statements in this
press release represent our current views as of the dates of
individual pages and we disclaim any obligation to update these
forward-looking statements.
Media and Investor Contacts: Sean Collins CCG Investor Relations
310-477-9800, ext. 202 Sean.Collins@ccgir.com Howard Gostfrand
American Capital Ventures 305-918-7000 info@amcapventures.com
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