Austin, TX – February 20, 2015 – Ecrypt Technologies (OTCQB: ECRY) is pleased to announce that the Company has secured well over $2M in strategic financing.
Funding comes from multiple sources and is comprised of both equity and debt financing, including an equity line of credit.
“It’s important for a firm to have different types of financing partners during its evolution from a small to large entity: usually short term, rapid funding ignites the company, followed by mid and long term financing strategies to rapidly build orders and shipments. With our first ECRYPT ONE software package shipment now behind us, we are now shifting our focus to longer term equity partners,” commented Dr. Thomas A. Cellucci, Ecrypt’s CEO. “The fact that we are now able to secure funding from multiple sources reflects not only the merits of our business plan, but our ability to execute to it.”
The financing includes $400,000 in cash, and commitments for an additional $600,000, while the equity line of credit enables the Company to tap into up to an additional $1.8M on an-as-needed basis.
About Ecrypt Technologies
Ecrypt Technologies, Inc. is a high technology security solutions portfolio provider that assists corporate entities, governments and individuals protect their organizations against both physical and cyber-attacks through its offering of the most technically-advanced, cost-effective and reliable software, tools and systems.
For more information, visit http://ecryptinc.com
Safe Harbor Statement
This press release contains certain “forward-looking statements,” as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations. The economic, competitive, governmental, technological and other factors identified in the Company’s previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Ecrypt Technologies, Inc.