ROLLING MEADOWS, Ill.,
June 16, 2011 /PRNewswire/ --
Quadrant 4 Systems Corp. (OTCQB: QFOR), a leading IT consulting
company ("Quadrant 4"), today announced the closing of a second
phase of its working capital financing arrangement with Porter
Capital Corporation ("Porter Capital"). The Company has received
additional capital in the amount of $3.5
million from Porter Capital, which will be used to
fund Quadrant 4's existing consulting and solutions businesses.
Quadrant 4 closed on the first phase of its working capital line in
the amount of $3.5 Million in early
March 2010.
"We have built a great, long-standing relationship with Porter.
Porter Capital clearly understands the IT industry and has provided
us with a strategic advantage in implementing our business model.
With the two phases now complete, we have raised a total of
$7 million, which will be used to
further organic growth within our consulting and IT-enabled
solutions businesses," said Dr. Nandu Thondavadi, CEO of Quadrant
4.
"This is a true partnership at work. We are excited at the
prospects of seeing Quadrant 4 continue to grow and achieve new
corporate milestones," said Sal
Trupiano, Chief Operating Officer of Porter.
"The speed, efficiency and transparency of this working capital
line of financing has been truly exemplary. We are pleased to have
partnered with such high-quality investors," said Dhru Desai, Chairman of Quadrant 4.
About Porter Capital
Headquartered in Birmingham,
AL, Porter Capital assists clients across the U.S. to obtain
the best financing option for their businesses. The Porter Capital
Corporation is part of The Porter Capital Group, which also
includes Porter Bridge Loan Company and Capital Partners Leasing.
In 2011, Porter Capital celebrates its 20th anniversary and is
proud to have provided over $2.5
billion in funding since inception. To learn more about
Porter Capital, our services, or to contact us, please visit us
online at www.theportercapitalgroup.com.
About Quadrant 4 Systems
Quadrant 4 Systems Corp. is a leading provider the next
generation IT Services and ITES led by a team of accomplished IT
industry veterans. By leveraging its talents and facilities in
North America and off-shore
offices in India, the Company
provides smart-sourced solutions that help over 150 business
customers achieve their goals of developing customized solutions
and cost savings across multiple verticals and geographies. With
three acquisitions completed, Quadrant's growth-through-acquisition
business model has yielded sustained year-over-year growth in
earnings, profitability and market recognition. For more
information on Quadrant 4, please visit www.quadrantfour.com.
Forward-Looking Statements
This release contains forward-looking statements which are
subject to the inherent uncertainties in predicting future results
and conditions. Any statements that are not statements of
historical fact (including statements containing the words
"believes," "plans," "anticipate," "expects," "estimates," and
similar expressions) should be considered to be forward-looking
statements, within the meaning of Section 27A of the Securities Act
of 1933, and Section 21E of the Exchange Act of 1934, as each is
amended, for which the Private Securities Litigation Reform Act of
1995 provides a safe harbor. Certain factors (including but not
limited to those risk factors identified from time to time in our
filings with the Securities and Exchange Commission as well as
changes in economic conditions; outcome of negotiations; changes in
the Company's access to necessary capital; outcome of litigation;
volatility of capital markets; variability and timing of business
opportunities; changes in accounting policies and practices; the
effects of internal organizational changes; adverse state and
federal regulation and legislation; and the occurrence of
extraordinary or catastrophic events and terrorist acts; or other
unforeseen changes in circumstances) could cause actual results and
conditions to differ materially from those projected in such
forward-looking statements. We do not undertake any obligation to
release publicly revised or updated forward-looking information,
and such information included in this release is based on
information currently available and may not be reliable after this
date.
Investor Contact:
DC Consulting, LLC
(407)792-3332
investorinfo@dcconsultingllc.com
SOURCE Quadrant 4 Systems Corp.