Intrusion Inc. Closes $500,000 Private Placement
September 26 2007 - 6:07PM
PR Newswire (US)
RICHARDSON, Texas, Sept. 26 /PRNewswire-FirstCall/ -- Intrusion
Inc. (OTC:INTZ) (BULLETIN BOARD: INTZ) , today announced that it
has closed a $500,000 private placement of its Common Stock. In the
private placement, the Company sold 1,190,476 shares of common
stock at a price of $0.42 per share; the price was based on the
Company's Common Stock price at 110% of the average closing price
per share for the twenty trading days ended on September 26, 2007.
G. Ward Paxton, the company's Chairman, President and Chief
Executive Officer invested $500,000 in the private placement. The
company intends to file a Form 8-K with the Securities and Exchange
Commission by September 27, 2007 that will provide a description of
the private placement and a copy of the definitive agreement. About
Intrusion Inc. Intrusion Inc. is a global provider of data leak
prevention, regulated information compliance, entity identification
systems, and network intrusion prevention and detection solutions.
Intrusion's product families include the Compliance Commander(TM)
for data leak prevention and regulated information compliance,
TraceCop identification and location system, and Intrusion
SecureNet(TM) for network intrusion prevention and detection.
Intrusion's products help protect critical information assets by
quickly detecting, protecting, analyzing and reporting attacks or
misuse of classified, private and regulated information for
government and enterprise networks. For more information, please
visit http://www.intrusion.com/. This release, other than
historical information, may include forward- looking statements
regarding future events or the future financial performance of the
Company. These statements are made under the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995
and involve risks and uncertainties which could cause actual
results to differ materially from those in the forward-looking
statements, including but not limited to the following: the
difficulties in forecasting future sales caused by current economic
and market conditions, the effect of military actions on government
and corporate spending on information security products, spending
patterns of, and appropriations to, U.S. government entities, the
impact of our cost reduction programs and our refocused product
line, the difficulties and uncertainties in successfully developing
and introducing new products in emerging markets, market acceptance
of our products, the impact of our sustained losses on our ability
to successfully operate and grow our business, increase our stock
price, our ability to generate sufficient cash flow or obtain
additional financing on acceptable terms in order to fund ongoing
liquidity needs, the highly competitive market for our products,
the effects of sales and implementation cycles for our products on
our quarterly results, difficulties in accurately estimating market
growth, the consolidation of the information security industry, our
ability to expand revenues through indirect sales channels, the
impact of changing economic conditions, business conditions in the
information security industry, our ability to manage acquisitions
effectively, our ability to manage discontinued operations
effectively, the impact of market peers and their products as well
as risks concerning future technology and others identified in our
Annual Report on Form 10-KSB, as amended, and other Securities and
Exchange Commission filings. These filings can be obtained by
contacting Intrusion Investor Relations. None of the securities
referenced in this press release have been registered with the
Securities and Exchange Commission. These securities may not be
sold, nor may offers to buy these securities be accepted, prior to
the time registration of these securities becomes effective, unless
an applicable exemption from registration is available. This
announcement is neither an offer to sell or a solicitation of an
offer to buy, nor shall there be any sale of these securities in
any state in which such offer, solicitation or sale would be
unlawful, prior to such registration or absent such exemption under
applicable federal and state securities laws. Financial Contact
Michael L. Paxton, VP, CFO 972.301.3658, Media Contact Jay Barbour,
Vice President of Marketing 972.664.8107,
http://www.newscom.com/cgi-bin/prnh/20030703/INTRUSIONLOGO
DATASOURCE: Intrusion Inc. CONTACT: Financial, Michael L. Paxton,
VP, CFO, +1-972-301-3658, , or media, Jay Barbour, Vice President
of Marketing, +1-972-664-8107, Web site: http://www.intrusion.com/
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