PENNSAUKEN, NJ — (Marketwired) — 12/17/15 — Lattice Incorporated (OTCQB: LTTC) has repurchased and cancelled all of the shares of its Series A preferred, Series C preferred, and Series D preferred stock.
The share repurchase provides a more favorable capital structure for new investors to the Company:
Eliminates a large shareholder derivative overhang.
Eliminates the requirement that certain financing options be approved by the holder of the preferred shares.
“The repurchase of preferred shares is a significant step for us in our growth process,” noted Paul Burgess, CEO of Lattice. “It provides us with more flexibility to raise capital that will support additional investments in R&D, Sales, and Marketing. These investments will drive continued development of new solutions and entry into new markets.”
Lattice–s Corrections Operating Platform (COP) is an integrated network of highly secure solutions, including inmate communication systems, prepaid calling options, voicemail, video visitation and arraignment, and mobile devices. Lattice–s inmate management module efficiently manages prison processes, including communications monitoring, commissary purchases, account funding and billing, biometrics, booking, incident reporting, and more. For more information, visit .
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company–s financing plans; (ii) trends affecting the company–s financial condition or results of operations; (iii) the company–s growth strategy and operating strategy; and (iv) the risk factors disclosed in the Company–s periodic reports filed with the SEC. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company–s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk factors disclosed in the company–s Forms 10-Q previously filed with the SEC.
Contacts:
Investor Relations
Jon Cunningham
RedChip Companies, Inc.
Tel: +1-800-733-2447, ext. 107
Corporate
Scott Raskas
Director of Marketing
Lattice Incorporated
Tel: +1-856-910-1166, x2113
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