WEST CHESTER, Pa., Aug. 3, 2006 — ComCam, Inc. (OTC Bulletin Board: CMCA) has initiated a SEDNA (Strategic Enhancement & Development of Networked Assets) business development program to acquire assets, technologies and companies for development.
Says ComCam's CEO, Don Gilbreath, "We are evaluating and performing due diligence on the first candidate companies for incubation under the SEDNA program. SEDNA will operate much like a 'mutual fund' but additionally provide management, technology and financial assistance services to currently under-capitalized businesses as well as early-stage innovative entrepreneurial ventures." Gilbreath added, "SEDNA reflects a focus on growth through acquisition and incubation. The name Sedna comes from the Inuit goddess of the sea, from whom, according to legend, all sea creatures were created. The name was also used by NASA for the newest planet-like object discovered in the solar system."
ComCam, Inc. ) is a Business Development Company (BDC) as outlined in the SEC Investment Company Act of 1940. Its BDC status enables it to raise capital and invest in developing companies and technologies. SEDNA will provide growth capital as well as a range of strategic, operational and managerial resources to its partner companies to help them develop their technologies and build value in their businesses. SEDNA's goal is to transform resources and ideas into new businesses, products and services. SEDNA will focus on opportunities in the areas of mobile wireless platforms, homeland and military security, commercial and residential Internet video services, analytic software, strategic alternative energy, and medical devices and services.
ComCam International, Inc. ), ComCam, Inc.'s subsidiary, is its first development effort. It offers advanced Internet Protocol (IP) cameras, video microservers, specialized viewing software and end-to-end network control solutions. It has worked with leading U.S. government agencies that include the Department of Defense, U.S. Navy, Federal Bureau of Investigation and Department of the Interior.
A number of statements contained in this press release may be considered to be forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results the Company may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. The Company encourages the public to read the information provided here in conjunction with its most recent filings on Form 10KSB and Form 10QSB. Both companies' public filings may be viewed at http://www.sec.gov.
Contact:
David Rosen
V.P., Corporate Development
ComCam International, Inc.
Tel.: 610.436.8089
Email
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