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OTHER PRESS RELEASES 2002 October 13, 2002 December 21, 2002 2003 January 22, 2003 January 23, 2003 April 15, 2003 July 2, 2003 September 10, 2003 October 13, 2003 2004 January 21, 2004 June 21, 2004 June 22, 2004 August 23, 2004 November 15, 2004 2005 March 10, 2005 May 26, 2005 June 21, 2005 |
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June 22, 2004 Press Release KFGI ANNOUNCES $1.5 MILLION B-ROUND FUNDING EFFORT Proceeds Will Be Used to Acquire Additional Manufacturing Capacity DALLAS, TX-- Kalm-Forsythe Global Innovations, Ltd. (KFGI), a leading designer and distributor of high-performance composite products announced that it has initiated a secondary funding round of $1.5 million. The Dallas-based manufacturer of non-metallic components plans to use the combined proceeds of this funding round along with Round “A” funds to acquire additional development and manufacturing capacity. The company plans to issue 1,579,000 shares at a subscription price of $.95 per Partner Share. The price of the Round B shares are roughly 19% higher than the initial Round A subscription price of $.80 per Partner Share. Earlier this year, the company was able to raise $1.1 million in its initial Round A financing effort, which was 40% oversubscribed in less than two months. “Due to the recent growth of radio-frequency identification (RFID) in the material handling applications, we expect to significantly grow our production capabilities for RFID-friendly non-metallic conveyors", said Carl W. Forsythe, CEO of KFGI. “We will use these funds to internally grow or purchase manufacturing capacity to provide the development and manufacturing capabilities that are necessary for us to meet the anticipated demand for RFID infrastructure products for airports and distribution centers", he added. KFGI uses select strategic partners in manufacturing and integration to distribute its patented non-metallic conveyor systems. On June 21, 2004, one of KFGI key partners, FKI Logistex® (www.fkilogistex.com), a global leader in providing total baggage handling solutions, announces the award of a contract for the second and third phases of the 100-percent hold-baggage screening, RFID baggage tracking, baggage sortation, and inline explosives detection system at Las Vegas’ McCarran International Airport (www.mccarran.com). The two contracts follow the FKI Logistex contract win for the first phase of the project where KFGI provided 21 non-metallic conveyor systems. KFGI expects to produce significantly more non-metallic conveyor sections for the remaining two phases at Las Vegas McCarran International Airport. KFGI develops high-performance composite components which help customers dramatically increase product performance in industrial, commercial and military applications. KFGI is a full-service company, providing turnkey research, design and production services. The company holds numerous patents related to composite materials and material handling products. Contact: Carl W. Forsythe Phone: 214-373-4562 Fax: 214-891-3366 Email: cforsythe@kfgi.com http://www.kfgi.com |
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