Press Release: National Scientific
Announces Equity Line of Credit
Posted By Kathy Smith
Date: October 11, 2001
NSCT receives notice that the SEC has declared the Form SB-2 effective which registers shares under the equity line of credit in which Ladenburg Thalmann & Co. Inc. acted as placement agent.
SCOTTSDALE, Ariz., Oct 11 - National Scientific Corporation (OTC Bulletin Board: NSCT) announced today it has just received notice that the U.S. Securities and Exchange Commission (SEC) has declared the Form SB-2 effective which registers shares under the equity line of credit in which Ladenburg Thalmann & Co. Inc. acted as placement agent.
The acceptance of the Form SB-2 filed with the SEC now allows NSC to begin to draw on the $24 million equity line of credit announced in May 2001. Draws under the equity line of credit can be requested up to 24 times over a two-year period. NSC is not required at any time to draw funds from the line of credit. Sam Carr, NSC's Chief Financial Officer, said, "Access to these funds will allow us to continue making progress at commercializing our products and expanding our revenue sources."
Lou Ross, National Scientific's Chairman & CEO, stated,
"The ability to draw under the equity line of credit enhances our stability. I
am confident we have the products, excellent staff, and now the liquidity which
will enhance our ability to implement our business plan and secure our ultimate
About National Scientific
National Scientific Corporation, headquartered in Scottsdale, Arizona, has developed the Atomy Digital Technology (ADT) family of electronic components and designs, all intended to service portable electronic OEM customers. ADT devices are designed for real-world applications where power and space are at the highest premium, such as SmartCards, mobile & PDA computing, cellular, general wireless and other general portable applications. The company's basket of technologies and patents covers a wide range of devices including fast ultra-low-power and ultra-dense memory, amplifiers, inductors, resonators, and other new high-efficiency versions of basic electronic designs. For more information about the company, its people, and its technology, please visit http://www.national-scientific.com.
Certain information and comments contained in this press release may be forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Factors set forth in the company's Annual Report on Form 10-KSB for the fiscal year ended September 30, 2000, its subsequent Form 10-QSB filings together with other factors that appear in this press release or in the Company's other Securities and Exchange Commission filings could affect the Company's actual results and could cause the Company's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of the company, in this press release. The Company undertakes no obligation to publicly release the results of any revisions to the forward-looking statements made in this press release to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events.
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SOURCE National Scientific Corporation
Director of Investor Relations of National Scientific Corporation
Phone +1-480-948-8324 ext. 115