PenUltimate Announces Completion of $ 600,000 Private Placement; Release of new Software in Early 1996
IRVINE, Calif. — December 19, 1995 — PenUltimate Inc. today announced the successful completion of a $ 600,000 private placement to accredited individual and institutional investors.
Richard G. Lull, chief executive officer, said that this funding will allow PenUltimate to complete development of its new generation of software and to engage in initial marketing activities to launch the software's release.
The product, Locomotion(tm), is anticipated to ship in early February, 1996.
Locomotion(tm) is a suite of integrated business applications for Personal Digital Assistants (PDA's) using Apple Computer's Newton 2.0 operating system. Designed for sales professionals and management, Locomotion(tm) enables the mobile worker to organize, collect, view, and communicate information on a very portable, electronic computer. Locomotion(tm) allows the sales professional to easily reference and cross-reference contacts, upcoming events, account and project-specific information and to make notes and complete user definable checklists, wherever their work occurs.
Because the utility application, Central Station(tm), is included in the Locomotion(tm) suite, the sales professional's PDA can exchange and synchronize data with applications operating on a Windows-compatible desk top or notebook computer.
PenUltimate, founded in 1991, provides software for the sales segment of the business community. Not only does PenUltimate provide sales professionals with the tools they need while in transit, the company provides sales organizations and their management a better way to track and evaluate the effectiveness of their sales process.
CONTACT:
PenUltimate Inc., Irvine
Richard G. Lull, 714/476-6360
or
Gordon Media Partners, Highlands Ranch, Colo.
Bill Stewart, 303/683-1074