Business Services Industry
Advanced Lumitech, Inc. d/b/a Brightec, Secures Bridge Funding; Creator of the World's First Photographic Quality Glow-in-the-Dark Paper Secures Bridge Funding for Working Capital
Business Wire, June 20, 2006
SOUTH NATICK, Mass. -- Advanced Lumitech, Inc., d/b/a Brightec (OTC: ADLU.PK) creator of the world's first photographic quality glow-in-the-dark paper, today announced that it has secured $750,000.00 in bridge funding through RossFialkow Capital Partners, LLP of Newton, Massachusetts. Proceeds of the financing are to be used to fund past and present auditing and legal expenses related to SEC required filing obligations, product development, the building of inventory, and implementation of marketing initiatives.
"To be viable in the commercial marketplace, it is essential that we continue our research and development efforts towards the goal of lowering our product cost, and then subsequently build inventory to meet customer demand," said Patrick Planche, President and CEO of Brightec. "Having working capital will help us achieve these objectives and should also make it possible to secure long-term funding in the future."
Added Mr. Planche, "Our choice to work with RossFialkow Capital Partners, LLP, was an important decision for us. Not only were they able to provide the bridge financing, but they bring to the relationship a wealth of experience with many valuable business contacts."
"Brightec offers an exciting product that is engaging and easy to use, with unlimited applications and markets," said Jay Fialkow, Managing Partner of RossFialkow Capital Partners, LLP. Added Jeffrey Ross, Co-Managing Partner, "Glow-in-the-dark is a concept everyone understands. However, to offer a photographic quality glow-in-the-dark product that really works is what sets Brightec apart from the rest of the field. This positions Brightec to be a formidable player in the specialty media marketplace."
About RossFialkow Capital Partners, LLP
RossFialkow Capital Partners is an investment banking firm with deep experience in business operations, mergers and acquisitions, strategic planning, and investment banking. The company's principals have extensive experience ranging from business turn-arounds and successful sales to large public companies, to the counseling of hundreds of privately held and family businesses, and in managing partner roles for two Boston-area law firms: Kaye Fialkow, and Stroock, Stroock & Lavan. The firm focuses its efforts on assisting owners of small and mid-size family and closely held businesses with planning, growth and funding objectives. For more information on RossFialkow Capital Partners and its services, please visit www.rossfialkowcapital.com.
About Brightec
Brightec (Advanced Lumitech, Inc., d/b/a Brightec OTC: ADLU.PK) is the creator of the world's first patented photographic quality glow-in-the-dark paper. Brightec's paper charges automatically with just a few minutes of exposure to light and will glow for hours -- dramatically outshining conventional glow-in-the-dark products. With Brightec(R) inkjet or offset paper, users can print razor sharp color pictures that appear normal by day and are luminescent at night in full photographic detail. Innovative and versatile, Brightec paper is ideal for applications in numerous commercial markets including advertising, promotions, premiums and consumer or industrial products. Brightec brand glow-in-the-dark inkjet paper in 4"x6", 8.5"x11" and 12"x18" formats are available from the Company's website. For more information on Brightec and its products, please visit www.brightec.com.
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.
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