SOURCE: OptiCon Systems, Inc.

November 16, 2009 08:00 ET

OptiCon Board Approves Use of Existing $84M Company Valuation

Report to Be Used as a Guideline for Current Development Efforts

ST. PETERSBURG, FL--(Marketwire - November 16, 2009) - OptiCon Systems, Inc. (OTCBB: OPCN) a global provider of OSS (Operational Support System) software applications for the Energy and Telecommunications industries, announced today that its Board of Directors had voted to approve the use of the previously issued $84,000,000.00 valuation prepared by the Valuation Research Corporation.

According to Malcolm F. Welch, Chairman of the Board, "The Board of Director's has reviewed the existing Appraisal and associated metrics and has determined that the valuation represents a reasonable value for the company's existing software products and that an update is not required at this time."

About OptiCon Systems

OptiCon Systems, Inc., through its subsidiary, provides Wireline, Wireless and fiber optics network management solutions offering proprietary state-of-the-art software, professional services and integrated systems. OptiCon Systems have been in use by companies seeking the best solution in managing their networks for the past 10 years. The company's software solutions automate all aspects of the physical and logical layer management, fault detection and delivery of information. The scalability of the software systems permits the Company to target large communications and telecom companies servicing millions of global customers to medium-sized companies managing a single facility. Besides OptiCon Network Manager (ONMS), the company will soon offer PowerCon Energy Systems (PES) that is designed to manage large power networks and facilities for power and alternative energy companies globally. The PES/ONMS isolates (power/fiber) cable cuts, breaks, and faults, and service degradation and other power and optical events to within plus or minus five feet of the event, and produces a global positioning system location for the outage to an approximate five foot section of cable.

For more information, please visit

Forward-Looking Statements

This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.

Contact Information