SOURCE: AmbiCom Holdings

AmbiCom Holdings

September 21, 2010 08:15 ET

AmbiCom Signs Credit Facility With East West Bank

SAN JOSE, CA--(Marketwire - September 21, 2010) -  AmbiCom Holdings, Inc. (OTCBB: ABHI) today announced that it has signed a one million dollar credit facility accounts receivable financing facility with East West Bank, one of the largest independent commercial banks headquartered in California.

"This credit facility enables us to continue to ramp up our sales among the healthcare, automotive and gaming industries," said John Hwang, Chairman and Chief Executive Officer of AmbiCom. "We know that in today's challenging economic environment where many businesses are unable to get credit facilities, this agreement is a strong demonstration of the strength of AmbiCom's product and underlying business."

East West Bank is the largest bank in the nation focused on serving the Asian American Community. Its consistent dedication and commitment to its customers has facilitated the growth and prosperity of businesses locally and abroad.

About East West:

East West Bancorp is a publicly owned company with $20 billion in assets and is traded on the Nasdaq Global Select Market under the symbol "EWBC." The Company's wholly owned subsidiary, East West bank, is one of the largest independent commercial banks headquartered in California with over 130 locations worldwide, including the U.S. markets of California, New York, Georgia, Massachusetts, Texas and Washington. In Greater China, East West's presence includes a full service branch in Hong Kong and representative offices in Beijing, Shanghai, Shenzhen and Taipei. Through a wholly-owned subsidiary bank, East West's presence in Greater China also includes full service branches in Shanghai and Shantou and representative offices in Beijing and Guangzhou. For more information on East West Bancorp, visit the Company's website at www.eastwestbank.com.

About AmbiCom

AmbiCom is headquartered in San Jose, California, and is a leading designer and developer of wireless products focusing on the wireless medical industry. The Company's wireless modules and devices are based on the Company's innovative application software for both Wi-Fi and Bluetooth technologies. AmbiCom is committed to wireless design and development of software and hardware and is bringing new and innovative products to the wireless medical markets and other sectors. The Company plans to grow organically, and to augment that growth by selectively acquiring complementary products and technologies via acquisition opportunities deemed to be of strategic value.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in this forward-looking statements including, but not limited to, our ability to maintain our website and associated computer systems, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company's Current Report on Form 8-K filed on January 15, 2010, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

Contact Information

  • Contact:
    Beverly Jedynak
    Martin E. Janis & Company, Inc.
    312-943-1123
    Email Contact