SOURCE: Disaboom

April 17, 2007 06:30 ET

Disaboom Completes $2.89 Million Equity Financing; Adds Key Member to Management Team

DENVER, CO -- (MARKET WIRE) -- April 17, 2007 -- Disaboom, Inc., which is developing the first interactive online community for Americans living with disabilities, today announced that it has closed a private placement with certain accredited investors with respect to 5,796,000 shares of common stock at a purchase price of $0.50 per share, for gross proceeds of $2,898,000. Disaboom recently became a public company as a result of filing a registration statement with the Securities and Exchange Commission (SEC) and expects its common stock to be quoted on the OTC Bulletin Board as early as May 2007.

Disaboom, Inc. was founded to develop the first online community dedicated to transforming the way Americans with disabilities live their lives, and serving as a comprehensive online resource for the disabled, their caregivers, immediate families, rehabilitation providers and employers. There are more than 44 million American adults living with disabilities today. Founded and designed by doctors and fellow Disaboomers to meet this untapped market's specific needs, Disaboom.com will bring together content and tools ranging from specialized health information to social networking to daily living resources, in a single interactive site. The site is scheduled to launch in August 2007.

In addition to becoming a public company and closing $2.89 million in funding, Disaboom recently bolstered its management team, appointing John Walpuck to the combined position of Chief Operating Officer/Chief Financial Officer. Mr. Walpuck brings over 19 years' experience in corporate finance, business operations and general management, and over 10 years' experience working in the Internet services and software development industries. Prior to joining Disaboom, he was Chief Financial Officer of Nine Systems, a streaming media software services company acquired by Akamai Technologies Inc. in December 2006. He has also served as a corporate officer, financial executive and management consultant to privately held and publicly traded companies ranging from start-ups to organizations with over $50 billion in revenue. Mr. Walpuck's experience spans 15 industries and 40 countries. A CPA and CMA, Mr. Walpuck also holds an MBA from the University of Chicago.

"With the addition of this financing and establishing ourselves as a public company, we are well on our way to building the first interactive online community for the vast number of Americans living with disabilities, their caregivers, families, rehabilitation providers and employers," said J.W. Roth, Chairman and CEO of Disaboom. "We are also assembling a strong executive management team and are extremely pleased to welcome John Walpuck on board. He joins dedicated leadership including co-founder and Chief Medical Officer J. Glen House, M.D., who is currently the Medical Director of Penrose Hospital's Center for Neuro & Trauma Rehabilitation, as well as a quadriplegic and a leading voice in the disabled community. John's management discipline, as well as his Internet and software development industry experience, will be extremely valuable to our development and growth."

Mr. Walpuck commented, "I am very excited about Disaboom's business model and prospects, innovator status and de facto market leadership position. Disaboom.com will not only address a sizeable untapped market, but also serve an important social mission by constantly striving to make a significant difference in the lives of the disabled."

Disclaimers & Forward-Looking Statements

This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act"). These statements are based on current expectations, estimates, forecasts, and projections about the industry in which the Company operates and the beliefs and assumptions of the Company's management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions are intended to identify such forward-looking statements. In addition, any statements that refer to projections of the Company's future financial performance, the time line for the launch of the Company's website, the prospects for selling advertising on the website, the Company's anticipated growth and potentials in its business, and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified in our filings with the SEC, available at www.sec.gov. All forward-looking statements made in this press release are made as of the date hereof, and we assume no obligation to update the forward-looking statements included in this news release whether as a result of new information, future events, or otherwise, other than as required by law.

© Disaboom, Inc., 2007.

Contact Information

  • For more information about Disaboom, Inc., contact:
    J.W. Roth
    (720) 279-2549

    Jennifer Jarman
    The Blueshirt Group
    (415) 217-5866

    www.disaboom.com