SOURCE: Hathaway Corporation

November 09, 2006 08:31 ET

Hathaway Corporation (HWYI) Updates New Investors on Business Model

ST. PETERSBURG, FL -- (MARKET WIRE) -- November 9, 2006 -- Hathaway Corporation (PINKSHEETS: HWYI) announced today the company has received many inquiries from new shareholders and potential investors regarding the Company's business model.

The company issued the following statement regarding their operations:

"Over the past few days, we've seen a tremendous increase in the movement of our stock and have received countless inquiries from shareholders and potential investors on how our business model is progressing. Our wholly owned subsidiary, OptiCon Systems Inc, is in the final stages of the spin-off and Diabetes Detections Device Inc. (DDI) has a complete working prototype of the Vibrameter and is ready to begin clinical trial testing. The interest for this medical device has increased dramatically and we've had many conversations with several mobile device manufacturers for possible joint ventures. In addition, we're currently looking at two other acquisitions in the telecommunications sector in both South America and the South Pacific," stated Mr. Paul D. Lisenby, acting CEO of Hathaway. Mr. Lisenby adds, "Hathaway's business model is seen as a rather outstanding appreciation potential here for our investors. Each acquisition will result in either a cash or share dividend when it is either sold or spun off as a public company. Those dividends will be based on the percentage of shares each shareholder has in HWYI. Hathaway plans 2-3 acquisitions per year. In the case of our first acquisition, OptiCon, the dividend should be extraordinarily attractive as the company expects Opticon to begin trading, based on certain valuations of $84M. A copy of the valuation report has been supplied to NASD and will be supplied to SEC per our filing requirements."

For shareholders looking for more details on OptiCon and DDI, please visit the website at http://www.hathawayglobal.com."

About Hathaway Corporation

Hathaway Corporation develops and acquires undervalued companies that bring a shift in how communications are delivered and serviced globally. Hathaway continues to seek out and capitalize on emerging technologies. Their first acquisition, OptiCon Systems, was first developed and sold by Corning. Corning spent millions of dollars and over seven years developing the Fiber Optic Management System currently marketed and sold by OptiCon Systems Inc. OptiCon serves over 70% of the global 500 companies such as Adelphia, Charter, Comcast, Comcast/AT&T, Cox, Time Warner, and BrightHouse. Through Companies such as OptiCon and DDI, Hathaway brings the communication solutions of the future to today's business marketplace. To request further information about Hathaway, please email us at investors@hathawayglobal.com.

Safe Harbor

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.

Contact Information

  • Contact:
    FutureTechIR for Hathaway Corporation
    Investor Relations
    (817) 812-2105
    or
    727-417-9338