SOURCE: Hathaway Corporation

August 21, 2007 06:31 ET

Hathaway Corporation's (HWYI) Business Model Gives Shareholders Effective Exit Strategy

Company's Strategy Is to Spin-Off at Least Two Companies Every 14 Months

ST. PETERSBURG, FL--(Marketwire - August 21, 2007) - Hathaway Corporation (PINKSHEETS: HWYI), a company that focuses on acquiring, developing, and managing disruptive technologies in the telecommunications, medical devices, and software fields that change the way companies grow and service their business globally, has reiterated its business model for shareholders following the impending success of its first spin-off, OptiCon Systems, Inc. Besides the obvious exit strategy afforded by a publicly traded company, Hathaway Corporation has created an even more unique and effective exit strategy for shareholders by spinning off acquired companies into publicly traded companies within 1-2 years of acquisition, or by selling them to a large corporation.

Hathaway seeks out companies within the telecommunications, medical devices, and software fields with technologies that bring a shift in how the future is delivered globally. Hathaway made their first acquisition in August 2005, OptiCon Systems, Inc. OptiCon provides a fiber optic network management system that currently runs on over 70% of the major telecoms in the US, such as Adelphia, Charter, Comcast, Comcast/AT&T, Cox, Time Warner, & BrightHouse. OptiCon's public listing will yield a dividend of one share of OptiCon for every two shares of Hathaway held to all the shareholders of record as of the ex-dividend date of August 13, 2007.

Hathaway's second (minority owned) subsidiary, Diabetes Detection, Inc. (DDI), is addressing the worldwide Diabetes epidemic, by developing a patent-pending product converged with simple telecommunications devices such as pagers and cell phones, which test for Neuropathy, an early indicator of Diabetes. DDI is currently in the process of funding and final stages of product development. DDI is set to be spun-off when the Board decides the best scenario most rewarding to our shareholders.

Hathaway plans to make about two to three acquisitions per year.

In a 2006 article on wallstreetcorner.com, Larry Oakley commented that, "I like the fact that each acquisition most likely will result in either a cash or share dividend when it is sold or spun off as a public company. Those dividends will be based on the percentage of shares that each shareholder has."

About Hathaway

Hathaway Global Inc. focuses on acquiring disruptive technologies in the telecommunications, medical devices, and software fields that can change or alter the way companies grow and service their businesses globally. Hathaway provides financial and infrastructural support to create revenue growth companies, positioning them to leverage the opportunities such technologies are typically capable of. Hathaway then offers the company on the public market or facilitates a buyout. Through companies like OptiCon, 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 approvals for anticipated actions.

Contact Information

  • Contact:

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