SOURCE: Hathaway Global

February 16, 2007 07:30 ET

Hathaway Global (HWYI) Issues Further Statement Regarding OptiCon Systems Inc. Spin-Off

ST. PETERSBURG, FL -- (MARKET WIRE) -- February 16, 2007 -- Hathaway Global (PINKSHEETS: HWYI), a business development company that focuses on the development of companies in the communications, telecommunications software and medical devices industries, announced today the company has received the following information from NASDAQ regarding the record date of the spin-off of OptiCon Systems Inc.:

"Be advised that the shares of HWYI will continue to trade with the right to receive the shares of OptiCon Systems Inc. until after the shares of OptiCon Systems Inc. are registered and are ready to be distributed. This is called a 'due bill period'; a due bill period extends from the record date until the ex-dividend date. During this period, no additional shares of HWYI can be issued into the marketplace (i.e. any splits or dividends)."

Earlier this week, Hathaway Global announced that the company had finalized the Form 10 filing for OptiCon Systems, Inc. and that all Hathaway shareholders of record at the close of business on Monday, February 19, 2007 were eligible to receive the appropriate amount of shares in OptiCon based on the previously established rate of 1 share of Opticon for every 2 shares of Hathaway owned.

"As we have informed our investors, 19th of February, 2007 is the official date of record for the OptiCon Spin-off. However, the above information sent to our company by NASDAQ allows for investors to receive shares in OptiCon past this record date according to their 'due bill period' timeframe. We urge any potential investor to contact their broker for further explanation regarding this 'due bill period,'" stated Mr. Paul D. Lisenby, CEO of Hathaway Global.

About Hathaway

Hathaway Global develops and acquires undervalued companies that bring a shift in how communications are delivered and serviced globally. OptiCon Systems, their wholly owned subsidiary, currently develops, maintains, manages, markets and sells a Fiber Optic Management System that was originally developed by Corning Cable. OptiCon serves over 70% of the global 500 companies such as Adelphia, Charter, Comcast, Comcast/AT&T, Cox, Time Warner, and Bright House.

Hathaway Global continues to seek out and capitalize on emerging technologies that will change the way the world communicates. 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:
    Investor Relations
    James Caldwell
    (727) 447-0514
    Concept Communications Group, LLC