MILPITAS, CA--(Marketwire - November 08, 2011) - AmbiCom Holdings, Inc. (OTCQB: ABHI), a leading designer and developer of wireless products for the medical industry, announced today that it has signed an investment agreement for up to $1 million with Kodiak Capital Group, LLC, a Newport Beach, CA institutional investor.
"We are pleased to have partnered with Kodiak due to the successes that they have had with growing other companies by infusing their experience along with their capital. We anticipate they will help us as well by funding our business on favorable terms which we believe will benefit all of our shareholders," said John Hwang, Chairman and CEO of AmbiCom. "The financing provides AmbiCom with a solid cushion as we expand our presence in the healthcare IT market; particularly as it relates to medical wireless monitoring solutions and products, is one in which we anticipate growth and are poised to capitalize on the opportunities that are present."
Barry Chung, Director of Research for Kodiak, stated, "Undervalued companies worldwide are in need of capital during the extensive credit tightening we've seen globally. Kodiak is very pleased to be working with AmbiCom and we look forward to providing them the capital to execute on their rollout of projects in the coming months."
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About AmbiCom Holdings, Inc.
AmbiCom is headquartered in Milpitas, 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 to 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. For more information, visit www.ambicom.com
About Kodiak Capital Group, LLC
Kodiak is an institutional investor headquartered in Newport Beach, CA. Kodiak's experienced professionals manage a portfolio of investments in public and private entities. These investments are in a wide range of companies and industries emphasizing life sciences, energy and technology. Kodiak's investments range from multiyear financial commitments to fund growth to special situation financings to long-term strategic capital offering companies certainty, flexibility and consistency. For more information, visit www.kodiak-capital.com
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 these forward-looking statements including, but not limited to, our ability to maintain our website and associated computer systems, our ability generate sufficient market acceptance for our shipping products and services, our inability 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 the our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation 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.