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Marketing Worldwide Raises $3.5 Million
From Institutional Investors to Accelerate Growth Plan
HOWELL, MI--(MARKET
WIRE)--Apr 26, 2007 -- Marketing Worldwide Corporation (MWW)
(OTC BB:MWWC.OB - News), a leader in car customization programs
for major auto manufacturers, today announced it closed an institutional
round of private funding from Vision Opportunity Capital Management,
LLC, an SEC registered investment advisor. The financing of $3.5
million will support the acceleration of MWW's business growth.
MWW is a high quality full-service OEM supplier for the automotive
industry, with some of their largest customers currently being several
Toyota and KIA vehicle processing centers in the US and Canada.
The investment is in the form of Series "A"
Convertible Preferred Stock and warrants. The full terms and conditions
will be disclosed in a Current Report on Form 8-K as soon as practicable.
The placement agency is New York City-based Carter Securities, LLC.
Michael Winzkowski, President, MWW, said,
"Our rapid growth and aggressive expansion plans call for the
right financial partner. We truly believe Vision Capital Management
is the ideal partner. Its principals took an in-depth look into
the Company and came away with the same long-term vision that we
instill into everyone who is part of our team. While we have continued
our track record of five years of increasing sales and profitability,
we have also expanded our management team and product roster and
have begun to aggressively pursue new customers in addition to our
established relationships with several large Toyota vehicle processing
centers during 2006."
"We are excited to help Marketing Worldwide
continue along its successful growth path. The Company's exceptional
management team, strategy and reputation for quality are clearly
its drivers in creating long-term value. We look forward to seeing
the Company make further strides in the OE automotive industry in
addition to achieving its sales and profit goals," said Pat
Vongsvivut of Vision Opportunity Capital Management, LLC.
About Vision Opportunity
Capital Management
Founded in 2005, New York-based Vision Opportunity Capital Management,
LLC is an SEC registered investment advisor focused on direct, non-control
investments in small private and public companies.
About Marketing Worldwide Corporation
Founded in 1999, MWW is a high quality, full-service OEM supplier
for the automotive industry. MWW designs, develops and manufactures
high quality (OE-grade) automotive accessory components for high-volume
sales directly to the major automobile processing centers at their
US entry ports and in Canada, for installation as either Port Installed
Options (PIO) or Dealer Installed Options (DIO) programs. The majority
of MWW’s products are currently being designed and manufactured
by MWW for Toyota and KIA passenger cars, SUVs and light trucks. MWW’s
corporate headquarters is in Howell, Michigan with support teams and
satellite offices operating from different parts of the US and Germany.
Please visit www.marketingworldwide.us (under construction) to see
the latest company news and filings and subscribe to the MWW newsletter,
or e-mail your questions to investorrelations@marketingworldwide.us.
Certain statements in this press release that
are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements may be identified by the use words such as
"anticipate," "believe," "expect," "future,"
"may," "will," "would," "should,"
"plan," "projected," "intend," and similar
expressions. Such forward-looking statements, involve known and unknown
risks, uncertainties and other factors that may cause the actual results,
performance or achievements to be materially different from those
expressed or implied by such forward-looking statements. The Company's
future operating results are dependent upon many factors, including
but not limited to the Company's ability to: (i) obtain sufficient
capital or a strategic business arrangement to fund its expansion
plans; (ii) build the management and human resources and infrastructure
necessary to support the growth of its business; (iii) competitive
factors and developments beyond the Company's control; and (iv) other
risk factors discussed in the Company's periodic filings with the
Securities and Exchange Commission, which are available for review
at www.sec.gov under "Search for Company Filings."
Pursuant to a September 15, 2006 agreement, Consulting For Strategic
Growth1, Ltd. (“CFSG1”) provides Marketing Worldwide Corporation
with consulting, business advisory, investor relations, public relations
and corporate development services. Independent of CFSG1’s receipt
of cash compensation from MWW, CFSG1 may choose to purchase the company’s
common stock and thereafter liquidate those securities at any time
it deems appropriate to do so
.
COMPANY CONTACT:
Rainer Poertner
Executive Vice President
Tel: 1-517-540-0045, x43
Fax: 1-517-540-0923
rpoertner@marketingworldwide.us
www.marketingworldwide.us |
INVESTOR RELATIONS:
Stanley Wunderlich, CEO
Consulting for Strategic Growth 1
Tel: 1-800-625-2236
Fax: 1-212-337-8089
info@cfsg1.com
www.cfsg1.com |
MEDIA RELATIONS
Daniel Stepanek
CFSG1
Tel: 1-212-896-1202
Fax: 1-212-697-0910
dstepanek@cfsg1.com |
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