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FOR IMMEDIATE RELEASE Tricorder Data Systems has achieved an investment match commitment from the Maryland Venture Fund. Baltimore, Maryland (July 29, 2011) Tricorder Data Systems (TDS) Inc. of Baltimore Maryland is an up and coming wireless edge solutions provider at the tail end of their pre-revenue stage. We are proud to announce that due to their success in lining up so many critical yet diverse projects and contracts in the Federal, State and the Commercial Sector, TDS has secured a 3:1 investment match commitment from the Maryland Venture Fund’s Enterprise Investment Fund, a program, within the Maryland Department of Business and Economic Development (MDBED). This program makes direct equity investments in emerging technology companies, usually at the first round of institutional financing and works with emerging companies to move them into their next stage of development. TDS is finishing its initial investment drive to raise up to $500,000 of common stock at a price of $5.52 a share. TDS has attracted angel and venture funding including individual certified investors and private angels and is now working with several interested full service financial firms and successful private investors to raise the rest of the needed capital. TDS money raising goals have been modest in the short term with a desire to raise additional initial seed capital. This will be followed by a larger investment round or $2,000,000 at a higher stock price in 12 to 24 months through Mezzanine financing or possibly through a Private Placement Memorandum (PPM). This secondary round of financing is intended to rapidly accelerate the value of the company in preparation for an exit strategy of either an IPO or an Acquisition in the 48 to 60 month timeframe. Industry and Government leaders have been turning to TDS to overcome technology barriers and enhance mobile capability while reducing IT costs. TDS’s ground breaking On-Demand Mobility middleware offers unparalleled operational performance:
### About TDS (www.tricorderdatasystems.com), TDS manufactures commercial off-the-shelf software products that are specially designed and adapted for secure mobile wireless systems that perform operations in real-time. Acting as an enabling architecture and framework, TDS On-Demand Mobility Middleware enables the construction of ground breaking, high performance, military grade software products in the areas of defense, homeland security, first responders, and remote systems automation and monitoring including:
These packaged commercial off-the-shelf (COTS) software products are distributed by our value-added reseller (VAR) network and integrating partnerships into the government and commercial mobile marketplace. TDS is a subsidiary of Waterfront Technologies (www.waterfronttech.com) a Baltimore City based, seasoned woman-owned and operated small business, whose clients include Federal, State and City governments as well as private industry. ### About the Maryland Venture Fund (www.choosemaryland.org) is a state-funded seed and early-stage equity fund that receives annual allocations from the Maryland State Legislature. The Fund makes direct investments in technology and life science companies and indirect investments in venture capital funds. Approximately 60 percent of the Fund is invested in technology companies in the areas of software, communications, and IT security, and 40 percent of the Fund is invested in life sciences companies in the areas of therapeutics, medical devices, and diagnostics. The Maryland Venture Fund is a business resource offered within the MDBED. ### |
