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Wave Dispersion Technologies Secures $750,000 in Private Equity To Advance Maritime Port Security Buoys and Barriers
SYLVAN LAKE, MI - November 8, 2004 - Wave Dispersion Technologies, Inc. (WDT), a private maritime technology company, is pleased to announce it has recently secured its first round of private equity funding. The Company has raised $750,000 to advance its patented floating breakwater technology and its line of Maritime Intrusion and Exclusion Barriers and warning buoys for Homeland Security and Force Protection. Naval defense and security applications for WhisprWave® include port security barriers and force protection, physical deterrence and incursion prevention. Current customers and contracts feature the US Navy, US Army, US Coast Guard, US Army Corps of Engineers, the US Department of the Interior, and the States of Washington & Louisiana. CEO Dennis Smith says "We are very pleased to close on our first round of funding raised outside of our family and close associates. Our current positioning in the market with a unique product, the contracts we have closed in the past year, and the pipeline of significant new business coming in 2005, have combined to make us an exciting prospect for sophisticated investors." The terms of the private funding, provided by a NYC based investment group, included a fixed interest rate note which is convertible through warrants into equity in the Company. The group has committed up to an additional $3,000,000 in funds to finance the growth of the Company's technology based on received, pending and potential orders in the pipeline. The Company currently holds 7 domestic and international patents for the WhisprWave®'s unique design and utility, with an additional 20 patents pending. The WhisprWave® is specifically designed in a modular format to maximize the product's flexibility and strength for maritime applications. Maritime Port Security Buoys and Barriers: To facilitate the security
needs of military and other government agencies and commercial interests
globally, the company has developed the WhisprWave® Technology
line of Maritime Intrusion and Exclusion Barriers and Warning Buoys
for Homeland Security and Force Protection. The unique characteristics
of the WhisprWave® Homeland Defense Products include mobility,
marine grade design and commercial off-the-shelf availability for
Homeland Security, maritime zone demarcation, and port and base security
applications. The Global Leader in Maritime Homeland Port Security Barrier & Buoy Protection Systems Wave Dispersion Technologies, Inc. (WDT) has developed the patented WhisprWave® floating articulated breakwater technology to afford erosion control protection to shoreline beaches, coastal marinas, anchorages, and other areas subject to destructive erosion wave / wake forces. The WhisprWave® is currently installed, being demonstrated or being reviewed by several agencies (US Army Corp of Engineers "USACE", US Navy "USN", US Coast Guard "USCG", US Army "USA", several state agencies and foreign nations) for applications that range from Homeland Security / Force Protection to Beach Erosion Protection to Marina Wave & Wake Protection. Maritime Port Security Buoys and Barriers: To facilitate the security needs of the US Navy, US Coast Guard, US Army, other government agencies and commercial interests, the company has developed the WhisprWave® Technology line of Maritime Intrusion and Exclusion Barriers and Warning Buoys for Homeland Security and Force Protection. The unique characteristics of the WhisprWave® Homeland Defense Products include mobility, marine grade design and off-the-shelf availability for Homeland Security maritime zone demarcation applications, (a requirement recently mandated by the USCG for all nuclear power plants post 9/11). Wave Dispersion Technologies (WDT) is a featured company at http://www.homelanddefensestocks.com Contact: Jonathan B. Smith
ECON Investor Relations, Inc. For full details, click here: |
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Brochure
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Phone 908.233.7503 | Fax 908.233.7507 | E-Mail whisprwave@aol.com
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