COLORADO SPRINGS, Colo., July 15 /PRNewswire/ -- Accent Software International (OTC Bulletin Board: ACNTF, ACNUF) today announced that Gotham Bay Partners, LLC. has committed to the company $2 million in equity financing at $0.21 per share. In addition to the equity investment, Gotham Bay will play an active role developing strategic alliances for the company's Internet strategy. "We are pleased with the financing and the active role that Gotham Bay will take with Accent," stated Todd Oseth, president and CEO. "We have come a long way to turn around the company and our Internet product lines, LanguageWare and Loc@le 2.0, are starting to see good returns. It is clear that businesses are recognizing that taking full advantage of the Internet means business media and communications need to be in local languages." "Accent has had continuous improvement in the bottom line over the last four quarters," stated Bryan Johnson, chairman and CEO of Gotham Bay. "We are committed to the Internet strategy that has been started and want to help the company grow to be a dominate force in serving Internet customers with translated media." The terms of the agreement include a $2 million commitment to purchase common stock at $0.21 per share in three installments. The first installment for the purchase of $500,000 in common stock is expected to close today. The second and third equal installments are based on the development of a strategic partner by Gotham Bay and Accent. The shares will be locked up for 6 months after issuance. In addition, the company will propose the addition of two board seats to the Accent board of directors to be filled by representatives of Gotham Bay. Portions of this press release contain historical information and forward-looking statements. Statements looking forward in time are included pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks and the Company's actual results in future periods may be materially different from any future performance suggested herein. About Gotham Bay Partners LLC: Gotham Bay is a Denver-based private equity firm focused on financing emerging growth technology enterprises. For more information, please call 303-446-9252. About Accent Software International: Accent Software International, founded in 1988, is an Internet company that provides software products and services that help internationalize software and media in any language. Accent's current products and services are enabling the Internet with media that facilitate global communication. For additional information visit the company's Web sites at: http://www.accentsoft.com/ and http://www.LanguageWare.net.
SOURCE Accent Software International