| Simtrol Adds Technology Chief to Team and Closes Additional Funding |
| Thursday, 02 October 2008 04:01 |
|
NORCROSS, GA – Simtrol, Inc. (OTCBB: SMRL), an innovative developer of enterprise-class software solutions that manage the extended network of connected devices, today announced the hiring of David Strickland as Chief Technology Officer. Mr. Strickland was previously Sr. Vice President of Development for Swingvote, Inc., a shareholder material communication company and electronic voting platform, and Director of Technology for Singlecast Technologies, a provider of compliance and supervisory technology to support Sarbanes-Oxley regulatory requirements. Mr. Strickland held previous management positions with Manhattan Associates (NASDAQ: MANH), a supply chain solutions provider, and M&M/Mars Snack Foods. “David is a significant addition to our leadership team,” said Oliver Cooper, Simtrol Chief Executive Officer. “His expertise in scaling technology organizations will be invaluable to Simtrol as we expand our ability to enable enterprises to more efficiently manage their extended networks.” The company also announced the closing of an additional financing for $1.4 million of private placement equity to accredited investors. The private placement consists of Series C preferred stock and warrants to purchase common stock and brings the total raised in the Company’s current offering to $4.1 million, including the conversion of the $1.5 million in convertible notes originated in January 2008. “We are pleased to have attracted additional capital during these challenging market conditions,” commented Oliver Cooper. “Investors have reacted positively to Simtrol’s business plan and market opportunities, and we will use these funds to further accelerate our sales, marketing, and operations efforts in key vertical markets.” About the Company Simtrol enables enterprises to manage an increasingly complex world. Simtrol’s flagship Device Manager™ software powers enterprise-wide solutions that manage, control, maintain, and diagnose non-traditional connected assets. For more information about Simtrol, please visit www.simtrol.com. This announcement may contain forward-looking statements pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements involve risks and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, development difficulties, foreign currency risks, costs of capital, continued certification by credit card associations, the ability to consummate and integrate acquisitions, and other risks detailed in the Company's SEC filings, including the most recently filed Form 10-Q or Form 10-K, as applicable. The Company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.Device Manager is a trademark of Simtrol, Inc. |

