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Message: Line of Credit Corrected in PTSC Form 8-K Dated April 14

Line of Credit Corrected in PTSC Form 8-K Dated April 14

posted on Apr 17, 2009 05:33AM

In March, Patriot entered into a revolving line of credit facility for $500,000 with Avot secured by its IP assets. This line of credit provides Avot the necessary capital to continue to execute additional mobile carrier and content delivery provider trials while revenue streams from existing commercial agreements begin to ramp up. An additional investment of external venture capital targeted at $8 million is anticipated to fully capitalize the company to expand marketing, sales, and technical support resource. Additionally, Crossflo has begun to explore the possibility of integrating Avot's mobile technology into its emergency services solution, supporting the delivery of high quality video to handsets in the field.

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