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OptiCon Board Provides Clarity on Valuation Reference

^{Published on 2009-12-07 18:11:34 - Market Wire}
 

ST. PETERSBURG, FL--(Marketwire - December 7, 2009) - OptiCon Systems, Inc. (OTCBB: [ OPCN ]) today is releasing clarification as to a Valuation reference in its November 16, 2009 press release. The Board of Directors has determined that the valuation rendered by Valuation Research Corporation (VRC), as of March 31, 2006, will not be used by the Company for any external purposes. OptiCon will only use the valuation for internal purposes, and will have an updated valuation of its business accomplished in the near term. The March 31, 2006 valuation by VRC should not be relied upon as a current value of one of our products, the Opticon Network Manager.

Recently, in a release regarding a valuation contained in a past SEC filing, the Board of Directors announced that it had made the determination that given the advances in the company's product development and the establishment of a global distribution channel, an update was not required at the time. However, the reference to the March 31, 2006 valuation in the November 16, 2009 press release was made without VRC's prior knowledge or consent.

According to Paul J. Aiello, CEO of OptiCon Systems, Inc., "The valuation was to be used as a baseline when reviewing internal metrics and should not be relied on for any other purpose."

About OptiCon Systems

OptiCon Systems, Inc., through its subsidiary, provides Wireline, Wireless and fiber optics network management solutions offering proprietary state-of-the-art software, professional services and integrated systems. OptiCon Systems have been in use by companies seeking the best solution in managing their networks for the past 10 years. The company's software solutions automate all aspects of the physical and logical layer management, fault detection and delivery of information. The scalability of the software systems permits the Company to target large communications and telecom companies servicing millions of global customers to medium-sized companies managing a single facility. Besides OptiCon Network Manager (ONMS), the company will soon offer PowerCon Energy Systems (PES) that is designed to manage large power networks and facilities for power and alternative energy companies globally. The PES/ONMS isolates (power/fiber) cable cuts, breaks, and faults, and service degradation and other power and optical events to within plus or minus five feet of the event, and produces a global positioning system location for the outage to an approximate five foot section of cable. For more information, please visit [ www.opticonsystemsinc.com ].

Forward-Looking Statements

This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.