PacketStormSecurity Announces New Corporate Alliances; Will Raise $25M in Angel/VC Funding

[InfoSec News <isn () c4i org>]

PacketStormSecurity Announces New Corporate Alliances; Will Raise $25M in Angel/VC Funding

April 1st, 2002
by Michael Coldsmith Briggs 
 
BRISTOL, UK - An announcement was made early this morning via the
major wire services that the Internet's premiere information security
resource, PacketStorm (http://www.packetstormsecurity.org) would be
eschewing the general trend in the market and amidst fears of imminent
bankruptcy due to operational losses and raise an additional $25M USD
through a combination of angel investment and venture capital funding.

As part of this plan, new corporate alliances were also announced
this morning at a separate press conference in order to demonstrate
PacketStorm's vitality in the marketplace and show it's commitment
as one of the only remaining sites for unbiased security information
on the Internet.  PacketStorm is currently reviewing partnership
proposals from representives of organizations in Provo, Cupertino,
and Redmond.

It has been assumed by industry analysts that the capital raised
will go to offsetting PacketStorm's considerable operational
expenses.  Emerson Tan, managing director of the group talked a
little about strategy "Right, well, really we're just going to cover
the necessary costs.  

We're taking some cues from the big boys like Enron and Global
Crossing and preparing contracts for bandwidth and service swaps to
cover our unapologetic grab for cash."  Other members of the
operations team spoke in more detail as to how the cash infusion would
be used.  Jay Dyson said "One thing's for sure: the coffee has got to
be better," & Christian Wright was quoted as saying... 
"I want a newer Gulfstream".

PacketStorm has also tapped a Big-Five accounting firm based in
Chicago IL. to oversee this round of financing.  Alan Bishoff stated
"Well in light of their recent headline grabbing engagements, we're
confident they will maintain the confidentiality and document
management discipline necessary to keep us all out of jail."

SEC-qualified investors interested in investing at least 100,000 USD
with PacketStorm are asked to contact their investor relations
department at ir () packetstormsecurity org




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