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

From: InfoSec News (isnat_private)
Date: Mon Apr 01 2002 - 00:05:07 PST

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    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 irat_private
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