Detto
Completes Growth Financing
Sale
of Common Stock Provides Fuel for Growth
Bellevue,
Washington August 15, 2005 - Detto
Technologies (OTCBB: DTTO) today announced
it has completed a round of financing
in which it has raised gross proceeds
of $1,500,000 through the sale of common
stock since May 2005, capped by a $1,000,000
investment last week by an investment
holding company managed by a Geneva-based
investment firm.
"The
proceeds from this funding allows us to
cut substantially the production costs
on our products and to more fully support
expanding initiatives with our channel
partners, particularly the major PC manufacturers.
This allows us to accelerate our revenue
growth and maximize profitability at the
same time," said Detto CEO, Larry
Mana'o. "The investment firm that
provided the bulk of this round of financing
has a strong European presence and professional
network that represent tremendous potential
value in helping us grow our company,
particularly with overseas distribution."
Detto's
products currently are available in six
different languages. Despite the company's
historical focus on the North American
market of 40 million replacement PCs purchased
every year, broader international distribution
is a stated goal that addresses the 80
million+ replacement PCs purchased worldwide
(outside of North America) each year.
Securing a major international financial
partner such as has participated in this
round will allow the company to accelerate
its pursuit of this large opportunity.
About
Detto Technologies
Detto Technologies, the leading provider
of migration technology for consumer and
corporations, utilizes its advanced technology
to enable the transfer of data, files,
preferences, and personal settings - the
profile or "personality" of
a computer user - from an old computer
to a new one. IntelliMover®,
Detto Technologies' flagship product,
provides for the intelligent transfer
and integration of settings, preferences
and files quickly, simply and cost-effectively.
Detto markets its products primarily through
OEM's like Dell, HP-Compaq, Gateway and
Apple, as well as through most major retail
outlets through a third-party vendor.
Corporate headquarters is in Bellevue,
Washington. More information can be found
at www.detto.com
Forward
Looking Statements
This press release contains "forward-looking
statements" within the meaning of
the Private Securities Litigation Reform
Act of 1995. These forward-looking statements
may include statements relating to Detto's
anticipated financial performance, business
prospects, new developments and similar
matters, and/or statements preceded by,
followed by or that include the words
"believes," "could,"
"expects," "anticipates,"
"estimates," "intends,"
"plans," or similar expressions.
These forward-looking statements are based
on management's current expectations and
assumptions, which are inherently subject
to uncertainties, risks and changes in
circumstances that are difficult to predict.
Actual
results may differ materially from those
suggested by the forward-looking statements
due to a variety of factors, including
changes in business, political, and economic
conditions due to the threat of future
terrorist activity or otherwise, actions
and initiatives by current and potential
competitors, and certain other additional
factors described in Detto's filings with
the Securities and Exchange Commission.
Other unknown or unpredictable factors
also could have material adverse effects
on Detto's future results, performance
or achievements. In light of these risks,
uncertainties, assumptions and factors,
the forward-looking events discussed in
this press release may not occur. You
are cautioned not to place undue reliance
on these forward-looking statements, which
speak only as of the date stated, or if
no date is stated, as of the date of this
press release.
Detto
is not under any obligation and does not
intend to make publicly available any
update or other revisions to any of the
forward-looking statements contained in
this press release to reflect circumstances
existing after the date of this press
release or to reflect the occurrence of
future events even if experience or future
events make it clear that any expected
results expressed or implied by those
forward-looking statements will not be
realized.
Press
contact:
Valerie Chan: 206-352-8814
Investor
Relation contact:
Bill Glynn: 425-201-5006
Investor
awareness:
Tony Schor: 847-945-2222
