|
WeatherWise USA Announces Completion of Recapitalization
Company Poised to Double Revenues and Introduce Innovations
Pittsburgh, PA, USA (January 27, 2005) - WeatherWise USA, Inc. announces the completion of its 15 month
recapitalization. According to Board member and investor, Andrew Senchak of Keefe, Bruyette, & Woods, "This recapitalization solidifies
the company’s balance sheet and gives it the flexibility to respond to new opportunities. The company is profitable with positive cash
flows." WeatherWise CEO Rand Warsaw adds "We are delighted to have business booked through 2008 and expect to increase our revenues
significantly in the next two years."
WeatherWise USA plans to continue growing its customer base for the electric and gas fixed bill products that are
based on proprietary computer modeling. The strengthened balance sheet also enables the company to leverage its skills in applying risk
management and financial engineering to new energy services and products. "This turnaround positions us to build on our core strengths in
fixed bill product services for utility markets and to provide unparalleled innovative services to new and existing markets," Vijay Parmar,
VP of Financial Technology, explains. WeatherWise expects to offer new products in weather market technology, utility financial management
and electric and gas hedging markets and is poised to commercialize techniques previously developed for in-house use, such as a specialized
computer language for database interrogation.
Contact:
Joyce Homiak
Phone: 888-373-9473 ext 4026
412-320-4026
Fax: 412-320-4050
|
|
