Harris & Harris Group, Inc. notes that portfolio company, Experion Systems Inc. (www.experionsystems.com) announced today its 11th customer, Norlarco Credit Union, of Northern Colorado. Norlarco Credit Union has committed to Experion Systems' Loan and Deposit Account Advisor products. Harris & Harris Group was a seed investor in Experion Systems in January 2000 and now owns a fully diluted 12.45 percent interest in Experion Systems.
Experion Systems provides automated advice technology used by personnel of retail financial institutions to identify the best financial products for their customers. The technology emulates the dialogue between a customer and a financial product expert, providing product selection advice on complex financial decisions. Experion's application service provider (ASP) technology provides Experion with continuous revenue streams from its customers. Currently, all 11 of Experion's customers are credit unions.
Harris & Harris Group is a publicly traded venture capital company that now makes initial investments exclusively in tiny technology, including microsystems, microelectromechanical systems (MEMS) and nanotechnology. The Company's last 10 initial private equity investments have been in tiny-technology enabled companies.
Harris & Harris Group, Inc. is a Business Development Company with 11,498,845 common shares outstanding.
Detailed information about Harris & Harris Group, Inc. and its holdings can be found on its website at http://www.TinyTechVC.com.
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K and recent Prospectus filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group, Inc. undertakes no obligation to update or revise these forward-looking-statements to reflect new events or uncertainties.