Harris & Harris Group, Inc. announced today that it has invested $417,706 as part of a placement of convertible preferred stock by privately held Experion Systems, Inc. (www.experionsystems.com). 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 system also provides a direct-to-customer self-service internet capability. The technology emulates the dialogue between a customer and a financial product expert, providing product selection advice on complex financial decisions. Experion Systems offers advisory solutions for a broad portfolio of loan and deposit products. Currently, all of Experion Systems' customers are credit unions.
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. Statements contained in this press release that are forward looking statements are intended to be made pursuant to the Safe Harbor Provisions for the Private Securities Litigation Reform Act of 1995. 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.