3/28/2003 - Vertel Corporation (OTCBB:VRTL), a leading provider of convergent network mediation and management solutions, announces the completion of funding of gross proceeds to Vertel of $500,000 due to the sale of six-month term senior secured non-convertible bridge notes.
"The proceeds will assist us in smoothing out our cash flow timing cycles as we continue to execute on our 2003 operating plan," said Marc Maassen, Vertel's CEO and President.
Vertel is a leading provider of Network Mediation and Management solutions. Since 1995, Vertel has provided solutions to over 300 companies, including telecom infrastructure vendors, operators and service providers such as Alcatel, AT&T, BT, Cingular, Deutsche Telekom, Lucent, Motorola, Nokia, Nortel, NTT, Samsung, Siemens, Verizon and WilTel.
Vertel's in-depth knowledge and commitment to industry standards, combined with experience of working with many different equipment types, allows the creation of high performance solutions that enable customers to quickly overcome technological barriers.
For more information on Vertel or its products, contact Vertel at 21300 Victory Boulevard, Suite 700, Woodland Hills, California 91367; telephone: 818/227-1400; fax: 818/598-0047 or visit www.vertel.com
Vertel and M*Ware are trademarks of Vertel Corporation
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