EnterConnect, Inc. (ENCI.OB), a leading provider of ‘business-ready’ portals, announced that the company has entered into a Secured Convertible Notes and Warrants Purchase Agreement with certain investors. Under the terms of this agreement, the company was able to secure an additional $4,823,000 in capital and warrants.
Chief Executive Officer, Sam Jankovich, specified, “We are pleased to have both our new and existing investors as valued stakeholders investing in the growth of EnterConnect. Their financial support will enable us to expand our new software-as-a-service (SaaS) marketplace, SOAapps.com powered by the EnterConnect portal platform. SOAapps provides ISVs with unique access to dynamic application development and integration technologies from BEA Systems and EnterConnect as well as turn-key enablement services to host, deploy, manage, meter, bill, market and sell best-of-breed SaaS solutions.”
He continued, “With analysts predicting that half of all business software products will be delivered through SaaS deployments within five years, the new funding will provide the key resources for EnterConnect to succeed in the market as the leading global SaaS marketplace.”
EnterConnect has recently begun trading on the OTC Bulletin Board (OTCBB) exchange under the symbol ECNI. The OTCBB is a regulated quotation service that displays real-time quotes, last-sale prices and volume information in OTC fully reporting equity securities. The company’s lead market maker, pursuant to NASD Rule 6740 and Rule 15c2-11, is Park Financial Group.
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