TEMPE, Ariz.—(BUSINESS WIRE)—Jan. 5, 2005—Time America Inc. (OTCBB: TMAM - News), a leading developer and marketer of time and labor management solutions, announced today that it has retained the services of Katalyst Securities, a Philadelphia-based investment banking firm.
The engagement covers a broad range of strategic financial services including conducting a search for potential funding sources and to assist in acquisitions that may be made by the company. In addition, Katalyst will assist the company in developing and implementing a plan for improving the liquidity and value of the company.
Katalyst Securities is a wholly owned subsidiary of Katalyst LLC, a private investment and advisory firm focused on technology and life sciences companies. The firm operates as a valued partner to management teams and professional investors who are seeking to build successful and sustainable commercial enterprises. Since its founding in 1999, Katalyst has advised more than 100 technology companies, both public and private, in the United States, Europe, Asia and Israel.
“I am pleased to announce this relationship and look forward to the opportunity to work with Katalyst Securities in the development and execution of certain strategic initiatives,” stated Thomas Bednarik, president and CEO of Time America.
Commenting on the relationship, Joel Strauch, managing director of Katalyst Securities, said, “Time America has a strong customer base, leading solutions and a sound business model—which makes it well situated to capitalize on market opportunities in the workforce management industry. We look forward to working closely with Time America's management team to implement strategic initiatives that will further develop the future growth of the company.”
About Katalyst LLC
Katalyst LLC is a private investment and advisory firm focused on technology and life sciences companies. Katalyst LLC provides investment banking services, including the private placement of equity and mergers and acquisition advice, through its wholly owned subsidiary Katalyst Securities. Katalyst is headquartered in Philadelphia and has advised more than 100 private and public companies in the United States and Europe. More information about Katalyst and its products and services can be found at www.katalyst.com.
About Time America
Time America Inc. has been providing innovative time and labor management solutions for more than 17 years. By leveraging innovative technology, our family of software and hardware solutions helps organizations track and transform basic labor data into strategic information that improves workforce productivity and the utilization of labor resources. Time America solutions are used by more than 20,000 companies worldwide including ARAMARK Corp., the University of Southern California, Thrifty Rental Car, the Texas Legislative Council and the Mesa Air Group. For more information, please visit the Time America Web site at www.timeamerica.com.
Forward-Looking Statements
Certain information and comments contained in this press release may be forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Factors set forth in the company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2004, and subsequently filed form 10-QSBs, together with other factors that appear in this press release or in the company's other Securities and Exchange Commission filings could affect the company's actual results and could cause the company's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of the company, in this press release. No assurance can be given that the company will consummate a transaction as a result of its engagement of Katalyst or that any transaction that becomes available to the company will be on acceptable terms.
Contact:
Time America Inc.
Craig Smith, 800-561-6366, ext. 442
corrinek@timeamerica.com
