ACE*COMM (ACEC) Updates Proposed $4.2 Million Financing

May 31, 2007 9:09 AM EDT

ACE*COMM Corporation (NASDAQ: ACEC) announced that negotiations on its proposed $4.2 million convertible debt financing are proceeding and that it expects to sign a contract in the next several days.

The financing, originally announced in the Company's May 15, 2007 third-quarter-2007 earnings announcement, will provide ACE*COMM with working capital to continue successfully penetrating the wireless market with its Patrol Suite product line.


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