21X Investments LLC Acquires Controlling Interest in Notify Technology Corporation


SAN JOSE, Calif., May 30 /-- Notify Technology Corporation (BULLETIN BOARD: NTFY) announced today that it was informed that 21X Investments LLC, an entity of which David Brewer, a director of the Company since February 2000, is the sole member and manager, has entered into a Securities Purchase Agreement with ComVest Venture Partners, L.P., Commonwealth Associates, L.P. and certain other shareholders of the Company on May 29, 2007. Mr. Brewer has advised the Company that as a result of this transaction 21X Investments LLC beneficially owns approximately 55.3% of the outstanding common stock of the Company.

"I have been an investor in Notify for several years and I am encouraged by its business prospects" said Mr. Brewer. "Based on its positive cash flow and continuing wireless product sales growth, I am looking forward to a successful investment in Notify by my company, 21X Investments LLC."

"We are very excited about David Brewer and his 21X Investment firm taking a majority stock interest in Notify's future business direction", said Paul DePond, President of Notify Technology. "At this time, I also want to thank Commonwealth Associates for their support over the past years."

Additional details regarding the transaction will be included in a Current Report on Form 8-K to be filed shortly by the Company.

About Notify Technology Corporation

Founded in 1994, Notify Technology Corporation, is an innovative software company developing mobility products for organizations of all sizes. Notify's wireless solutions provide secure synchronized email and PIM access and management to any size organization on a variety of wireless 2-way devices and networks. Notify sells its wireless products directly and through authorized resellers internationally. The company is headquartered in San Jose, California. For more information, visit www.notifycorp.com/ or contact 408-777-7920.

Source: Notify Technology Corporation

CONTACT: Jerry Rice, Chief Financial Officer of Notify Technology Corporation, +1-408-777-7927, jerry.rice@notifycorp.com

Web site: www.notifycorp.com/

All Topics