COPsync (COYN) shares gained at the open after the company said it is seeking non-toxic financing to underpin growth and pay for acquisitions, adding it’s in talks with several potential targets.
The company said on Thursday that it may soon reveal one or more potential takeovers. It said that it also adopted a new sales strategy to increase the market for its flagship security communications product.
“We are confident that we will be able to secure non-toxic financing to support our plan to grow sales and acquire complementary strategic businesses,” Ronald A. Woessner, the company’s chief executive said. “Discussions with potential acquisition companies are on-going, and we anticipate announcing one or more letters of intent soon.”
The new sales strategy involves collaborating with law enforcement and school industry experts and influencers, both in government and the private industry, whose assistance is expected to shorten the sales cycle decrease from years to several months, it said.