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Visual Management Systems, Inc.: Visual Management Systems Announces the Successful Closing of a Private Placement of Equity

^{Published on 2009-06-30 12:31:08, Last Modified on 2009-06-30 12:31:56 - Market Wire}
 

TOMS RIVER, NJ--(Marketwire - June 30, 2009) - Visual Management Systems, Inc. (OTCBB: [ VMSY ]), a leading developer, manufacturer and provider of video surveillance technologies, has completed a private placement of equity that yielded $457,236 to the company after associated fees. The company placed five hundred shares of it Series B Convertible Preferred Stock with existing shareholders.

The private placement was subscribed by approximately eighty-five individual shareholders of the company's common stock. Additionally, all members of the company's board of directors subscribed, as well as all members of the company's senior management and several employees of VMSY subsidiaries, VMS, LLC and iPDG, LLC. Directors, management and insiders subscribed for $185,000 of the $500,000 offering.

The company has deployed the majority of capital for accounting, auditing, legal and other professional services. Additional uses of the proceeds included sales and marketing initiatives as well as servicing vendors.

The company's CEO, Jason Gonzalez, said, "I am grateful that our shareholder base showed its support and chose to stay the course. I am also proud of management and the Board of Directors for doing their part." He continued, "We have been working very hard to make the company run more efficiently and we are turning things around during some of the most challenging economic times the country has ever faced. I believe the placement of equity in the current environment is a testament to the conviction that our beneficial shareholders have in seeing our plan through execution."

About Visual Management Systems

Visual Management Systems, Inc. (OTCBB: [ VMSY ]) ('VMS') provides video surveillance solutions to small and mid-size enterprises. VMS's products and services help businesses, government agencies and educational institutions prevent crime, ensure safety, enhance productivity and improve service. Since its inception, VMS has been committed to developing and implementing industry-leading video security technology at affordable price points. For more information, visit [ www.vmscctv.com ] or call 877-323-CCTV.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Certain statements in this press release constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements express or implied by such forward-looking statements. The forward-looking statements are subject to risks and uncertainties including, without limitation, changes in levels of competition, possible loss of customers, the company's ability to attract and retain key personnel, the company's ability to raise capital, the continued cooperation of creditors and vendors, national and local economic conditions, the ability of the company to reach agreements with the proposed distributor, joint venture and integration partners discussed in this release, conditions and trends in the video surveillance and security industries in general, the ability of the company to attract enterprise-scale customers, changes in interest rates, commercial acceptance of the company's products, the effect of government regulation on the company's operations and other factors described from time to time in the company's filings with the Securities and Exchange Commission.