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Universal Communication Systems, Inc. (OTCBB:UCSY) - Wednesday's shares closed down 8.33% with a price of $0.0060. The volume was at 1,704,999. Universal Communication Systems, Inc. company chairman and CEO Michael J. Zwebner announced today that the company has concluded final agreements and completed the $2.5 million in financing in the form of convertible debt and warrants from a consortium of investors. The first tranche of the funding was concluded when the company received a total of $1.25 million of gross proceeds on February 28, 2006, and the second and final tranche of about $1.25 million of gross proceeds was delivered to the company on October 16th, 2006. The company will file a Form 8-K with the SEC containing more information regarding the transaction.
UCSY is a Global Holding Organization with several diverse operational subsidiaries. The company's broad range of activities include BroadBand Wireless Internet Provision (currently operational in Lima Peru), state of the art Water from Air production, on a world wide basis, exciting energy saving "solar industry", providing power and energy solutions and now expecting great things from our security division.
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