Document Security Systems (DMC) Announces Partnership with Fletcher Asset Management

QualityStocks would like to highlight Document Security Systems (NYSE AMEX: DMC), a technology company in the security and protection services sector. The company develops and manufactures products and packaging containing patented and patent pending optical deterrent technologies that help prevent counterfeiting and brand fraud, counteracting the use of the most advanced scanners, copiers, and imaging systems in the market.

In the company’s news yesterday,

Document Security Systems announced that on December 30, 2010, Fletcher Asset Management and its affiliates acquired $4.0 million of DMC’s common stock at $5.29 per share as part of an equity purchase agreement between the two firms.

Per the agreement, Fletcher has the right to make an additional equity investment of up to $4 million during the early part of 2011; certain warrants may be exercised for a certain number of years.

If exercised, the full potential share purchase, including warrants, if exercised in their entirety for cash, could total $16.0 million at prices ranging between approximately $4.76 and $7.62 per share.

Patrick White, CEO of DMC, said the capital will allow the company to pursue business partnerships and perform with overall growth.

“This funding provides us with the additional resources necessary to leverage our new strategic relationships, improve our working capital position, expand our sales and marketing presence, accelerate our digital product development, and continue pursuing the tremendous market opportunities that we have identified as part of our growing business model,” White stated in the press release.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.