Expanded Credit Line Will Help the Company Meet Higher Consumer Demands for Home Networking Products in Existing and New Market Geographies
MANCHESTER, NH, Feb. 08, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Zoom Telephonics, Inc., doing business as Minim (OTCQB: MINM) ("Minim"), the creator of innovative internet access products, today announced that it has increased its maximum credit facility with Rosenthal & Rosenthal, Inc. to $5.0 million from $4.0 million. Existing terms and conditions of the financing agreement remain unchanged.
“We are pleased to acquire additional capital capacity to sustainably invest in driving Minim’s growth,” said Sean Doherty, CFO of Minim. “With increasing reliance on home internet and the rollout of Gigabit speeds, consumers are upgrading their connectivity solutions at a faster clip. As a result, Minim is seeing healthy demand for our cable and WiFi products across existing and new geographic markets. This expanded credit line will enable us to scale operations for higher production levels and faster new product introductions, ensuring that we continue to deliver the advanced and secure connectivity products that homes need.”
Minim delivers smart software-driven communication products under the globally-recognized Motorola® brand. The company’s cable modem, gateway, router, and MoCA systems can be found in retailers and e-commerce channels nationwide, including: Best Buy, Target, Walmart, Microcenter, and Amazon. The company’s connectivity hardware and software is also available for purchase via over 130 Internet Service Providers and technology distributor Telarus.
For more information about Minim, visit www.minim.com.
About Minim
Minim (OTCQB: MINM) is the creator of innovative internet access products that dependably connect people to the information they need and the people they love. Headquartered in Manchester, NH, the company delivers smart software-driven communications products under the globally recognized Motorola® brand. Minim end users benefit from a personalized and secure WiFi experience, leading to happy and safe homes where things just work. To learn more, visit www.minim.com.
MOTOROLA and the Stylized M Logo are trademarks or registered trademarks of Motorola Trademark Holdings, LLC and are used under license.
Forward-Looking Statements
This release contains forward-looking information relating to Minim’s plans, expectations, and intentions, including statements about the effects of the merger. Actual results may be materially different from expectations as a result of known and unknown risks, including: risks associated with Minim’s potential inability to realize intended benefits of the merger; the potential increase in tariffs on the company's imports; potential difficulties and supply interruptions from moving the manufacturing of most of the company’s products to Vietnam; potential changes in NAFTA; the potential need for additional funding which Minim may be unable to obtain; declining demand for certain of Minim’s products; delays, unanticipated costs, interruptions or other uncertainties associated with Minim’s production and shipping; Minim’s reliance on several key outsourcing partners; uncertainty of key customers’ plans and orders; risks relating to product certifications; Minim’s dependence on key employees; uncertainty of new product development, including certification and overall project delays, budget overruns, and the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; costs and senior management distractions due to patent related matters; and other risks set forth in Minim’s filings with the Securities and Exchange Commission. Minim cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Minim expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Minim’s expectations or any change in events, conditions or circumstance on which any such statement is based.
Investor Relations Contact:
Beth Kurth, Partner, Conway Communications
Phone: 617.584.9650
Email: bkurth@conwaycommsir.com