Telkonet Announces Amended Line of Credit with Heritage Bank

New maturity date is testament to achieving strategic growth initiatives, continued success in key commercial markets

MILWAUKEE, WI / ACCESSWIRE / February 23, 2016 / Telkonet, Inc., (OTCQB: TKOI) creator of the EcoSmart platform of intelligent room automation solutions supporting the emerging Internet of Things (IoT), announced today a refinanced line of credit with Heritage Bank of Commerce (NASDAQ: HTBK) and revised maturity date of Sept. 30, 2018.

The amended line of credit reflects the organization’s steadfast commitment to achieving its planned strategic growth initiatives and continued improvement against key performance milestones.

“This partnership provides Telkonet the ability to strengthen our commitment to improve the industries we serve,” said Jason Tienor, CEO of Telkonet. “This financial flexibility allows us to develop cutting-edge technology and grow our company at an accelerated pace.”

“Telkonet’s unique business approach is a key driver to continued growth and innovation within the organization,” said Mike Hansen, Senior Vice President and Manager of the Corporate Finance Group. “We look forward to helping this organization continue to grow and succeed into the future.”

For additional information, please visit www.telkonet.com or follow @Telkonet on Twitter.

To refer to the Company’s 8-K and corporate filings, visit the Investor Relations section via www.telkonet.com or the SEC web site, www.sec.gov. Subscribe to e-mail alerts, here.

ABOUT TELKONET

Telkonet is a leading provider of intelligent automation solutions throughout commercial markets worldwide. The Internet of Things (IoT), offer considerable energy cost reductions, staff productivity enhancements and carbon footprint reductions through intelligent networked communications, improved asset utilization and data analytics. IoT platforms like Telkonet’s EcoSmart enable users to achieve savings, value and service through networked connectivity providing monitoring, control, analytics, convenience and the ability to participate with the emerging Smart Grid through automated demand response initiatives. Telkonet serves vertical markets that have established the company as a leading networking, efficiency and energy management technology provider. Those markets consist of Hospitality, Education, Military, Government, Healthcare and Public Housing. Telkonet’s business divisions include EcoSmart, a networked automation platform featuring Recovery time technology offering cost savings, energy reductions, optimized asset utilization and improved comfort, and EthoStream®, one of the largest hospitality High- Speed Internet Access networks in the world providing public Internet access to more than 8 million monthly users.

For more information, visit www.telkonet.com.
For news updates as they happen, follow @Telkonet on Twitter.
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Forward-Looking Statements

Statements included in this release may constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company’s ability to obtain new contracts and accurately estimate net revenue due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company’s financial results, can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 and in its Reports on Forms 8-K filed with the Securities and Exchange Commission (SEC).

MEDIA CONTACTS:

Telkonet Investor Relations
414.721.7988
ir@telkonet.com

SOURCE: Telkonet, Inc.

ReleaseID: 437067