RMI.NET Chairman and CEO Douglas H. Hanson Invests Additional $7.5 Million in Company
(http://biz.yahoo.com/prnews/990817/co_rmii_in_1.html)
Tuesday August 17, 8:04 am Eastern Time
From the article: "...RMI.NET, Inc. announced today that Douglas H. Hanson, chairman and chief executive officer, has invested an additional $7.5 million in the company.
As previously reported, RMI.NET, then known as Rocky Mountain Internet, Inc., entered into a warrant agreement in October 1997 with Hanson as part of his original investment in the company. The warrant agreement provided Hanson the opportunity to purchase four million shares of RMI.NET common stock. Under terms of the original agreement, Hanson was required to exercise the warrants prior to September 1999.
``I firmly believe that RMI.NET's organic expansion and active acquisition program over the past 18 months have positioned the company for continued success, and it is my desire to further invest in what I believe is one of the industry's premier commerce solutions providers,' Hanson said. ``We are positioned for continued revenue growth and for the successful execution of our business strategy.'
Since June 1998, RMI.NET has acquired 16 companies for a total of $30 million. These companies have an annualized revenue run rate of $25 million. The company also has successfully expanded its e-SELL© e-commerce solutions package; its proprietary portal site and search engine, Infohighway; and its Simplified Domains registration program...."
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Our chairman has faith in the growth opportunities of this company by investing his own cash...$7.5 million.
EKS |
