Checking the last 10Q- August 16; no warrant info that i can see, here's the only mention of cmgi and it pertains to buyingedge only
10kwizard.com
On August 12, 1999, the Company signed a Senior Subordinated Convertible
Promissory Note and Warrant Purchase Agreement (the "Agreement") with Wand
Equity Portfolio Fund II L.P. and Wand Affiliates Fund L.P. (collectively
"Wand"). Pursuant to the terms of the Agreement, Wand purchased from the Company
a 9% Senior Subordinated Convertible Promissory Note (the "Note") in the
principal face amount of $5,000,000 due April 30, 2000. The Company currently
expects to finalize a secured credit facility in the third quarter of 1999. See
"Part I, Note 7 -Subsequent Events."
The Company anticipates that its current cash and cash equivalents, together
with cash provided by operations, the proceeds of the $5,000,000 Note issued to
Wand, and borrowings under a credit facility or equity investment will be
sufficient to meet the Company's projected working capital and other cash
requirements, but there can be no assurance that the Company will be able to
generate sufficient cash to meet its requirements from those sources. The
Company's future operating and capital requirements will depend on numerous
factors including the collection of accounts receivable, the internal research
and development programs, advances in technology, and the strategic alliances or
investments that the Company may consider. In the event that the Company were
unable to meet its needs for cash from the sources described above, the Company
would need to obtain equity or debt financing or reduce its operating expenses
and capital expenditures. There can be no assurance that equity or debt
financing would be available to the Company on favorable terms or at all.
In addition, on August 12, 1999, IMA's wholly-owned subsidiary,
buyingedge.com inc. entered into a Series A Preferred Stock Purchase Agreement
("buyingedge Agreement") with CMG@Ventures III, LLC, @Ventures III, L.P.,
@Ventures Investors, @Ventures Foreign Fund III, L.P., Wand Equity Portfolio
Fund II L.P. and Wand Affiliates Fund L.P. (collectively the "Investors"), to
purchase 5,319,149 shares of buyingedge's Series A Preferred Stock for an
aggregate purchase price of $10,000,000. Pursuant to agreements with the
Investors, the amount invested in buyingedge.com will not be available to IMA
except pursuant to
15
certain services agreements between IMA and buyingedge.com. |
