As our press release, posted below, notes, BCB hopes to receive (pending ASE approval) a small capital infusion which, for the most part, will help us get product out the door. In fact, our financial condition is improving, not deteriorating, thanks to increasingly strong sales. March revenues for BCB were well over $400,000, at least equaling and probably surpassing our entire first quarter revenues. April looks equally strong. Our current sales pipeline (which includes confirmed orders totalling $967,571, deals under final negotiation totalling $564,314 and near-term sales prospects totalling $774,230) has never looked better. One of our biggest challenges at the moment is converting these orders and prospects into sales by improving our production capabilities and efficiencies. This infusion of working capital will help us do that so we can sustain our momentum.
BCB ANNOUNCES PRIVATE PLACEMENT
April 3, 1998 - MARKHAM, ONTARIO - BCB Holdings Inc. announced today it has agreed, subject to documentation, to a private placement with one investor of 600,000 common shares at $0.25 per share for total proceeds of $150,000. The proceeds of this issue are to be used for short-term working capital purposes.
The issuance price of $0.25 per share was based on the closing price on theAlberta Stock Exchange on Thursday, April 2, 1998.
The transaction is on an arms length basis and is subject to regulatory
approval.
BCB Holdings Inc. owns and operates BCB Technology Group, a developer of innovative systems and services in computer-based voice processing markets, and Granville Research Inc., which designs and implements Internet-based networks. BCB means Better Communication in Business.
The Alberta Stock Exchange has neither approved nor disapproved the information provided herein. |
