Here's the confirmation of Fountain's new funding (found in the recent SEC filing):
Subsequent to the quarter ended June 30, 1997, the Company completed a private placement on July 17, 1997, of 2,000,000 shares of Series A Convertible Preferred Stock to Fountain Holdings, LLC, an investment group managed by Eaglestone Capital Services, Inc. As a result of this placement, the Company obtained additional working capital of $2,500,000, which will enhance the expansion of the Company's sales and marketing program, as well as to further the Company's research and development efforts.
Best wishes,
Peter |
