ISSS news.
.Integrated Spatial Information Solutions Reports The Conversion of Preferred Shares
GOLDEN, Colo., March 15 /PRNewswire/ -- Integrated Spatial Information Solutions, Inc. (OTC Bulletin Board: ISSS - news), a spatial information technology integrator, today confirmed that as of March 6, 2000, all convertible preferred stock issued through a $700,000 private placement has been converted into common shares of the company by participants in the offering. ISIS entered into the private placement on August 18, 1998. ``When the Company entered into the convertible preferred stock placement there was considerable concern from the shareholders about the potential for massive dilution and possible loss of control. With the conversion of these preferred shares completed, this potential obstacle to shareholder value is now behind us,' said Fred Beisser, Vice President - Finance & Administration.
The company's total number of shares outstanding stood at approximately 17 million following the conversion and recent investments by ISIS officers and directors.
About the Company
Integrated Spatial Information Solutions is an information technology company specializing in leveraging the spatial information assets of its clients to bring economies of operation and enhanced performance.
ISSS is a Colorado corporation. Its operating subsidiary PlanGraphics is based in Frankfort, Ky., and has regional offices in Colorado, Maryland, Florida, Rhode Island, California and Arizona.
The company's Web site is: www.isis.cc.
The forgoing contains forward-looking statements which are subject to contingencies and uncertainties. Such forward-looking statements are not guarantees of future performance, and are based on numerous assumptions about transactions or results which may differ materially from anticipated events, transactions or results described in such statements.
SOURCE: Integrated Spatial Information Solutions, Inc.
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