BSDS announcing funding with Cornell Capital
Trading at 1.07 4/22
BSD Software, Inc. (BSDS) announces signing of $10M financing with Cornell Capital Partners, LP
29 Apr 2003, 09:30am ET
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BOCA RATON, FL, April 29 /PRNewswire-FirstCall/ - BSD Software Inc. (OTCBB:BSDS) announced today the signing of Term Sheets with Cornell Capital Partners, LP for a commitment to acquire $500,000 of Convertible Securities and to purchase, at the company's discretion, up to $10,000,000 of common stock at a 5% discount over the course of 24 months, subject to an effective registration of the shares.
This financing does not require the addition of a board member, up-front fees or commissions. Additionally, there is no penalty if the company decides to not access any or all of the financing line and there is no volume or price matrix restricting the company's ability to utilize the line at a time of its choosing.
Consequently, the Company has withdrawn from and cancelled the $3.5 million funding commitments previously announced, on February 24th and March 18th, with two European based investment groups.
The new funding will give Triton additional working capital and the ability to support and accelerate the completion of its majority owned subsidiary, Triton Global Communication's recently announced International Operator Service Center platform.
The Company is pleased to have the opportunity to establish a solid relationship with a financing entity of Cornell's caliber and look forward to a long-term mutually beneficial association.
About Triton Global Communications Inc.
Triton is a leading provider of live and automated operator services, billing, clearinghouse and information management services to the telecommunications industry. For more information visit www.tritonglobal.ca |
