PCBM News
Eric
(PR NEWSWIRE) Pinnacle Business Management, Inc. Gets $5 Million Capital P
Pinnacle Business Management, Inc. Gets $5 Million Capital Package
CLEARWATER, Fla., June 17 /PRNewswire/ -- Pinnacle Business
Management, Inc. (OTC Bulletin Board: PCBM) (http://www.pcbm.com) announced
Thursday that they have received a Letter of Commitment from Primex Capital
Inc. of Houston, Texas. The terms call for a one million dollar cash infusion
and a first right of refusal option of four million dollars which expires at
the end of this year. Further terms of the investment were not disclosed at
this time.
The funds will be applied to several areas of PCBM, including support
services and infrastructure, in anticipation of greater than planned growth
seen for Third Quarter 1999.
"Pinnacle Business Management, Inc. continues on its way to becoming a
fully integrated provider of alternative consumer cash resources and major
provider of E-Commerce transaction services. We continue to gain momentum
daily," said Bruce Hall, President of Pinnacle Business Management, Inc.
Eric Bauchman, a private investment banking and management consultant
based in Mission Viejo, CA who specializes in working with small, high-growth
companies, arranged the investment.
"This financial commitment empowers Pinnacle to achieve its market
development and technical targets. Strong customer service, coupled with
expert management is how PCBM controls corporate growth and maximizes gains in
PCBM shareholder value," said Eric Bauchman.
Pinnacle Business Management is in the business of advancing small loans
until payday and lending money on motor vehicle titles (Title Loans), as well
as cashing checks for the consumer public. Through the use of branded
Pinnacle Cash Cards, and integrating E-Commerce and electronic funds tracking
and transfer technology, Pinnacle will give new opportunities to those
consumers who have been shut out of the economic and E-Commerce mainstream for
various reasons. For more details on these and other PCBM activities, refer
to the Press Releases at pcbm.com. For additional on-line investor
information on PCBM go to:
internetstockmarket.com.
PCBM intends to file to become a reporting company by Second Quarter 1999,
nine months before SEC deadlines take effect. PCBM intends to qualify for a
Nasdaq Small Cap listing by the end of 1999. Growth plans will continue to be
financed through public and private sources. Additional information is
available through the company's web site or by calling the contact below.
Safe Harbor for Forward-Looking Statements: Except for historical
information contained herein, the statements in this press release are
forward-looking statements that are made pursuant to the safe harbor
provisions of the Private Securities Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties, which may cause
the company's actual results in the future periods to differ materially from
forecasted results. These risks and uncertainties include, among other
things, product price volatility, product demand, market competition, risk
inherent in the company's domestic and international operations, imprecision
in estimating product reserves and the company's ability to replace and expand
its holdings.
SOURCE Pinnacle Business Management, Inc.
-0- 06/17/99
/CONTACT: Peter Reinholt, Business Development Department of Pinnacle
Business Management, Inc., 727-669-7781/
/Web site: internetstockmarket.com
/Web site: pcbm.com
(PCBM)
CO: Pinnacle Business Management, Inc.; Primex Capital Inc.
ST: Texas, Florida
IN: FIN MLM
SU: FNC
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