Infinium Exercises Timeline Warrant
BELLEVUE, Wash. & HYANNIS, Mass.--(BUSINESS WIRE)--Feb. 7, 2000-- Timeline Inc., (OTCBB:TMLN) today reported Infinium Software, Inc. (Nasdaq:INFM) exercised a warrant for 300,000 shares of Timeline common stock.
In March 1998, Infinium purchased from Timeline a non-tradable warrant for up to 300,000 shares of Timeline common stock for $100,000. The warrant's $1 per share exercise price represented a premium to the price of the common shares at the time of the original agreement. The warrants were issued in conjunction with an agreement which called for Timeline to develop integrated financial reporting and budgeting to complement Infinium's popular financial management solutions.
"We have enjoyed a long and mutually beneficial relationship with Infinium, and welcome them to our shareholder group," said Charles Osenbaugh, president and CEO. "We believe Infinium's capital investments in Timeline further enhances our alliance with them."
About Infinium
Infinium offers Web- and server-based financial, human resources, supply management, process manufacturing and business intelligence solutions, services, support and deployment options that enable the virtual enterprise and empower people to do great work. Infinium helps high-growth companies thrive by rapidly deploying cost-effective, flexible, robust and reliable enterprise business solutions that meet customer-specific needs. Infinium has more than 2,000 customers worldwide representing a variety of industries including process manufacturing and discrete manufacturing, gaming and hospitality, healthcare, retail, distribution, transportation, and business and professional services. Founded in 1981, Infinium has offices worldwide and is headquartered in Hyannis, Massachusetts. For more information on the company visit its website at infinium.com.
About Timeline
Timeline develops, markets and supports proven, Microsoft Windows-based financial management reporting software suitable for complex applications such as those found in medium to large, multinational corporations. Timeline Analyst for Microsoft Excel was developed for Windows `95 and Windows NT and thus takes full advantage of the new operating systems from Microsoft. On Friday, February 4, Timeline shares closed the trading day at $1.94. For more information on Timeline visit www.timeline.com
CONTACT:
Timeline, Inc. (Investor Relations)
Paula McGee, 425/822-3140 |
