LGPT news:
Monday March 27, 5:01 am Eastern Time
Company Press Release
Log Point Receives Commitment Letter for Major Financing
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--March 27, 2000--Log Point Technologies, Inc., a California-based computer-related technology corporation (``Log Point')(OTCBB:LGPT - news) announced it has received a Letter of Commitment for $20 million financing from Monmouth Partners of New Jersey, with the option to increase financing as the Company expands its operations.
Monmouth Partners based its decision to finance Log Point on the Company's business plan and third party evaluation of the Company and its technology. Additional information regarding this financing will follow in approximately 7-10 days.
Log Point Technologies, Inc. was formed to create a major revolution in commercial numerical computation by applying its breakthrough patented algorithmic technology at fundamental levels across entire huge markets of the software and digital electronics industries. Math-intensive
applications that are enhanced by Log Point's patented embedded libraries experience speed increases of 2 to 1000 times.
Log Point is now the world's leading developer of high performance exponential floating-point (efp) computation for embedded systems and digital processing (DSP). Log Point intends to become a dominant player in the numerical processor, embedded controls and DSP markets by making the
Log Point exponential floating-point computational methodology an industry standard.
Log Point's corporate offices are located at 465 Fairchild Drive, Suite 111, Mountain View, CA 94043. For further information contact Investor Relations, Pat Vitucci at 609/748-0563. For on-line investor information, please go to: www.internetstockmarket.com/lgpt.html
Contact:
Log Point Technologies
Pat Vitucci, 609/748-0563 (IR)
Samuel Shanks or Lester Pickett, 650/967-3974
info@logpoint.com
logpoint.com |
