March 30, 2000 07:51
AlphaServ.com Completes $14.6 Million Private Placement Offering;
Proceeds to be Used for Accelerated Expansion of NQL Internet
Division
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SANTA ANA, Calif.--(BUSINESS WIRE)--March 30, 2000--AlphaServ.com (TM) (Nasdaq/NM:ALMI), a
premier provider of Internet software solutions and professional information technology (IT) services,
Thursday announced that it has privately placed $14.6 million (2,342,000 shares) of its restricted
common stock with a number of institutional investors led by Hampshire Equity Partners, whose
investment represents approximately $6.2 million of the total placement amount.
The common stock was priced at $6.25 per share, which represented an 11 percent discount from the
preceding 30-day average closing price of the stock, calculated on March 18, 2000, when the company
signed the engagement letter for the private placement. The company intends to file a registration
statement in connection with these shares.
Sutro & Co. Inc. arranged the private placement transaction. Douglas Burke, managing director of Sutro's
Emerging Growth Investment Banking Group, commented, "We are very pleased at the enthusiastic
institutional acceptance of AlphaServ.com's strategy, especially in regards to its NQL Internet Division."
AlphaServ.com chairman, chief executive officer and president, Douglas J. Tullio, noted that proceeds of
the private placement will be used to launch a much-needed domestic and international marketing
campaign involving branding and advertising, providing an on-going promotional strategy for the company's
NQL (Network Query Language), "The Language of Intelligent Agents."
Tullio stated, "Working capital will be used to expand the company's sales and marketing, technical
development and support, and corporate infrastructure to maximize the marketing of our NQL products."
"Since announcing the pre-release trial availability of NQL in early February," continued Tullio, "and the
integration of wireless technologies into NQL's total solution, we have had a significant number of
downloads of NQL pre-release 1.0 by major Fortune 500 companies in addition to well-known Internet
companies. We are working with many of these companies as they perform their evaluation of our NQL
products."
AlphaServ.com vice president of marketing, Denny Michael commented, "NQL Solutions will be focusing
its marketing strategy on targeting independent IT (information technology) consultants and Internet
solutions providers, as well as independent software vendors (ISVs), portal or vortal (vertical portal)
companies and Fortune 1000 IS (information services) professionals.
"The company views the licensing of its NQL language as its flagship product and is working to develop
and implement a revenue model derived from NQL Development Kits, NQL Runtime Workstations and
NQL Runtime Servers." Michael continued, "The company will be launching a comprehensive campaign
with the goal of branding NQL as the standard for developing intelligent agents."
NQL is a scripting programming language that is designed to streamline the development of intelligent
agents, bots and Web applications. Agents in general are software robots, which can perform repetitive
computing tasks for individual users and corporations, subsequently freeing users' time to focus on more
meaningful, productive activities.
NQL-produced agents are often used to filter and personalize the tremendous amounts of information
available today, especially over the Internet.
About AlphaServ.com
AlphaServ.com, the dba name for Alpha Microsystems, operates an Internet technologies division, NQL
Solutions, and the DCi professional services division. NQL Solutions is a premier provider of Internet
software solutions to the global marketplace.
This division develops and deploys enabling software technologies based on its Network Query Language
to partner systems integrators, Fortune 1000 corporations, Internet communities and marketplaces,
software vendors and Internet-based service providers.
For more information, visit www.NQLSolutions.com or call 888/785-3370. The company's professional
services division is a premier provider of Internet and Intranet consulting and networking, onsite network
support for customers primarily located in the Northeastern U.S. For more information, visit the
company's Web site at www.alphaserv.com.
Certain statements in this news release, including the statement that the company intends to file a
registration statement in connection with the private placement; the company will be launching a
comprehensive campaign to brand NQL as the standard for developing intelligent agents are
"forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward- looking statements involve known and unknown risks and uncertainties, including (i)
circumstances preventing the company from filing a registration statement in a timely manner (ii) market
acceptance of the company's marketing campaign to brand NQL (iii) the company's ability to manage
personnel and external resources (iv) the company's ability to continue developing technology that is
competitive according to industry standards and (v) any unanticipated developments with regard to the
formation of the company's subsidiary, NQL Solutions. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date hereof.
CONTACT: AlphaServ.com, Santa Ana
Steve Shattuck, 714/641-6374 (media)
sshattuck@alphaserv.com
or
Tamara Yanito, 714/641-6216 (investors)
tyanito@alphaserv.com
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