Forecross Corporation : Y/2000 Message Board

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Technology Stocks : Forecross Corporation : Y/2000

FRXX 0.000400

+100.0%

Mar 7 3:00 PM EST

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To: fortitude who wrote (1636)	4/4/2000 11:15:00 PM
From: John T. Hardee	Read Replies (1) of 1654

Forecross Raises Cash and Converts Debt Tue Apr 04 12:01:00 EDT 2000 SAN FRANCISCO, Apr 4, 2000 (BUSINESS WIRE) -- Forecross(R) Corporation (OTCBB:FRXX), a legacy to web and XML implementation solutions company, announced today that it has raised $1,632,000.00 in cash and converted more than 80% of all of its debt, short- and long-term, into equity in a private placement. "This placement is a significant milestone," said Bernadette Castello, Chief Financial Officer. "With this additional cash plus the interest expense reduction from the debt conversion, the Company can begin to add sales and marketing resources to more aggressively market its Legacy to Web and XML solutions. Units in the placement consisted of one share plus one-half warrant and were priced at $2.66 per unit." The following Pro Forma Balance Sheet shows the effect of the transaction and is based on the Balance Sheet of the Company at December 31, 1999.

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