Bridge Financing Agreements Announced: Short Term Investments with favorable interest rate and Equity Benefit for providing loan
" In Dec. 1999 and Jan. 2000, the company entered into two bridge financing agreements in which it loaned $250,000 and $525,000 to Entertainment Boulevard Inc. (OTC BB: EBLD).
The company received 100,000 and 210,000 warrants to purchase the common stock of Entertainment Boulevard, Inc., which owns Vidnet.com, a provider of streaming entertainment related media on the Internet, and comprehensive media encoding services.
In March 2000, the company entered a bridge financing agreement, in which the company made a $150,000 loan and the company received 41,584 shares of common stock of Nucleus, Inc. (OTC BB: NCLS).
Nucleus delivers the digital building blocks for businesses to conduct electronic commerce over the Internet. eNucleus Platform Solution (eNPS) provides an integrated environment which delivers high speed Internet transport, licensed e-business enabling software and Web hosting. " |
