News out on THCL
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thehealthchannel.com
Closes $1.5 Million Private Offering
NEWPORT BEACH, Calif., Aug. 30 /PRNewswire/ -- thehealthchannel.com (OTC: THCL), announced today it has closed its private offering of securities raising $1.5 million. This amount is in addition to the $500,000 in bridge capital provided to the company and disclosed in the press release dated today entitled, "THEHEALTHCHANNEL.COM SECURES BRIDGE FINANCING."
"This private offering has provided the working capital we have needed to execute our business plan by allowing for the migration of all of our software and development activities to take place in-house," said Tom Lonergan, chief operating officer. "It is our belief that thehealthchannel.com is one of the first broad-based e-health companies to deliver content to mobile and wireless applications. The development of our wireless capabilities, include in the recent release of Version 3.5 of our Web site was developed entirely in-house by our programming staff. These funds have also been used to finance strategic alliances, which we believe will improve the experience provided to our customers on the Web site."
With headquarters at 260 Newport Center Drive, Suite 250, Newport Beach, California, thehealthchannel.com, a Delaware corporation, is a Total Health Care Web site offering quality content and interactive health-care management products for both the consumer and professional markets. thehealthchannel.com is also creating proprietary B2B goods and services including Internet enabling traditional off-line health-care businesses while offering a comprehensive health information Internet portal that offers a one-step access point for consumers and professionals who want to explore a broad array of health topics.
Safe Harbor Statement
Included in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct.
SOURCE thehealthchannel.com |
