XRMD - XRAYMEDIA Announces $500,000 Financing
NEW YORK & VANCOUVER, British Columbia, Oct 1, 2001 (BUSINESS WIRE) --
XRAYMEDIA.COM Inc., (OTCBB:XRMD) is pleased to announce it has implemented a
convertible debenture offering to raise total gross proceeds of $500,000 US
dollars, to be used as general working capital.
XRAYMEDIA.COM Inc., President & CEO Raymond C Dabney, stated, "We have chosen
this route as an answer to the short-term financing requirements of our company.
This instrument offers the most attractive terms and permits investors to
finance our company directly. The injection of capital will enable our company
to focus on growth and sales. Other financing offers from international groups
and individual investors are also being considered. Again, we felt this
instrument is the best option to meet immediate capital needs, and will enable
us to withstand short-term economic or stock market price fluctuations."
XRAYMEDIA and its Live Media Marketplace
Since the initial launch of the Live Media Marketplace, and despite current
economic conditions, heightened interest in the XRAYMEDIA product on the part of
large companies with diverse media purchasing and selling requirements, has
demonstrated the validity of the approach. The ability to instantly find new
media opportunities made available at any given moment with live real time
inventory updating capabilities and an instant private negotiating environment
is becoming a component for businesses who are converging on the Live Media
Marketplace.
Notes Media Director, Meir D. Kahtan, "The company is taking both the initial
number of larger media companies registered and the constant flow of new
unsolicited businesses at the Live Media Marketplace, as an indication of the
industry's acceptance. We are presently finalizing system upgrades to
accommodate these larger companies."
You should not place undue reliance on forward-looking statements in this press
release. This press release contains forward-looking statements that involve
risks and uncertainties. Words such as "will", "anticipates", "believes",
"plans", "goal", "expects", "future", "intends" and similar expressions are used
to identify these forward-looking statements. Actual results could differ
materially from those anticipated in these forward-looking statements for many
reasons, including the risks we face as described in this press release. For
further information about XRAYMEDIA.COM INC., please refer to its Form 10-ksb
filed with the Securities and Exchange Commission and available on the SEC
website at www.sec.gov.
CONTACT: XRAYMEDIA.COM, Inc.
Raymond C. Dabney, 888/777-0658
info@xraymedia.com
or
XRAYMEDIA.COM, Inc./MKPR
Meir D. Kahtan, 212/699-6065
mkahtan@rcn.com |
