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Technology Stocks : 7th Level

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To: Jonathan Brown who wrote (702)	4/22/1998 9:28:00 AM
From: Kimberly Lee	Read Replies (1) of 1019

Excellent news announced this morning. Jonathan, you beat me to it. newsalert.com Highlights: SEVL announced that the Company and privately-held Pulse Entertainment, Inc. of Los Angeles have decided not to proceed with their proposed merger. Separately, 7th Level announced it has obtained commitments for a $4.5 million bridge loan and a $10 million private placement to finance the ramp up and rollout of 7th Level's revolutionary new line of technology products. We have raised the funds called for by our business plan and our existing shareholders will experience substantially less dilution than they would have had the merger and related financing been completed." The unique approach underlying the technology is destined to make 7th Level's tools the standard for preparing and delivering interactive animation. With our low fixed cost, enabled by a 90% reduction in staff over the past several months, and control of a developing standard, for which we see substantial demand, we now are confident that 7th Level is on the cusp of establishing a very profitable and sustainable business."

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