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Technology Stocks : Visual Data (VDAT)

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To: nord who wrote (105)	2/23/1999 8:37:00 AM
From: nord	Read Replies (1) of 405

biz.yahoo.com biz.yahoo.com Visual Data Corp. Receives $2.5 Million in Private Placement POMPANO BEACH, Fla., Feb. 11 /PRNewswire/ -- Visual Data Corp. (Nasdaq: VDAT) announced today that it has received $2.5 million in net proceeds from the sale of common stock to institutional investors in a private placement. The transaction was managed by the Company's investment banker, Coleman & Co. President and Chief Executive Officer Randy Selman stated, ............"This financing is the first step in a series of activities that the Company believes will provide the financial, strategic and global resources necessary to position Visual Data Corporation as a premier provider of audio and video based multi- media production, hosting, serving and distribution for the Internetand eventually Interactive TV......................." The companys warrants were callable on the date of this release 2/11/99. If the company needed money all they had to do was call the warrants. $6M available would be in the bank in a month. The above private placement? Why private. Answer; maybe this is the first equity payment by the as yet unnamed partner!! If the extra stock availavle for issue sitting in the co. vault goes to our big brother so be it. I like the ties to the worlds largest internet news service with a global presence. Bigger than Reuters, Bloomberg,CNN,NBC,ect. This is a new news media and vdat and prn are getting ready for preime time video over the net the first half of this year per prior posts. Norden

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