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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: xcr600 who wrote (8654)	6/24/1999 7:46:00 PM
From: Paullie	Respond to of 57584

xrc600 - <<BDE- Don't forget, they also have issued a floorless. At least this one is holding up better than I expected. (I'm still long.) >> Can you tell me when, where I can find out more information, and whether bde recent financing (in April) changes this. Any thoughts Rande? Here is the news -- (note the press release says "subject to certain minimum and maximum transaction dollar amounts.") <<Brilliant Digital Entertainment Secures $6 Million Standby Equity Line of Credit Provides Brilliant with Control in Accessing Future Funding LOS ANGELES--(BUSINESS WIRE)--April 12, 1999-- Brilliant(TM) Digital Entertainment, Inc. (AMEX:BDE - news), a leading interactive entertainment content and tools developer, today announced that it has secured a standby equity line of credit with a private investor, replacing the standby financing package it arranged in December 1998. The equity line of credit consists of an irrevocable commitment, on the part of the investor, to purchase up to $6 million in Brilliant Digital Common Stock. The commitment has a duration of three years. In exchange for the financing commitment, Brilliant Digital has canceled all stock purchase warrants contemplated under the December 1998 standby financing structure and has redeemed the $100,000 of Convertible Debentures issued pursuant to the earlier package. Brilliant Digital plans to file a registration statement with the SEC to register the sale of the Common Stock underlying the standby equity line. The new financing has been carefully structured to provide Brilliant Digital with control as to when, and at what price, it is able to access funding. The financing structure was undertaken by Brilliant Digital to provide working capital support for the Company's operations. Under the agreement, Brilliant is obliged to access at least $1 million in funding under the equity line. At December 31, 1998, Brilliant Digital had $3.2 million in cash. Kevin Bermeister, President of Brilliant Digital, commented, ''This new equity line provides a less complex structure than the previous facility while still providing Brilliant comparable flexibility and control in drawing-down funding according to our needs and timing. The facility is competitively priced, does not establish an upper limit on the sales price of the stock and provides up to $6 million in funding.'' At the discretion of Brilliant Digital, shares of Common Stock may be sold to the investor from time to time at a 12% or 14% discount to the Market Price (as defined in the Agreement), subject to certain minimum and maximum transaction dollar amounts. The decision to draw any funds and the timing for any such action is at the Company's discretion. Drawings under the financing package are subject to the satisfaction of certain conditions, including the registration of the underlying shares. About Brilliant >>

To: xcr600 who wrote (8654)	6/24/1999 7:49:00 PM
From: Rande Is	Read Replies (1) \| Respond to of 57584

XCR, UOLP is sort of alone in its trek to get ahead. . . not sure still why they dumped their bank loan. . . but BDE has many institutional investors. . .and some great partners, agreements, clients and associations. Also, their deal was for a very low amount of dough. If there has been any concerted effort to squash BDE for the purpose of a cheaper conversion rate. . .we have squashed it with our steady accumulation. Each time anyone has tried to short the stock, we have met their offer with two or three times the bid. Today was actually funny. . .to see the short seller run away when he saw the size growing on the bid. Like a couple of guys telling fish stories. . .LOL. And we have not even needed to call in reinforcements yet. . .to keep our stock from being manipulated. By contrast. . .UOLP wasn't worth the fight. I never expected it to go to 20. Rande Is