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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: Andrew G. who wrote (4737)	2/7/2000 3:29:00 PM
From: Sir Auric Goldfinger	Read Replies (2) \| Respond to of 19428

IVDO: I know that it has completed a financing at 1/4 of it's price and that there are warrants from old financings all over the place and that their technology is BS. Bs dot com press releases do not over come massive dilution: "IVT Completes $19M Equity Financing; Company Changes Name from 2/2/0 9:19 (New York) IVT to burst.com Business/High-Tech Editors SAN FRANCISCO--(BUSINESS WIRE)--Feb. 2, 2000--San Francisco-based Instant Video Technologies, Inc. (OTC:IVDO) www.burst.com announced today that it has closed a $19 million round of financing involving several major institutional investors -- New York-based Special Situations Fund, L.P., Chelsey Capital, Ravinia Capital Ventures, LLC, and BayStar Capital L.P. of San Francisco. The round was comprised of approximately $14m in cash and the conversion of outstanding notes totaling $5.3 million. For each $4.00 invested, the Company issued one share of common stock and a warrant to purchase one share of common stock at an exercise price of $5.00. The price represents a 30% discount to the average trading price of the stock at the time that the terms were negotiated. In connection with this financing, all of the company's preferred stock was converted to common stock. The company also announced that it has changed its name to burst.com and has retained E-Offering www.eoffering.com to assist with strategic planning. "We're extremely excited about the additional opportunities that this financing brings," said Richard Lang, Chairman and CEO of burst.com. "This investment will assist burst.com in establishing its presence in the burgeoning Internet video market, and will provide funding for future product enhancements and strategic business development." "We believe we have built a formidable patent portfolio that is now embodied in Burstware(R), a powerful solution that we believe represents the future of media streaming. There are numerous applications for TV-quality video and CD-quality audio over the Internet and other communications networks that Burstware(R) is positioned to successfully enable. We believe that our technology will be a major force in the emerging convergence industry," said Lang. According to Lang, the decision to change the company name was made in order to more accurately reflect the company's core technology, which is the basis of its current software product, Burstware(R). The name change also positions the company more strongly in the Internet video arena, a shift in strategy from the previous intranet focus. For more information about burst.com and Burstware(R), visit the company's web site at burst.com. burst.com, headquartered in San Francisco, California is the leading developer of Faster-Than-Real-Time(TM) and Burst-Enabled(TM) video and audio delivery software. burst.com's Burstware(R) provides high-quality delivery of full motion video and CD-quality audio over any IP-based network. The company has built an international patent portfolio covering bursting, video delivery scheduling and rapid-casting. Burstware(R) is a registered trademark of burst.com, and Faster-Than-Real-Time(TM) and Burst-Enabled(TM) are trademarks of burst.com. This news release contains forward-looking statements relating to the future performance of burst.com, and the success of its products. These forward-looking statements are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in burst.com's (formerly IVT) filings with the Securities and Exchange Commission (SEC)."