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Non-Tech : Ashton Technology (ASTN) -- Ignore unavailable to you. Want to Upgrade?

To: Snowman who wrote (3574)	2/8/2001 8:06:34 AM
From: Rob W	Read Replies (1) \| Respond to of 4443

From 1999 shareholder meeting notes. "Fred R. said that the 5000 share minimum will be maintained and that eventually "John Q. Public" will use ATG products, but not directly, rather through intermediate companies." Interesting to see them finally get around to retail applications. Per the last webcast, "Commercial viability of eVWAP is the first pt of attack." That will be determined by the institutional side so maybe the expansion to retail is a subtle sign of progress in implementing the business plan. Ashton Technology Announces Investment in JAGfn Broadband Negotiates Private Placement of Common Stock PHILADELPHIA, Feb 7, 2001 (BUSINESS WIRE) -- The Ashton Technology Group, Inc. (NASDAQ: ASTN chart, msgs) today announced it has made a minority equity investment totaling $1.5 million in JAGfn Broadband, LLC, previously a subsidiary of JagNotes.com Inc. JAGfn (www.jagfn.com), based in New York, is an electronic media company offering forward looking market information from independent market analysts and professionals and is a leading provider of Internet-based financial news and information. Effective February 1, 2001, JAGNotes.com, Inc., effected a sale of its 85% membership interest in JAGfn to CALP II Limited Partnership. Ashton also negotiated the sale of 1.33 million shares of its common stock to Thomson Kernaghan & Co., Ltd. in a private placement. The purchase price for the shares was $1.50 per share. Thomson Kernaghan was also granted 200,000 warrants to purchase common stock. Ashton has agreed to register, under the Securities Act of 1933, the resale of the common stock and the common stock issuable upon exercise of the warrants. Gross proceeds of $2 million from the sale of the common stock will be used to fund Ashton's investment in JAGfn and for general working capital needs related to Ashton Technology Canada, Inc., a majority-owned subsidiary of Ashton. Ashton's CEO, Fredric W. Rittereiser, stated, "We are extremely pleased to participate in the JAG transaction with our partners. Ashton has been engaged in discussions with JAG to promote eVWAP(TM) for on-line retail investors." Mr. Rittereiser added, "The additional funding for Ashton Canada will enable us to hire additional local staff in technology, and sales and marketing related to the launch of our eVWAP(TM) trading system as a facility of the Toronto Stock Exchange, Inc." Arthur J. Bacci, Ashton's President added, "The JAG relationship, when combined with the distribution agreements being negotiated by eMC(TM), should enable us to also gain access to a wider market of investors who could benefit from the products and services being assembled on the eMC platform."