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Gold/Mining/Energy : USA Video Interactive (US:ASE) -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (1507)	7/10/1998 5:16:00 PM
From: AKR	Read Replies (1) \| Respond to of 1841

New Programming Division Mr. Edwin Molina reports The company has established a USA Video programming division, for the express purpose of negotiating and finalizing agreements pertaining to the production, distribution, and exhibition of Video-on-Demand content, using the company's patented store and forward technology. Stephen Kutner has agreed to oversee the development of this division. Mr. Kutner has 25 years of entertainment programming experience, including serving as the senior programming executive and president of Select TV. He has served as the senior vice-president of programming for United Satellite Communications. The company has also signed an investor relations agreement with Vantage Point Capital of Burlington, Ontario. The agreement is for 12 months. The company has also arranged a private placement of 6,000,000 units at 10 cents. Each unit consists of one share and one warrant. Each one warrant entitles the holder thereof to purchase one additional share at 10 cents, exercisable for two years from the date of payment for the units. The 6,000,000 shares issued as part of the units and upon conversion of the warrants are subject to a 12 month hold period from the date of the payment for the units. The proceeds will be used towards the further business development of the company, allowing for increased deployments of the company's Video-on-Demand system.