To: HairBall who wrote (22362 ) 7/26/1998 11:00:00 AM From: Chad Beemer Read Replies (1) | Respond to of 94695
LGregg, Do a TA on this NPCT that I have been following over the past few weeks as it intrigues me. Maybe we are looking at a possible Big Kahuna. I was on an airplane with Steve Cotton of Lucent recently and he told me Lucent had lots of things up its sleeve and said the stock should do well so I and my group picked up some and it has done well. This NPCT bears watching on the bell Monday. I think it could be big. I have been watching a small company that appears to have a particle board technology with merit from what I have read at www.billingtons.com website. One of the licensees is Micromodule who I know sells to Intel and I think you can go to their website and Exatrons to see diagrams of the technology. Anyway they got a big 8.5 million dollar financing that came out after the close on Friday and it values NPCT at 10 dollars and it currently trades at 4 bucks. I hear institutions like Bear Sterns and Oppenheimer are very interested among other investors both here and abroad. I noticed Friday it gapped up almost a dollar in the last 10 minutes of trading and closed on its yearly highs. I think it bears watching next week. I think you can call 800-828-1866 for more info anytime. Also email me for more info. Here is the release: Nanopierce Technologies, Inc. Closes $8.5 Million Financing DENVER, July 24 /PRNewswire/ -- Nanopierce Technologies, Inc. (OTC Bulletin Board: NPCT) today announced that it had completed a $8,500,000.00 Financing, through its Financial Consulting Firm, The Global Funding Group, L.L.C., Raleigh, North Carolina. Gilbert Olachea, President and Chief Executive Officer of Nanopierce, stated, "This investment is a significant milestone in the success of Nanopierce. It also is a clear commitment by the financial market of the confidence they have in Nanopierce's ability to secure the emerging market for its technology. While executing to a precise strategy and tactics in bringing profitable markets into our fold, we will simultaneously focus on investor equity and shareholder value." The $8.5 Million financing is a staged, two year credit facility. At its discretion, when and as required, Nanopierce has the right to require the purchaser to purchase up to 150,000 Series B Preferred Shares for a total of $1,500,000.00 and up to 700,000 Series C Preferred Shares for $7,000,000.00. Both Series of Preferred Shares are convertible into the Common Stock of Nanopierce Technologies, Inc. The conversion price of the Series B Preferred Shares is the lesser of 110% of the average of the Closing Bid Price for the Common Stock of Nanopierce on the Date of Closing or 80% of the average of the Closing Bid Price for the five days preceding the Date of Conversion. The Series C Preferred Shares are purchasable at a 17.5% discount from the average of the Closing Bid Prices for the five days preceding the Date of Conversion. This structure minimizes the dilutive effect of the financing on the Company. The Preferred Series are non-voting. The shares have a deemed value of $10.00 per share. In addition, Nanopierce issued to the purchaser of the Preferred Series B and C shares three-year warrants exercisable at 125% of the closing bid price on the date of closing into common shares of Nanopierce. In conjunction with the financing, the Company has agreed to provide certain registration right with respect to the securities offered. Nanopierce owns ten patents, seven patent applications pending, two patent applications in preparation and other intellectual properties, relating to the Nanopierce Technology Material (NTM). This revolutionary material is designed to provide an electrically and mechanically reliable interconnection method for high-density circuit board components without the use of metal pins and solder techniques. Of the 12,342,350 shares outstanding, Intercell Corporation (OTC Bulletin Board: INCE), affiliates and others own approximately 11,747,111 restricted shares. As inducement to obtain the financing Paul H. Metzinger, Executive Vice President of Nanopierce and his wife agreed to escrow a significant amount of their ownership in Nanopierce. Feel free to email me at brassman@netins.net