Well I think Corel is going to make a bundle on their share partnership in GraphON Corporation Tuesday February 2, 10:42 am Eastern Time. The product ( JBRIDGE)which they gave up in return for equity in this company will be worth 10's of millions of dollars. Cash flow will go through the roof for Corel and dont forget the other equity stake they have will as well. Hint: Thats coming soon as well. Gees wouldnt you think now that all these 25% interests are going to bring all the necessary capital the company needs for its future. You bet it is and that is not promotion. Those are all hard facts. More to come but wait for the whole story too unfold step by step. It gets better with time.
Added another 200k today and will add to my position tomorrow.
Company Press Release
Unity First Acquisition Corporation Announces Execution of Definitive
Merger Agreement With GraphOn Corporation
NEW YORK--(BUSINESS WIRE)--Feb. 2, 1999--Unity First Acquisition Corporation (OTC BB: UFAC; UFACW; UFACZ) today announced it has executed a definitive merger agreement with thin, server-based connectivity software company, GraphOn Corporation (''GraphOn''). UFAC will issue 6,790,000 shares of its common stock in exchange for all of the outstanding stock of GraphOn. Consummation of the proposed merger is subject, among other conditions, to approval by Unity First's public stockholders and by GraphOn's stockholders. There can be no assurance that the proposed merger will be successfully consummated.
UFAC also announced that GraphOn has completed a $5,175,000 private placement of common stock, which closed January 28, 1999. Bill Dioguardi, President of Spencer Trask Securities, Inc., GraphOn's private placement agent, said, ''With the $11 million of new capital, comprised of the private placement proceeds and $6 million of cash to be available upon completion of the Unity First merger, GraphOn will be well positioned to pursue its goal of becoming a leader in thin, server-based connectivity software.'' Mr. Dioguardi also added, ''In addition, if certain conditions are satisfied following the merger, up to an additional $20 million may be raised through the exercise of Unity First's outstanding Series A and Series B warrants.''
GraphOn, a privately held company, developed its software and has to date licensed it on an OEM basis to IBM, Sun Microsystems, Corel and Sybase. GraphOn also sells its software through resellers. GraphOn's software lets diverse desktops and computing devices access and utilize UNIX and Linux applications from virtually any location over both fast networks and slow Internet connections. UNIX has been widely used for a number of years by Fortune 1000 companies.
As previously announced, GraphOn, on December 31, 1998, acquired jBridge(TM) technology from Corel Corporation [Nasdaq:COSFF - news] which is designed to enable thin, server-based access to Windows applications. GraphOn President and Chief Executive Officer, Walt Keller, said, ''The jBridge technology, when added to GraphOn's existing products, is expected to enable our company to connect practically any software on any server to any simple or complex computer or device over any connection.''
Unity First was formed in May 1996 to serve as a vehicle to effect a merger or similar business combination with an operating business which Unity First believes has significant growth potential. Unity First consummated an initial public offering of its equity securities in November 1996 from which it derived net proceeds in excess of
$6.0 million.
GraphOn develops, markets and supports software designed to speed and simplify network computing and enable efficient thin, server-based applications. Its products include GO-Global(TM), the world's first thin client X server for PC's running Microsoft Windows, GO-Joe(TM), the world's first thin client Java X server, and GO-Between(TM), the world's first thin client X server for multi-user NT (such as Microsoft® Terminal Server, Citrix WinFrame, and New Moon LiftOff). GraphOn has strategic relationships with major UNIX system vendors, network computer and terminal vendors, system integrators, and software companies. GraphOn's customers are primarily Fortune 1000 corporations. GraphOn is headquartered in Campbell, California with offices in Seattle, Washington and Concord, New Hampshire. More data on GraphOn can be found at www.graphon.com
GraphOn, GO-Joe, GO-Global, GO-Between, GlobalHost, Universal X server, RapidX, ThinX and jBridge are trademarks or registered trademarks of GraphOn in the USA and other countries.
This press release contains statements that are forward looking as that term is defined by the US Private Securities Litigation Reform Act of 1995. These statements are based on current expectations that are subject to risks and uncertainties. Actual results will differ due to factors such as shifts in customer demand, product shipment
schedules, PC shipment growth, product mix, competitive products and pricing, technological shifts and other variables. Readers are also referred to UFAC's most recent reports on Form 10-K and 10-Q and other reports filed with the Securities and Exchange Commission. |
