PNET and PCBM NEWS...plus PHLB up in pre-market (liquid vitamins....deals with Eckerd's and successful test with Walmart)
PNET completes financing, ready to move forward with their unique, interactive web software:
About Phon-Net....INTERACTIVITY ON THE WEB (entire release below)
One of the main objections by consumers about surfing the web is
the lack of interaction on the Internet. Phon-Net Direct Connect
software takes a major step in satisfying this important customer need.
Direct Connect allows businesses and consumers to interact at the
Internet site, similar to the experience found in a physical store.
SEATTLE, March 30 /PRNewswire/ -- Phon-Net (OTC Bulletin Board: PNET),
the developer of revolutionary software for the Internet, Tuesday
announced it has raised $737,000 from an Institutional Investor through
the sale of a regulation D, 504 private placement. This completes the
$1,000,000 offering. The completed financing replaces the commitment by
the original investor group, dated November 18, 1998.
"By completing the private placement, Phon-Net has eliminated any near
term financing issue. This additional funding will be used for working
capital and to develop additional market exposure and will fund our
existing operations," said Brian Collins, President and CEO of Phon-Net
Corporation.
Phon-Net has aligned itself with a multitude of high-caliber, strategic
Internet partners. Just a few of the partners include BCD-on-line, an
Internet Service Provider and Virtual Merchant, a leader in credit card
services for web based businesses. Each has the ability to move
thousands of units through their existing channels of distribution.
Every web-based business needs to have immediate interaction with web
surfers. Phon-Net's proprietary technology will provide the ability to
connect with consumers and increase revenues more than any other method
currently available. This ability will enable Phon-Net to develop a
substantial revenue base with profitability within the very first year.
About Phon-Net
One of the main objections by consumers about surfing the web is
the lack of interaction on the Internet. Phon-Net Direct Connect
software takes a major step in satisfying this important customer need.
Direct Connect allows businesses and consumers to interact at the
Internet site, similar to the experience found in a physical store.
This software, downloaded for free from the Internet, gives the
consumer the ability to "freeze the business" website image on the
computer screen. The consumer is then directly connected to the
business using the same phone line as his/her Internet connection.
For businesses, Direct Connect becomes a logical solution for problems
encountered in attempting to better serve the customer. Some
advantages of Direct Connect include: Increased Security, customers who
are not comfortable with sending personal and payment information over
the Internet can call the business directly without having to log off.
Instant Access, customers can ask questions about certain products,
leave a voicemail or request e-mail on demand.
SOURCE Phon-Net Corporation
PCBM (Pinnacle News):
CLEARWATER, Fla.--(BUSINESS WIRE)--March 30, 1999--Pinnacle
Business Management, Inc.'s Franchise Division (OTC BB:PCBM --
pcbm.com) announced Tuesday that they are in the final
testing stages of a proprietary closed-loop Extranet application, the
purpose of which is to complement Internet-based management and
administrative support and enable corporate headquarters to provide
secure cash and loan administration services to its franchisees and
company-owned offices.
"Through this breakthrough software, Pinnacle Business
Management, Inc. will provide professionally supported cash
requirements planning and loan administration services to our
franchisee and company-owned offices. We are now empowered to
maximize, while controlling, corporate growth. This fills our need for
in-house electronic car title loan administration, paycheck advance
tracking, check clearing and development of our branded Pinnacle Cash
Card. We are one more step closer to our stated goal; to become a
fully integrated provider of alternative consumer cash resources and a
key provider of secure E-Commerce and retail cash and check
transaction clearing services. PCBM shareholder wealth will be
maximized through expanding our location count, client base and
related technology base. Our proprietary Internet, Extranet and
E-commerce technologies will also be licensed to outside parties,"
said Jeffrey Turino, CEO of Pinnacle Business Management, Inc.
The new software takes advantage of the growing spectrum of
Internet-based technologies. Pinnacle Business Management, Inc.'s
commitment to exploiting the ongoing growth of E-Commerce popularity
will enable purchasers to easily use Personal Checks or Pinnacle's
branded Cash Card on the Internet for such things as purchases and
Internet-based gaming. The realm of E-Commerce can then include
consumers who cannot, do not, or will not use Personal Checks or
Credit Cards for purchases. This proprietary technology will also
enable merchants to be paid faster, and goods will be shipped sooner.
Pinnacle Business Management, Inc. (OTC BB:PCBM --
pcbm.com) is a publicly traded holding company. PCBM
operates through its subsidiaries Fast Title Loans, Inc. and Fast
Paycheck Advance, Inc., and Summit Property Group, Inc., a commercial
real estate division. Proprietary software and hardware is developed
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