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Advantage Capital Development Corp. Portfolio Companies Report Significant Developments
Tuesday January 25, 9:01 am ET
Cinema Ride Reports First-Year Ticket Sales in Excess of $6 Million; NetWorth Solutions Solidifies Marketing Agreement with Database Solutions
MIAMI, Jan. 25 /PRNewswire-FirstCall/ -- Advantage Capital Development Corp. (OTC Pink Sheets: AVCP - News) announced today that two of its portfolio companies, Cinema Ride (OTC Bulletin Board: MOVE - News) and NetWorth Technologies, Inc. (OTC Bulletin Board: NWRT - News) reported significant corporate developments. Cinema Ride, soon to be renamed TIX Corporation, reported first-year ticket sales in excess of $6 million. NetWorth Technologies, formally known as Colmena Corp., announced it has entered into a strategic marketing agreement with Database Solutions, Inc. (OTC Pink Sheets: DBSJ - News).Advantage Capital Development Corp. recently provided a $500,000 bridge loan in the form of a convertible debenture for Cinema Ride, which through its wholly owned subsidiary Tix4Tonight, sells half-price, same-day Las Vegas show tickets. Last month, Advantage Capital participated in a $600,000 strategic investment in NetWorth Technologies, Inc., an information networking, security and IT auditing company.
"From zero to $6 million in first-year ticket sales is truly an outstanding accomplishment," said Jeffrey Sternberg, president and CEO of Advantage Capital Development Corp. "Certainly this validates the company's business model. We're very excited about the potential for second-year sales when Tix4Tonight moves into its new and more high-profile space next month at the Fashion Show Mall in Las Vegas."
Sternberg said that NetWorth's new agreement with Database Solutions calls for the Toronto, Canada company to market the Reliability Edge, NetWorth Systems' proprietary IT network auditing tool, to insurance companies in Canada and the United States as well as market NetWorth's Database Solutions Agent Intelligence system in the U.S.
"We are encouraged by the quality of NetWorth's technology and its aggressive approach to marketing," Sternberg said. "We believe investments in companies like this can provide long-term value for our shareholders."
OPEN FOR DISCUSSION....... I think its a viable company what do you think?
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