37Point9 Releases Funding Update.Business Editors SAN DIEGO--(BUSINESS WIRE)--Nov. 19, 2001 37Point9 (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TSPN TSPN Teaspoon TSPN Tennessee Suicide Prevention Network (Nashville, TN) TSPN Tom Slivick Productions Network (Pine Grove, CA) ) announced that it was unable to come to final terms with the Goulding Trust on the structuring of the $500 thousand dollar funding package offered by the Trust and negotiations have been terminated. This will not affect the agreement with the Alpha Venture Capital, Inc. for the 5 million dollar structured equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. commitment announced October 31st. As previously stated, Alpha Venture Capital (Alpha Funds) is a private equity fund specializing in providing financing to emerging mid-cap Mid-cap Short for "Middle Cap," mid cap refers to stocks with a market capitalization of between $2 billion to $10 billion. Notes: As the name implies, a mid-cap is in the middle of the pack. A mid-cap isn't too big, but at the same time has a relatively decent market cap. and small-cap companies. The commitment is for one year with an automatic extension of 12 months. Terms of the agreement provide that The Alpha Funds be required to purchase from 37Point9 through a Regulation D Common Stock Private Equity Line up to $5,000,000 of its common stock. Legal Notice Regarding Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : "Forward-looking statements" as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. 37Point9 disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies. |
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