4networld.com, Inc. Completes a $500,000 Private Placement.Business Editors NEW YORK--(BUSINESS WIRE)--July 11, 2000 Today, 4networld.com, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FNTW) announced that the Company completed a $500,000 private placement. The Company reported that on June 30, 2000, it closed a private transaction with its Chairman, Steven N. Bronson pursuant to which Mr. Bronson acquired 2,000,000 restricted shares of the Company's unregistered common stock for a total purchase price of $500,000. The purchase price was paid by the cancellation of a Promissory Note promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. , dated May 5, 2000 from the Issuer to Mr. Bronson in the amount of $100,000, and the payment by Mr. Bronson to the Company of $400,000. The funds will be used for working capital and to assist the Company in carrying out it business strategy. Steven N. Bronson, Chairman and President of the Company stated that "My investment in 4networld shows my further commitment to 4networld's business strategy and my belief in the future prospects of the Company." The Company intends to complete an additional financing in the near future to support its strategy to acquire proprietary technology and internet infrastucture companies. About 4networld.com, Inc. 4networld.com, Inc., (http://www.4networld.com), plans to make acquisitions and strategic investments in companies that have developed unique, turnkey systems A complete system of hardware and software delivered to the customer ready-to-run. In other words, just "turn the key" and go.  A Turnkey Video System , that provide businesses with Internet related products and services. 4networld's objective is to become a premier business-to-business ("B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business ") Internet enabling company by acquiring solution companies in major segments of the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. . 4networld's strategy is to acquire controlling interests controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in each company in which it invests and to integrate its portfolio of companies into a collaborative network that leverages the collective knowledge and resources of 4networld. In addition to providing management and financial support, 4networld will also assist in the marketing, sales, and accounting functions for each acquired company. Certain of the statements contained herein are 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. within the meaning of 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 . Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements to reflect the occurrence of unanticipated events. |
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