Appiant Technologies Files Form 8K Reporting Authorization of a Series B Preferred Stock Class and Issuance of Shares.Business Editors/High-Tech Writers PLEASANTON, Calif.--(BUSINESS WIRE)--Nov. 16, 2000 $8.5 Million Currently Raised to Fund InUnison(TM) Launch Nhancement Technologies Inc. (Nasdaq:NHAN), now doing business as Appiant Technologies Inc., a leading provider of unified communications The real time redirection of a voice, text or e-mail message to the device closest to the intended recipient at any given time. For example, voice calls to desk phones could be routed to the user's cellphone when required. and unified information (UC/UI) technologies, today announced that it has filed with the Securities and Exchange Commission Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. reporting the authorization and creation of a new stock class, Series B Preferred, and the issuance of a number of those shares pursuant to a Stock Purchase Agreement, dated Oct. 31, 2000. The Series B Stock Purchase Agreement enables the company to raise up to $12 million in the offering if the stock is fully subscribed Fully Subscribed A situation in which an underwriting firm has successfully sold to investors all of its available issues of a public offering of securities. When the issue is fully subscribed, the underwriter's risk of being undersubscribed (being unable to sell its allotment of by Jan. 31, 2001. To date, $8.5 million has been raised. The Series B preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. are convertible into common, and both classes of shares will be registered with the SEC. The Agreement contains various lock up and anti-short provisions. Proceeds from the offering will be used to finance the company's working capital needs to help launch its hosted InUnison(TM) unified information and unified communications business. Other terms of the Agreement can be found in the Form 8K filed with the Securities and Exchange Commission. "This capital raise helps us to fund the aggressive launch of our hosted InUnison(TM) unified information and unified communications ("UC/UI") business to maintain our first mover advantage in the UC/UI space," said John Zavoli, CFO See Chief Financial Officer. and general counsel at Appiant Technologies Inc. "While we have access to other financing options, including a $50 million equity line which we have not utilized and have no current plans to do so, we believe that at this time, the Series B preferred offering is more competitive than these other financing options -- especially when you factor in the lock up and anti-short provisions," Zavoli added. About Appiant Technologies Inc. NHancement Technologies Inc., now doing business as Appiant Technologies Inc., (Nasdaq:NHAN), a Cisco Powered Network provider, is a software applications and services company that specializes in unified communications and unified information (UC/UI) solutions. Its InUnison(TM) IP-based hosted portal and applications will create "ultimate sticky minutes" for service providers such as wireless service providers, ISPs, ASPs, CLECs. Appiant Technologies' products facilitate client use of telephone, e-mail, faxing, paging, and Web-based communications to keep in touch with customers and with one another. Appiant Technologies has developed an end-to-end solutions suite to enable companies to do business on the road as effectively as in the office. By simplifying business communications and improving access to distributed corporate information (data) resources, Appiant Technologies' hosted applications help clients build solid customer relationships and maximize revenue opportunities. Appiant Technologies' voice processing The computerized handling of voice, which includes voice store and forward, voice response, voice recognition and text to speech technologies. and software development expertise, and information technologies provide their clients with end-to-end unified communications and information solutions. Appiant Technologies' combination of voice, data, and Web-enabled software provides the connectors that allow Appiant Technologies to seamlessly link together every key internal and external audience in their enterprise: customers, employees, partners, and investors. Appiant Technologies also provides customized software See custom software. development to accommodate each client enterprise's individualized in·di·vid·u·al·ize tr.v. in·di·vid·u·al·ized, in·di·vid·u·al·iz·ing, in·di·vid·u·al·iz·es 1. To give individuality to. 2. To consider or treat individually; particularize. 3. needs. Software projects often focus on ensuring that legacy data be effectively called forward to allow clients to deploy their new system(s) without delay. The company's development experience includes working with many popular call centers, customer relationship management, and sales force automation Automating the sales activities within an organization. A comprehensive SFA package provides such functions as contact management, note and information sharing, quick proposal and presentation generation, product configurators, calendars and to-do lists. products. Appiant Technologies' software development services are designed to help clients quickly enjoy the benefits of an improved customer management interface. For more information, please visit http://www.nhan.com. Note: Except for historical information contained herein, certain matters set forth in this announcement 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. . Such forward-looking statements are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions 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 of 1995. These forward-looking statements are based on management's expectations that involve risks and uncertainties of which may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to, such factors as: the financial performance of the company, market acceptance of the company's products and applications, the ability to raise equity and debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay , and other factors as described in the company's SEC filings. |
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