Base Ten Systems Announces Closing of Restructuring Transactions.TRENTON Trenton, town, Canada Trenton, town (1991 pop. 16,908), SE Ont., Canada, on the Bay of Quinte at the mouth of the Trent River and at the south end of the Trent Canal. Its manufactures include textiles, electronic components, and paper and steel products. , N.J.--(BW HealthWire)--March 8, 1999--Base Ten Systems, Inc. (Nasdaq:BASEA BASEA Boston Area Solar Energy Association ) announced today that both the exchange of Series A Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". for Series B Convertible Preferred Stock and the conversion of the Company's $10 million 9.01% convertible debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. to common stock were completed on March 5, 1999. As a result there are now approximately 15,203 shares of Series B Convertible Preferred Stock with a conversion price of $4.00 outstanding and 2.5 million shares of common stock have been issued to the holders of the convertible debentures. Base Ten Systems is a leading software technology company, focused on execution systems and services for the pharmaceutical, fine chemicals and medical products industries. Through installation of BASE10(tm) software, the company's customers around the world can enjoy more effective regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. compliance, improved manufacturing flexibility and reduced production cycle time. BASE10(tm) execution systems are readily integrated with complementary software partners as manufacturers consolidate Consolidate To combine the assets, liabilities, and other financial items of two or more entities into one. Notes: This term is generally used in the context of consolidated financial statements. their operations into global supply chain processes. You can learn more about Base Ten Systems by visiting its web site at www.base10.com. (a)Forward Looking Statements The foregoing contains "forward looking information" 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 of 1995. Such forward looking statements may be identified by a letter 'a' in parenthesis parenthesis: see punctuation. The left parenthesis "(" and right parenthesis ")" are used to delineate one expression from another. For example, in the query list for size="34" and (color = "red" or color ="green") ("a") or by such forward looking terminology as "may", "will", "believe", "anticipate", "expect", or similar words or variations thereof. Such forward looking statements involve certain significant risks and uncertainties. Important factors that the Company believes may cause actual results to differ materially from such forward looking statements are discussed in the "Risk Factors," "Business" and "MD&A" sections of the Company's current S-3 registration statements and annual and quarterly reports on file with the Securities and Exchange Commission. Additional risk factors include the effectiveness of the new software and ability of the new software to operate without "bugs" in the technology, acceptance of the release by customers and actual rollout as a result of the release. In assessing such forward looking statements you are urged to read carefully those reports and other filings. The Company does not undertake to publicly update or revise its forward looking statements even if experience or future changes indicate that any such results or event (expressed or implied) will not be realized. |
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