BrowseSafe.com Announces Completion of $3 Million Private Equity Funding.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--March 30, 2000 BrowseSafe.com, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :PGPG - news), announced today that the company has completed their private placement bridge financing Bridge Financing A method of financing, used by companies before their IPO, to obtain necessary cash for the maintenance of operations. Notes: These funds are usually supplied by the investment bank underwriting the new issue. of three million dollars from GenesisTank.com (www.genesistank.com), an Internet business incubator Business incubators are organizations that support the entrepreneurial process, helping to increase survival rates for innovative startup companies. Entrepreneurs with feasible projects are selected and admitted into the incubators, where they are offered a specialized menu of (currently incorporated as California Applied Research, Inc.). Under terms of the agreement, GenesisTank.com has placed a total of $3 million in exchange for common shares of BrowseSafe.com. "The completion of this financing will enable BrowseSafe.com to immediately begin the implementation of our aggressive marketing efforts for our products as well as the fulfillment of existing contracts. Our relationship with GenesisTank.com is a significant asset to our corporate development," stated Mark Smith, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of BrowseSafe.com. "We are extremely excited about the immense opportunity at BrowseSafe.com. We believe strongly in BrowseSafe's product line," stated Michael Avatar, CEO of GenesisTank.com. About BrowseSafe.com BrowseSafe.com is an Internet content review company that offers parents worry free browsing for their children of all ages through its PlanetGood product line. BrowseSafe physically reviews and categorizes each and every website, empowering parents with the ability to determine the type of appropriate web content that is viewable and to control access through PlanetGood's various levels of browsing. Those levels include: PlanetWow for kids, PlanetCool for teens and PlanetHome for adults. (www.browsesafe.com) BrowseSafe.com has also formed partnerships with Microsoft (Nasdaq:MSFT-news) and Netscape, which was previously acquired by America Online See AOL. (NYSE NYSE See: New York Stock Exchange :AOL-news), to distribute a customized version of Internet Explorer Microsoft's Web browser, which comes with Windows starting with Windows 98. Commonly called "IE," versions for Mac and Unix are also available. Internet Explorer is the most widely used Web browser on the market. It has also been the browser engine in AOL's Internet access software. and Netscape Navigator An earlier Web browser for Windows, Macintosh and X Windows from Netscape that provided secure transmission over the Internet. Soon after its introduction in 1994, Navigator, or just "Netscape," as it was commonly called, quickly became the leading browser on the Web. with PlanetGood. About GenesisTank.com: GenesisTank.com creates, develops, manages and/or acquires Internet-related businesses, which it wholly-owns. GenesisTank.com also provides management, expertise and equity investment to launch phase Internet companies such as BrowseSafe.com. 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. Statement: Certain information included in this communication (as well as information included in oral statements made by BrowseSafe.com) contains statements that are forward looking, such as statements relating to further anticipated direction of Internet industry, plans for further expansion, various business development activities, planned capital expenditures, funding resources, anticipated sales growth and potential contracts. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. BrowseSafe.com, PlanetGood, PlanetWow, PlanetCool, and PlanetHome are registered trademarks of BrowseSafe.com, Inc. All rights reserved. All other trademarks are property of their respective owners. |
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