CT Holdings Announces Its Pro Rata Participation in Guarantee of Parago's $8 Million Bridge Financing.Business Editors & High-Tech Writers DALLAS--(BUSINESS WIRE)--June 19, 2001 CT Also Announces Steve Solomon Will Serve as Chairman Following Victor Kiam's Passing CT Holdings, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CITN) today announced that it has participated in the guarantee of Parago's recent $8 million 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. with Comerica Bank -- Texas that was initially guaranteed by TH Lee.Putnam Internet Partners, LP. CT Holdings has funded its pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. portion of the required initial contribution to the guarantee escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. account. The terms of the participation interest are described in our Quarterly Report on Form 10-QSB for the quarter ended March 31, 2001. "We are pleased to announce that we have funded our pro rata portion of the guarantee's initial escrow amount related to the bridge financing that Parago recently obtained. We remain pleased about Parago's business prospects and believe that Parago's client value proposition is compelling, its technology is being well received, and its client list continues to grow," commented Steven B. Solomon, President and Chief Executive Officer of CT Holdings. Mr. Solomon continued, "We continue to explore opportunities related to our software line and potential investment transactions and we are excited about the prospects and opportunities for CT and our holdings." CT Holdings also regrets to announce that its Chairman, Mr. Victor K. Kiam II, has died. Steven Solomon stated, "Victor was a great friend of the Company and to me personally. We will miss his business and personal contributions and would like to express our sincere condolences to his family." CT's board will continue to include Larry Lacerte, Phil Romano, Chris A. Economou, Mark Rogers and Dr. Axel Axel: see Absalon. Sawallich, with Steve Solomon now serving as Chairman of the Board in addition to his duties as Chief Executive Officer and President. About CT Holdings CT Holdings, Inc. (OTC BB:CITN) develops and markets its Citadel Technology line of desktop and network security software, and also acts as a developer of early stage companies, including Parago and River Logic. For more information on CT Holdings, our Internet holdings, and our Citadel Technology line of security software products, please visit our Web site at www.ct-holdings.com. About Parago Parago's patent-pending technology platform and processes represent an innovative approach designed to improve the promotional marketing industry. Parago provides a range of Internet-based customer relationship management products, PromoCenter(SM), ValueRewards(SM) and KnowledgeCenter(SM), that are created to increase sales, reduce costs, enhance customer retention for its clients, and improve loyalty. These products comprise Parago's Continuous Customer Interaction(SM) model, which helps retailers, manufacturers and service organizations reduce the cost of conducting promotions and drive incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. revenue by cross-selling and upselling new products and services. During the relationship management process, Parago captures fresh, accurate, and usable transaction and buyer demographic data that can be used by its clients to improve their promotional marketing programs. Parago maintains a Web site at www.parago.com. About River Logic River Logic, Inc. develops decision-support applications for industry. Using COR Technology(TM), a rapid-application development system, developers at River Logic create applications that enable industry professionals to model complex enterprises and explore financial relationships on a desktop computer or laptop Same as laptop computer. laptop - portable computer . Embedded Inserted into. See embedded system. analytics allow end-users to understand the financial implications of critical business decisions easily by manipulating graphical icons that model their enterprise. Headquartered in Beverly, Mass., River Logic is a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation receiving venture capital support from Cardinal Investment, Inc., CT Holdings (OTC BB:CITN), EBSCO EBSCO Elton B. Stephens Company CASIAS, eMed Ventures, Intel Capital, and Mercury Ventures. As previously disclosed, in April 2001, River Logic received an investment led by the Intel(R) 64 Fund. The Intel 64 Fund investment was made in support of River Logic's commitment to port and tune its Enterprise Optimizer(TM) software application to Intel's IA-64 platform, beginning with the Itanium(TM) processor. To learn more about River Logic, visit www.riverlogic.com, call 978/753-5029, or email info@riverlogic.com. For more information on CT Holdings, its Internet subsidiaries, and its Citadel Technology line of security software products, please visit our Web site at http://www.ct-holdings.com. For information on purchasing products, contact us directly by writing or calling: CT Holdings, 3811 Turtle Creek Turtle Creek may refer to: Streams
The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. 75219; phone: 214/520-9292; fax: 214/520-9293. 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. : This news release contains forward-looking statements, which involve risks and uncertainties. Accordingly, no assurances can be given that the actual events and results will not be materially different that the anticipated results described in the forward-looking statements. Investors are also directed to consider carefully the other risks factors and uncertainties discussed in documents we file with the Securities and Exchange Commission, including our Quarterly Report on Form 10-QSB for the quarter ended March 31, 2001 and our Annual Report on Form 10-KSB for the year ended December 31, 2000. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statement made by us. These factors include the availability of capital to CT Holdings; Parago and River Logic; substantial dilution in the event CT Holdings determines not to fully participate in the Parago bridge loan participation in the event the additional payments are required; risks related to our software business line; the activities of new or existing competitors; the ability to attract and retain employees and strategic partners; application of state unclaimed property or escheat The power of a state to acquire title to property for which there is no owner. The most common reason that an escheat takes place is that an individual dies intestate, meaning without a valid will indicating who is to inherit his or her property, and without relatives who laws; general economic conditions; and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. costs. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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