CXNM/Bio-Tracking Announces Letter of Intent for Two Million Dollars in Bridge Financing.MONTREAL -- CXNM/Bio-Tracking Security Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CXIN): Announces receipt of "Letter of Intent" for 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 two million dollars from L.P. Capital of Florida Noun 1. capital of Florida - capital of the state of Florida; located in northern Florida Tallahassee Everglade State, FL, Florida, Sunshine State - a state in southeastern United States between the Atlantic and the Gulf of Mexico; one of the Confederate , a venture capital firm specializing in innovative technologies. The two million dollar disbursement terms are; $500,000.00 thirty days following closing, and $1,500,000.00 issued in increments of $250,000.00 quarterly over an 18 month period pending conditions and due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . "This funding is an essential step for our company. It solidifies our financial requirements for the next two years while substantially increasing shareholder value. This is an exceptionally exciting time for Bio-Tracking, as we are now on the threshold of great things" remarked the Board of Directors, Bio-Tracking. "We have been courted by over a dozen venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] from North America including Montreal, Toronto, Boston, Chicago, New York, Los Angeles and Florida, with offers ranging from $500,000.00 to $7,500,000.00, by small private firms to large multi-national conglomerates. I have traveled to meet with each of these companies to clarify that their intentions are aligned with ours. By placing them under a microscope I have ensured fairness for both parties, while significantly increasing shareholder value by preventing any unnecessary dilution," pronounced Mr. Michael Tremis, Chairman, President & 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. . BIO-TRACKING SECURITY INC. Bio-Tracking designs and manufactures vehicle/asset tracking and security technology, based on a Patent Pending, wireless interconnection method real-time tracking system. With driver privilege control, remote shutdown, lock/unlock capabilities, GPS navigation and tracking, biometric fingerprint identification, voice and spectrum communication. We have added a division to focus on Homeland Security, International Counter-Terrorism, and Informative Risk-Management solutions. The company will offer worldwide informative, technical and sales support through it's North American office. SAFE HARBOR STATEMENT Safe Harbor Statement under 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: The statements contained in this release which are not historical facts may be deemed to contain forward looking statements with respect to events, the occurrence of which involves risk and uncertainties including, without limitations to; demands and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow and manage its operations. |
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