Circle Group Portfolio Companies Raise Additional Capital; Three Portfolio Companies Raise Additional Financing From Outside Sources for Expansion.Business/Technology Editors MUNDELEIN Mundelein (mən`dəlīn) village (1990 pop. 21,215), Lake co., NW of Chicago, NE Ill.; founded 1835 as Mechanics Grove, inc. 1909. The name was changed in 1926 to honor George Cardinal Mundelein. , Ill.--(BUSINESS WIRE)--July 31, 2002 Circle Group Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the , Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CRGQ), a funding and consulting source for emerging technology companies, announced today three of its portfolio companies recently closed on additional rounds of financing.
-- FurnitureFind.com, a leading home furnishings destination on
the Internet, closed on an additional round of funding from
Texas-based HQ Ventures. FurnitureFind.com plans to upgrade
and expand its call center and related technologies. The
amount of the investment was undisclosed.
-- Evantis, a real estate-CRM (customer relationship management)
software company, closed on a $1.2 million private financing
round from an undisclosed institutional firm. Evantis intends
to use this round of funding to increase revenues by expanding
its presence on a national scale. This round of financing may
increase to $2.4 million if Evantis achieves certain
milestones.
-- Startech Environmental (Nasdaq SC: STHK), a world leader in
hazardous waste processing, closed on a $2.4 million private
placement. Startech intends to use the proceeds principally
for marketing activities, an investor relations program,
increasing inventory, factory improvements and working
capital.
"Even though Circle Group did not participate in the funding, we are extremely pleased with the recent successes regarding our portfolio companies," said Gregory Halpern, Circle Group Chairman & 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. . "Each portfolio company accomplishment is a success for Circle Group and its shareholders. Three of our companies will be able to expand their models and continue their growth." Circle Group has nine companies in its current portfolio. To date, Circle Group has raised over $25 million for itself and its portfolio companies. About Circle Group Founded in 1994, Circle Group (OTC BB:CRGQ) is a funding and consulting source for emerging technology companies. Through its wholly owned NASD-Registered broker-dealer Broker-Dealer A person or firm in the business of buying and selling securities operating as both a broker and dealer depending on the transaction. Notes: Technically, a broker is only an agent who executes orders on behalf of clients, whereas a dealer acts as a principal , CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. Capital, Inc., Circle Group offers companies various funding solutions. Circle Group also offers in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. digital design services and business consulting solutions through CGI Total Media, Inc., and Consulting CGI. Circle Group was the first company to complete an entire end-to-end end-to-end a pattern of anastomosis in which severed ends are matched and united, in contrast with other patterns such as end-to-side or side-to-side. Usually applied to anastomosis of the intestine. capital raising campaign over the Internet without assistance from the traditional investment banking community. For more information about Circle Group, contact Daniel Ripes, VP Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. at 800-730-4880, email danr@crgq.com or visit www.crgq.com. This news release contains 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. . The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks described in the company's filings with the SEC. |
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