ClearWorks.net Secures $5 Million Private Placement.HOUSTON--(BUSINESS WIRE)--Dec. 13. 1999-- ClearWorks.net (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CLWK) the nation's leading Fiber-To-The-Home (FTTH (Fiber To The Home) See FTTP. ) provider, announced today that it has secured a $5 Million private placement agreement with WEC WEC World Energy Council WEC World Extreme Cagefighting (mixed martial arts sport) WEC World Enduro Championship (FIM Motorcycle Event) WEC World Environment Center WEC Washington Environmental Council Asset Management LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . The private placement represents the Company's first phase of funding to address implementation of it's backlog of FTTH installations. ClearWorks.net is the nation's leading provider of Fiber-To-The-Home (FTTH) for the delivery of Bundled Digital Services, including high-speed Internet connectivity, dial tone, digital multi-channel video, on-demand video and game rental and other digital services. ClearWorks.net intends to utilize the funding for working capital, and to aggressively pursue the implementation of the Company's 20,000 homes in backlog. ClearWorks.net FTTH program has been widely accepted by builders and developers of master planned communities nationwide. "This funding bolsters ClearWorks.net ability to continue to aggressively pursue the market for Fiber-To-The-Home. We will be implementing homes we have under contract to increase our subscriber base as rapidly as possible," stated Michael McClere, 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. of ClearWorks.net. ClearWorks.net represents a trend to increase Internet and communications bandwidth to consumers nationwide. New high-bandwidth Internet applications such as IP video streaming, video on demand, and video conferencing will be supported by its fiber-based access. Because ClearWorks.net is acting in conjunction with homebuilders to pre-wire the new homes they are building, homeowners now have the opportunity to have the same kind of high-tech, commercial-quality, technology infrastructure in their homes as they have at work. ClearWorks.net pre-wires new and existing homes, commercial buildings and schools with fiber-optic and other high capacity cable, enabling them to receive the latest computing and telecommunications technology, including its exclusive package of Bundled Digital Services (sm). The Company's Bundled Digital Services (sm) packages include Internet connections at a bi-directional speed of up to 100 megabits per second (unit) megabits per second - (Mbps, Mb/s) Millions of bits per second. A unit of data rate. 1 Mb/s = 1,000,000 bits per second (not 1,048,576). E.g. Ethernet can carry 10 Mbps. , all digital telephone service, digital cable TV, on-demand video and game rentals, closed-circuit security capabilities and a community Intranet. Certain statements in this release are forward-looking. Although ClearWorks.net (the Company) believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from its expectations. Tech Technology Services L.L.C. (TTS (1) See text-to-speech. (2) (Transaction Tracking System) Software that monitors a transaction until completion. In the event of a hardware or software failure, it ensures that the database is brought back to its former state before the attempt to ) is a public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most firm employed by the Company. Statements and opinions presented here represent the views of the Company, not TTS, as the release is based on information provided by the Company. TTS and the Company believe that all information in this release has been obtained from sources considered reliable, but cannot guarantee that the statements presented herein are accurate or complete. TTS and its employees can have a position in the securities of the companies in which it distributes information for media use, and may be buying or selling securities in the course of its regular business. |
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