Digital Lava Engages Sutro & Co. as Investment Bank.Business Editors MARINA DEL REY, Calif.--(BUSINESS WIRE)--May 23, 2000 Digital Lava Inc. (Amex:DGV DGV Doppler Global Velocimetry DGV Direção Geral de Viação ), a leading communications application services provider (ASP) of streaming media solutions for the business-to-business market, today announced that Sutro & Co. has agreed to act as the lead investment banker for the company. Sutro & Co., founded in 1858, is a full-service investment banking firm and securities broker dealer, whose range of services includes retail sales, institutional sales, corporate finance and financial advisory. Sutro & Co. is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Tucker Anthony Sutro, a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE NYSE See: New York Stock Exchange :TA). Forbes Burtt, managing director of Sutro & Co., commented: "The streaming media sector is attracting a lot of attention in today's market and Digital Lava is strongly positioned due to its proprietary rich media technology and recent release of exciting new products. We look forward to assisting the company in raising capital for its continued growth." Bob Greene, chairman and 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 Digital Lava stated: "We are very pleased to be working with the highly respected professional team at Sutro & Co. They have a strong track record of success and provide us with confidence that we will achieve our financing goals. We intend to raise additional capital for the continued expansion of our company's marketing and product development efforts." About Digital Lava Digital Lava is a communications application services provider (ASP) that offers rich mixed-media software applications that seamlessly link digital video and audio content with a variety of other formats such as text, graphics, animation and Web links. Our robust in-house service offering provides a turnkey solution that delivers rich media quickly and efficiently. These solutions provide end users with a fully integrated and interactive experience on their computer desktops delivered via the Internet, intranet, extranet, DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. , CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). or any combination. The company's business-to-business solutions are employed by Fortune 1000 companies for corporate communications, sales, marketing and training applications. Digital Lava's partners and clients include Microsoft, Akamai/InterVu, RealNetworks, Cisco Systems, Dell Computers, Hewlett Packard, KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen , Lightspan, Novell, Prudential Insurance and Shell Chemical. Digital Lava has headquarters in Marina del Rey. For additional information, visit Digital Lava's Web site at http://www.digitallava.com or call 888/222-LAVA. This news release contains forward-looking statements concerning the business and products of the company. Actual results may differ from those projected or implied by such forward-looking statements depending on a number of risks and uncertainties including, but not limited to the following: development, shipment and market acceptance. Other risks inherent in the business of the company are described in Securities and Exchange Commission filings, including the company prospectus on Form SB-2. The company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release. |
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