InterSearch Group Provides Links to Previously Issued News Releases, Outlines Capital Structure Details Adjusted for Reverse Split.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Fourth graph, second sentence of release should read: Additionally, 2,673,569 shares of Series A preferred were converted to common at a ratio of 5 common for each share of Series A Preferred and 2,500 shares of Series B Preferred were converted at a ratio of 10 common for each share of Series B Preferred. (sted Additionally, 2,673,569 shares of Series A preferred were converted to common at a ratio of 200 common for each share of Series A Preferred and 100,000 shares of Series B Preferred were converted at a ratio of 400 common for each share of Series B Preferred.) The corrected release reads: INTERSEARCH GROUP PROVIDES LINKS TO PREVIOUSLY ISSUED NEWS RELEASES, OUTLINES CAPITAL STRUCTURE DETAILS ADJUSTED FOR REVERSE SPLIT Following the company's capital restructuring and ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors change, InterSearch Group, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :IGPN IGPN International Green Purchasing Network ) today provided links to certain company news releases relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc corporate capital structure, as well as acquisitions, previously issued during 2005. InterSearch, which owns and operates several Pay Per Click (PPC See Pocket PC, PowerPC and pay-per-click. PPC - PowerPC ) Internet search engines and provides Domain Monetization Monetization The securitization of the gross revenues of a contract. , search and technology consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" , completed a $5 million round of institutional equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. with Barron Partners LP, a New York-based private investment partnership, as part of InterSearch's capital restructuring. The transaction was announced October 11. Adjusted for the 1-for-40 reverse stock split effected on October 19, Barron purchased 6.25 million common shares of InterSearch at $.80 per share and received warrants to acquire an additional 6.25 million shares at $1.20. The additional shares are callable Callable Applies mainly to convertible securities. Redeemable by the issuer before the scheduled maturity under specific conditions and at a stated price, which usually begins at a premium to par and declines annually. by the company should Intersearch complete a public offering at a price in excess of $2.40 per share. Also adjusted for the reverse split, the capital restructuring resulted in the conversion of $1,223,405 in shareholder debt to 76,378 shares of common stock at a price of $1.60 per share. Additionally, 2,673,569 shares of Series A preferred were converted to common at a ratio of 5 common for each share of Series A Preferred and 2,500 shares of Series B Preferred were converted at a ratio of 10 common for each share of Series B Preferred. Total common shares outstanding are 25,191,157. With the reverse split, new CUSIP number CUSIP Number An identification number assigned to all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. Notes: This system is used in the U.S. and Canada. and InterSearch's ticker symbol change to IGPN, the company's previously distributed news releases - filed under its previous symbol - became unavailable on certain financial websites. The full text of those news releases can be accessed directly through the website links provided below. The news releases can also be accessed from the "newsroom" section of InterSearch's corporate website, http://www.intersearch.com. October 19, 2005 -- InterSearch Group Executes Reverse Stock Split, Begins Trading under Symbol IGPN (http://www.intersearch.com/press/1019051830.html) Oct. 12, 2005 -- InterSearch Group Acquires La Jolla Internet Properties; Deal Expands Internet Technology Consulting and Corporate Services Offerings (http://www.intersearch.com/press/1012050900.html) Oct. 11, 2005 -- InterSearch Group Completes Round of Institutional Equity Financing, Enters Agreements to Acquire Multiple Domain Portfolios That Include www.Look.com (http://www.intersearch.com/press/1011050000.html) Sept. 19, 2005 -- InterSearch Group names Robert Hoult as Executive VP of Business Development and Acquisitions (http://www.intersearch.com/press/0919051001.html) June 21, 2005 -- InterSearch Group unveils Search Equity(TM) Corporate Search Engine Technology at SIA Technology Show (http://www.intersearch.com/press/0621051109.html) April 29, 2005 -- Internet Search Firm InterSearch Group Reports Audited Financial Results for Fiscal 2004 (http://www.intersearch.com/press/0429051302.html) January 24, 2005 -- InterSearch Group Secures New $3.75 Million Line of Credit From Silicon Valley Bank (http://www.intersearch.com/press/0124051127.html) More information about InterSearch Group, Inc. can be obtained at www.InterSearch.com or by contacting the company at 415-901-0410. Except for historical information, matters discussed above are 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. within the meaning of safe-harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from projected results. Those factors include, but are not limited to, economic, competitive, governmental and technological factors affecting the Company's operations, markets, services and related products, prices or other areas. The Company undertakes no obligation to publicly release the results of any revisions to forward-looking statements. |
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