Point West Ventures, L.P. Announces Fourth Quarter Financings.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Jan. 27, 2000 Point West Ventures, L.P., a majority owned affiliate of Point West Capital Corporation (Nasdaq:PWCC PWCC Peabody Western Coal Company PWCC Pinnacle West Capital Corporation PWCC Pembroke Welsh Corgi Club (Florida) PWCC Prince of Wales Country Club PWCC Pacific Whiting Conservation Cooperative PWCC Pocatello Women's Correctional Center ) today announced that it closed five new financings during the fourth quarter of 1999: 1. $850,000 of convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". and a $2,000,000 receivable factoring line for KB Gear Interactive. KB Gear (www.kbgear.com) offers a full line of award-winning PC-Enhanced Gear that links families with technology, including drawing tablets, digital cameras and learning keyboards. Its products have received top ratings from leading publications, including PC Magazine, Family PC, and MSNBC.com. KB Gear is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. , headquartered in Eden Prairie Eden Prairie A city of eastern Minnesota, a residential suburb of Minneapolis. Population: 57,300. , MN. 2. $300,000 of convertible preferred stock of Acteva, Inc., (formerly TixToGo). In addition, Point West Ventures converted its $200,000 convertible note into preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . Acteva (www.acteva.com) is a self-service marketplace for activities where sellers (organizers) can list, promote and manage their activities, while buyers (participants) can come to sign up, invite friends, and pay by credit card for registrations, tickets, dues, sponsorships or donations. Acteva is a privately held company, headquartered in San Francisco, CA. 3. $500,000 of convertible preferred stock of Telenisus, Inc. Telenisus (www.telenisus.com) is a complete e-business Internet solutions provider, offering four service families: Virtual Private Networks (VPNs), managed firewall/security services, Web site and application hosting, and e-commerce. By developing, monitoring and managing the entire solution end-to-end, Telenisus ensures security and reliability for its customers. Telenisus is a privately held company, headquartered in Rolling Meadows, IL. 4. $250,000 of convertible preferred stock of eCommercial.com, Inc. eCommercial.com (www.ecommercial.com) is a global provider of interactive marketing automation solutions including rich-media messaging to increase the effectiveness of Internet marketing, advertising, electronic commerce and one-to-one relationship marketing. eCommercial.com's product lines include Virtual Prospector for the sending and tracking of electronic brochures, and Internet Relationship Marketing for the development of online affinity groups via rich media e-mail communications. eCommercial.com trades on the OTC bulletin board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol ECRL ECRL Extensor Carpi Radialis Longus . 5. $100,000 of convertible preferred stock of Actuality Systems, Inc. Actuality Systems (www. actuality-systems.com) is developing a device that can project realistic, volume-filling, three-dimensional imagery that can be seen from nearly any angle and without cumbersome goggles goggles, n the protective eyewear worn by dental personnel and patients during dental procedures. goggles see periocular leukotrichia. . Actuality Systems, whose chairman is Rob Ryan, founder and former 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 Ascend Communications, is a privately held company based in Reading, MA. &uot;We're very excited to be involved with these companies. As well as breaking new ground in their respective fields, they provide synergies with our strategy of providing financing and support for e-commerce companies,&uot; said Chris Rodskog, Senior Vice President of Point West Ventures. Point West Ventures is a Small Business Investment Company licensed by the Small Business Administration. Point West Ventures provides capital to small businesses (generally businesses whose tangible net worth Tangible Net Worth Total assets less intangible assets and total liabilities. Notes: In terms of a consumer, tangible net worth is the sum of all your tangible assets (cash, home, cars, etc). does not exceed $18 million and whose average net income during the preceding two years did not exceed $6 million) whose primary businesses are located in the United States. Additional information about Point West Ventures is available on the company's Web site, www.pointwestventures.com, or by calling 415/394-9467. |
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