Current Report — Form 8-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 8-K Current Report on Form 8-K 4 13K
2: EX-3.1 Certificate of Designations 19 70K
3: EX-10.1 Securities Purchase Agreement 27 128K
4: EX-10.2 Warrant Issued to Elliot Associates, L.P. 14 58K
5: EX-10.3 Warrant Issued to Westgate International, L.P. 13 58K
6: EX-10.4 Registration Rights Agreement 20 74K
7: EX-99.1 Press Release 2 11K
EX-99.1 — Press Release
| EX-99.1 | 1st Page of 2 | TOC | ↑Top | Previous | Next | ↓Bottom | Just 1st |
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GENESISINTERMEDIA.COM
Contact: Robert Bleckman, Director of Investor Relations
Tel: (818) 902-4397 Fax: (818) 902-4302
E-mail: robertb@genesisintermedia.com
GENESISINTERMEDIA.COM CLOSES $10 MILLION IN ADDITIONAL
FINANCING FOR EXPANSION OF CENTERLINQ NETWORK
LOS ANGELES, CALIFORNIA - MAY 3, 2000 - GenesisIntermedia.com, Inc.
(NASDAQ:GENI) (PCX: GNS) (Frankfurt: GIA), a developer of Internet technologies
and Internet companies, today announced that, as part of an ongoing fundraising
program, it has completed its latest round of financing, consisting of a
placement of $4 million in Series B Convertible Preferred with institutional
investors, and $6 million in long-term debt. The funds will be used to expand
GENI's infrastructure, for general corporate purposes and to expand the
CENTERLINQ network.
Ramy El-Batrawi, Chairman of GenesisIntermedia.com, Inc., stated "The new
capital infusion will put us in a stronger market position, and gives us
additional resources to extend the CENTERLINQ brand, maintain our first-mover
position and bring additional talent into CENTERLINQ."
El Batrawi continues, "This tranche of financing helps us strengthen our
existing core competencies, as we continue to drive high-growth businesses and
technologies. Our incubation business model nurtured CENTERLINQ and gave it a
good start, and even though we are still in the investment phase with respect to
building the network, CENTERLINQ is beginning to influence the flows of retail
advertising, and achieve respectable market share. We intend to continue
building market share to make CENTERLINQ one of the most recognized and
sought-after advertising networks in the country. A continued investment of this
scope will be reflected in future quarterly results."
GenesisIntermedia.com, Inc. has historically derived its revenues from its
conventional media and interactive multimedia technologies. The implementation
of CENTERLINQ was the logical outgrowth of these core competencies, and now GENI
is working toward creating long-term shareholder value by building a
high-growth, technology investment platform to actively proliferate new
opportunities. While continuing to invest in growth-oriented areas as part of
its ongoing shareholder value initiative, the Company is likewise slowing down
investments in capital-intensive, low-margin segments of its business, such as
media placement, that do not provide enhanced long-term value for shareholders.
The Company may determine similar steps for other areas of its broad-based
business in the future.
Page 2
About CENTERLINQ
CENTERLINQ is a rapidly expanding unified network that's accessible via the
world wide web and through public access touch-screen Internet kiosks in
shopping malls. Currently reaching more than 22,000,000 consumers per month,
CENTERLINQ attracts a diverse audience with one of the largest loyalty shopping
programs in the U.S., providing coupons, directories and quick-touch access to
high-profile national advertising partners. The kiosks also provide information
regarding the preferences and interests of the consumers who utilize them,
enabling businesses to successfully target consumers likely to purchase their
products and services in the future.
CENTERLINQ was recently honored by Microsoft Corp. (NASDAQ: MSFT) with the 2000
Retail Application Developer "RAD" award for "Best Retail Headquarters
Application" in the category of Core Retail Marketing, its second such honor
within three years.
CENTERLINQ is installed in malls in the United States with an aggressive
long-term expansion program underway. Current contracts for CENTERLINQ
deployment and operation include ones with the Taubman Company, Urban Retail
Properties and Crown American Realty.
About GENI
GenesisIntermedia.com, Inc. (GENI) is a developer of Internet technologies and
Internet companies. As it has done with CENTERLINQ, GENI leverages its strength
in operations, marketing and the deployment of traditional and new media to
advance new and innovative technologies within strategically identified market
segments.
GENI's execution of the CENTERLINQ platform, the first technology deployed
within the Company's incubation model, has resulted in rapid expansion for the
network into 20 shopping malls in the United States, with 17 of those
installations occurring in the fourth quarter of 1999.
This document contains certain forward-looking statements that are
subject to risks and uncertainties. For such statements,
GenesisIntermedia.com claims the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. Actual events or results may differ
materially from those discussed in forward-looking statements as a
result of various factors discussed in GenesisIntermedia.com's Form
10(k) filed with the Securities and Exchange Commission.
Dates Referenced Herein and Documents Incorporated by Reference
| Referenced-On Page |
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| This ‘8-K’ Filing | | Date | | First | | Last | | | Other Filings |
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| Filed on: | | 5/15/00 | | | | | | | 10QSB |
| For Period End: | | 5/3/00 | | 1 |
| List all Filings |
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