(BSNS WIRE) 37Point9 Receives $500,000 Funding Commitment for Product Produ 37Point9 Receives $500,000 Funding Commitment for Product Production
Business Editors
SAN DIEGO--(BUSINESS WIRE)--Oct. 17, 2001--37Point9 (OTCBB:TSPN) announced today the signing of a funding agreement with the Goulding Trust of Northbrook, Il. The Trust has been a source of financing for numerous high tech growth companies in the United States. The terms negotiated resulted in a $500,000 funding commitment with the first distribution delivered on October 16. Randall Goulding, Trustee, indicated his strong belief in the future of 37Point9, its ability to locate and develop fledgling companies and its goal to become a significant incubator for companies with unique and desirable products. His association with a major Chicago based venture capital firm and his ability to facilitate strategic alliances was an important factor in 37Point9's acceptance of funding from the Trust. Goulding stated the uniqueness of 37Point9's subsidiaries' products intrigued him to provide added funding. He said the marketplace for Acquagiene's Ultimate Bidet and in particular the simplicity of installation and low price will be attractive to Americans who previously could not afford one of the basics of European society including those involved with home healthcare and the physically challenged. Further, he stated that SurfaceShield, a product of Cerno Holdings, with its patent pending long lasting disinfectant capabilities, would add a new dimension to the saying "a germ free environment". The ability to apply monthly, rather than daily, disinfectant that will retain an extended period of eradication of numerous microbiologicals such as bacteria, viruses, germs and fungi, will present a major cost savings not only to the general consumer but to institutions as well. 37Point9's President, Douglas Brown, said the funding would provide the capital infusion to both Acquagiene and Cerno Holdings to complete their product lines and bring them to market.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. 37Point9 disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies.
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CONTACT: 37Point9, San Diego Douglas Brown, 888/420-4042 or 619/222-2568 or Goulding Trust Randall Goulding, 847/291-4200
KEYWORD: CALIFORNIA INDUSTRY KEYWORD: MEDICAL PHARMACEUTICAL CONSUMER/HOUSEHOLD CHEMICALS/PLASTICS MANUFACTURING SOURCE: 37Point9
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