For Excel and other naysayers,
In Nov they announced the following:
SAN DIEGO - Nov. 6, 2003 - New Visual Corporation (OTCBB:NVEI), an emerging provider of semiconductors to the high-speed data networking industry, announces that it has obtained short-term unsecured debt financing in an aggregate amount of $300,000. New Visual is continuing its efforts to secure long term financing. In connection with such efforts, the company and certain investors have reached a non-binding agreement-in-principle to invest between $1.5 million and $2.5 million in the company by way of convertible unsecured debt financing. The proposed investment is subject to the negotiation and execution of legally binding definitive agreements. The company anticipates that the recently completed bridge funding, which comes due by April 30, 2004, will be repaid from the proceeds of any such investment. Melton Management Ltd., an institutional investor, provided the bridge funding
And yes, they kept to that promise,
Looking good, Bob
