InvestorsHub Logo
Followers 4
Posts 1247
Boards Moderated 0
Alias Born 12/10/2000

Re: None

Thursday, 02/07/2002 12:01:56 PM

Thursday, February 07, 2002 12:01:56 PM

Post# of 84
NEWS....Feb.7........

February 7, 2002

James E. Shipley, president of EMB Corp. announced that EMB
Corp. has received the initial investment funds arising from a private
placement of its preferred and common stock with Paramount Financial
Group Inc.
Shipley stated: 'On November 12, 2001, we announced that we had
retained the services of Paramount Financial Group Inc. to assist EMB
in raising capital for the company. We are pleased to announce that we
have received the first tranche of an anticipated $1,000,000 that
Paramount has agreed to invest by means of its purchase of the
company's Preferred Stock. Upon receipt of the full $1,000,000,
Paramount will receive 1,000,000 shares of EMB's Series D Preferred
Stock.
'Additionally, in a separate private placement, Paramount has also
agreed to acquire 1,000,000 shares of the company's restricted Common
Stock at $1.00 per share for an additional $1,000,000, for a total of
$2,000,000.'
Shipley continued: 'We anticipated from the beginning that this
relationship would lead to EMB acquiring new investment capital and it
has. We intend to use the proceeds to expand the operations of our two
operating subsidiaries, First Guaranty Financial Corporation and
American National Mortgage, in order to maximize their profit
potential. Any new capital investment in EMB could also allow us to
continue our search for other companies, which, if acquired, would
compliment our current business plan.'
As part of the agreements by and between Paramount and EMB,
Douglas G. Gregg, president of Paramount Financial Group Inc., will be
appointed to the board of directors at its next scheduled meeting




"Aim low Sheriff...They're ride'n snakes"
as usual...JMHO..SMD