| Forecross Completes $900,000 Private Financing
June 13, 2001
Contact: Pat Dittmar (Pat@forecross.com)
|
SAN FRANCISCO, CA: Forecross® Corporation
(OTCBB: FRXX), a legacy to web and XML implementation solutions company, announced today
that it has received $900,000 in cash as part of a private financing which includes
callable warrants with an exercise value of an additional $675,000.
"This placement is very timely for Forecross," said Bernadette C.
Castello, Chief Financial Officer. "It comes at a time when the Company is
experiencing increased national and international interest in our legacy migration and XML
offerings. We will use these funds primarily to expand operations and sales capacity, as
well as for general working capital."About
Forecross
Founded in 1982 as a high-technology software development laboratory,
Forecross Corporation is dedicated to the design and development of innovative software to
re-deploy and sustain legacy applications on the Internet. Clients have included such
leading corporations as Aetna Life Insurance Company, Brown Brothers Harriman &
Company, Charles Schwab & Co., IBM Corporation and Bank of America NTSA for its
re-deployment software and services. Teaming partners of Forecross Corporation include
KPMG Consulting, Hitachi Data Systems, TRW, Inc. (BDM International), CIBER, Inc., SCB
Computer Technology, Inc., and Sapiens Americas (a subsidiary of Sapiens International).
|
|
On Behalf of the Board of Directors,
Bernadette C. Castello
Senior Vice President and CFO
Forecross Corporation
|
|
Except for historical information contained herein, the matters set
forth in this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance, market
demand, pricing, changing regulatory environment, changing economic conditions, risks in
new product and service development, the effect of the company’s accounting policies
and other risk factors detailed in the Company’s SEC and BCSC filings.
The U.S. Securities and Exchange Commission has not reviewed and does
not accept responsibility for the adequacy or accuracy of this News Release, which has
been prepared by the Company.
|
|
