NSI Back Pedals on InfoNice to see that the new management is communicating with each other.
Net Shepherd backpedals on huge financing announcement
Net Shepherd Inc WEB
Shares issued 69,087,485 Mar 8 close $0.25
Fri 9 Mar 2001
Mr. Bill Fogg reports
Net Shepherd regrets that it inadvertently disseminated a press release on
March 8, 2001, respecting a potential $15-million financing (see Stockwatch
of even date). The information contained in the March 8 press release
respecting the raising of equity capital is incorrect.
Due to its present financial condition, Net Shepherd has been considering
many alternatives to generate working capital. However, no commitment for
an equity financing has yet been received by Net Shepherd from any source.
In pursuing the potential alternatives, Net Shepherd had a number of
announcements prepared to deal with the different alternatives. As a result
of a miscommunication within the company, both press releases were
disseminated.
Wim Heijting, chairman of Net Shepherd and chief operating officer of
Vanenburg Group, confirmed that an additional $1.25-million (U.S.) has been
loaned to the Net Shepherd group of companies on an interim bridge
financing basis (bringing the total loaned by Vanenburg Group to the Net
Shepherd group of companies since November, 2000, to $3.75-million (U.S.)),
but that no decision has been made respecting any further financing.
Net Shepherd apologizes for the incorrect announcement. Efforts were made,
but were not successful, to retract the news release.
(c) Copyright 2001 Canjex Publishing Ltd. https://www.stockwatch.com