CAPITAL FOR COMPANIES

One of the primary businesses of our network of investment banks is to raise capital for private and publicly owned companies. We assist our network to review the existing operations of the client company, evaluate its potential status within its industry and its capital requirements. Upon completing a study, including cash flow analysis and projections, evaluation of the potential of existing and proposed lines of product/services and specific corporate goals, we recommend a specific course of action. This includes the structure of the deal (private placement, public offering, secondary offering, reverse merger), type of security (convertible debenture, convertible preferred stock, common stock, etc.), pricing, market timing and the recommended size of the deal. We introduce the client company to the funds and investment banks of our network and have the latter perform the transaction, including all the necessary activities required by the NASD. We negotiate and oversee the transaction through closing. Post-transaction, we continue to maintain a close relationship with the client company.

PRIVATE PLACEMENTS: offerings made privately to accredited investors on a negotiated basis. They are exempt from registration requirements under Federal and State Securities Laws and have certain holding period requirements.
Our Requirements (for private companies):

• Proprietary products/services with a sustainable competitive advantage in their industry sector
• A business model with realistic prospects for competitive revenue
  and earnings growth
• Capable management
• Pro-forma twelve month revenue greater than $0.75 million
• Capital needs of at least $3 million
• A one or two year exit or liquidity strategy following the Private Placement

PRIVATE INVESTMENTS IN PUBLIC EQUITIES (PIPEs): are negotiated investments made by institutional and accredited investors in publicly traded companies. These private placements are usually structured in the form convertible preferred stock or convertible subordinated notes and often include warrants. Our Requirements:

• Average daily trading volume (in Dollars) over $30,000
• Low bankruptcy risk upon financing
• Future availability of registered shares of common stock corresponding to the convertibles
  

INITIAL PUBLIC OFFERINGS (IPOs): a company's first public issue of common stock. It must be registered under Federal and State Securities Laws. The shares are legally tradable after their issuance.
Our Requirements:

• Leading market segment position due to proprietary
  products/services
• Experienced management
• A two year operating history with trailing twelve month
  revenue greater than $7 million
• A business model with prospects for continued revenue
  and earnings growth
• Feasible strategy to use IPO proceeds to take the company
  to its next development level

REVERSE MERGERS: another process for taking companies public which is faster and less expensive that the traditional IPO and also serves as an exit strategy. It involves merging a private company with a publicly traded shell (i.e. a publicly traded company without significant operations). The resulting company is then a publicly traded company with the operations of the initially private company. Our requirements for this type of transaction are similar to those for an IPO. Post-transaction, we assist the companies to raise money through private placements or secondary offerings.

PRIMARY/SECONDARY OFFERINGS: post IPO/Reverse Merger offerings. We assist clients who find it inconvenient to work with their original underwriters or who are not adequately covered by research analysts in post IPO/Reverse Merger offerings.
Our Requirements:

• Competitive market position due to proprietary products/services
• Experienced management
• A two year operating history with trailing twelve month revenue
  greater than $10 million
• Growth capital needs to take the company to its next level of development
• A business model with realistic prospects for continued
  revenue and earnings growth

For more information contact us.

INSTITUTIONAL  RESEARCH  REPORTS
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Internet Access
AOL-Time Warner	AOL
Earthlink Network	ELNK
Cable Internet Access
Excite@Home	ATHM
Internet Cable	ICBL
DSL Internet Access
Covad Communications	COVD
Wireless Internet
Echostar Communications	DISH
Metricom	MCOM
Palm	PALM
IP-Telephony
VocalTec Communications	VOCL
Internet Security
Verisign	VRSN
Internet Software Solutions
Akamai Technologies	AKAM
BroadVision	BVSN
Hear Me	HEAR
iXL Enterprises	IIXL
Openwave Systems	OPWV
Internet Portals
CNET	CNET
Yahoo!	YHOO
e-Commerce
1800Flowers.com	FLWS
Amazon.com	AMZN
eBay	EBAY
Egghead.com	EGGS
eToys	ETYS
priceline.com	PCLN
B-to-B e-Commerce
Ariba	ARBA
Commerce One	CMRC
VerticalNet	VERT
e-Communities
GeoCities(Yahoo!)	YHOO
iVillage	IVIL
Internet Advertising
DoubleClick	DCLK
e-Health
drkoop.com	KOOP
Healtheon/WebMD	HLTH
Medinex Systems	MDNX
e-Finance
E*TRADE Group	ET
Net.B@nk	NTBK
Wit Capital Group	WITC
B-to-B Transaction Processing
Digital Courier Technologies	DCTI