New York, NY (January 24, 2000) - ResQNet.com, Inc. today announced completion of a $10.7 million private placement of 8% Cumulative Convertible Preferred Stock, arranged by First Level Capital, Inc. The lead investor was Harris Venture Partners of Chicago, an affiliate of William Harris Investors, Inc. of Chicago. Also participating were Capital Consultants LLC, Alpine Venture Capital Partners through CB Corporate Finance, and a group of investors affiliated with Cramer Rosenthal McGlynn.
ResQNet.com, Inc. is a New York-based software firm specializing in intelligent web-enabling technology facilitating business-to-business and e-commerce transactions. The company’s 100% pure Java-based graphical connectivity and rejuvenation products web-enable Mainframe mainframe and AS/400 systems and automatically rejuvenate their screens as graphical user interfaces (GUIs).
“The successful completion of this private placement provides the financial resources to leverage the market awareness of ResQNet's patented rejuvenation technology in the multibillion dollar business to business market,” stated Gad Janay, Chairman and CEO. “I am delighted that these prestigious institutional investment firms share our vision of the vital role that ResQNet’s technology will continue to play in Web-enabling mainframe and AS/400 applications.”
ResQNet.com’s flagship product, ResQNet, is a thin 100% Pure Java applet that provides customizable on-the-fly graphical presentation and connectivity to legacy host applications through intranets, extranets, and the Internet. ResQNet requires no programming or scripting to add all the conveniences look and feel of the Windows environment, including mouse capability, customizable fonts and colors, macro buttons, drop down lists, valid value lists and help files, and the ability to export host data to desktop applications. ResQNet extends the boundaries of host applications, delivering data for further reformatting and integration with other sources and returning or displaying the results by connecting data from other enterprise sources into a single integrated modern looking screen.
About ResQNet.com, Inc.
ResQNet.com, Inc. is a New York-based software firm specializing in intelligent web-enabling technology. The company focuses on the trend toward eBusiness by providing on-the-fly graphical connectivity to host applications on the Internet and intranets. Its patented drag-and-drop technology allows screens to be customized quickly and easily without requiring any scripting or programming.
For more information, contact ResQNet.com at 212-482-8080 Ext. 4816, by fax at 212-482-8081, or visit the company’s Internet Web site at http://www.resqnet.com.
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