Published:
FinancialContent Raises $1 Million in Funding for Operations and StreetIQ.com
FinancialContent, Inc. (OTC BB: FCON), a leading provider of financial data and business applications to
online media and financial services companies worldwide, today announced
that it is raising $1 million to expand its operations and to grow the
StreetIQ.com podcasting and directory service.
FinancialContent has entered into a note and warrant purchase agreement
with an institutional investor for the sale of a $1 million secured
convertible note. Within thirty days, the company plans to file a
registration statement to register for sale the shares issuable under the
terms of the agreement. The company has already received the first tranche
of the funding in the amount of $350,000 and shall receive $350,000 upon
the filing of the registration statement and $300,000 upon it being
declared effective.
"We are very excited about the funding since it will provide us with the
resources to expand the development, sales and marketing of our flagship
FinancialContent product and the growth of StreetIQ.com," said Wing Yu, CEO
of FinancialContent.
A pioneer in online content integration, FinancialContent, Inc. is one of
the industry's leading content solution providers offering a full suite of
financial data deployable through an interactive online platform.
FinancialContent's flagship product Studio 3.5 is winning rave reviews for
the software's ease of use and speed of deployment. For more information
about Studio 3.5 and FinancialContent's complete suite of financial data
products, please contact info@financialcontent.com.
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing in the
integration and delivery of financial data and tools into web sites,
corporate intranets and print media. The Company's mission is to empower
its clients with the ability to customize and manage their own deployments.
With over 400 deployments worldwide, FinancialContent is rapidly growing
its client base to include banks, brokerages, credit unions, and
application service providers, as well as diversified media businesses and
Fortune 500 companies. For more information, please visit
http://www.financialcontent.com. FinancialContent is publicly traded on the
over-the-counter market under the ticker symbol FCON.
This news release may contain forward-looking statements made pursuant to
the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. While these statements are meant to convey to the public the
company's progress, business opportunities and growth prospects, readers
are cautioned that such forward-looking statements represent management's
opinion. While management believes such representation to be true and
accurate based on the information available to the company, actual results
may differ materially from those described. The company's operations and
business prospects are always subject to risks and uncertainties. Important
facts that may cause actual results to differ are set forth in
FinancialContent, Inc.'s periodic filings with the U.S. Securities and
Exchange Commission.
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Copyright © 2008, MarketWire
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Tags: ,Computers and Software:Internet, FinancialServices:CommercialandInvestmentBanking, FinancialServices:Insurance, FinancialServices:InvestmentServicesandTrading, FinancialServices:PersonalFinance, FinancialServices:RetailBanking, FinancialServices:VentureCapital, ,CA,SOUTH SAN FRANCISCO, CA
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