Beyond Commerce, Inc. Clarifies 8-K Filed August 4, 2009 Concerning OmniReliant Holdings
August 06 2009 - 9:30AM
Marketwired
Beyond Commerce, Inc. (OTCBB: BYOC) www.beyondcommerce.com, an
E-commerce solutions, local advertising and niche social networking
company, clarifies the 8-K concerning the financing with
OmniReliant Holdings, Inc.
On July 30, 2009, Beyond Commerce, Inc. entered into a
securities purchase agreement with OmniReliant Holdings, Inc.,
pursuant to which OmniReliant Holdings agreed to purchase a series
of one year secured convertible debentures. On July 30, 2009, the
Company sold OmniReliant Holdings the first of the debentures in
the amount of $641,663 and received gross proceeds of $550,000.
The debentures are due twelve months from when they were issued
and are convertible into shares of the Company's common stock at a
conversion price of $0.70 per share.
The Company's first principal payment for these securities is
due January 28, 2010, not 2009 as disclosed in the 8-K filing.
The Company reiterates its revenue guidance for the third and
fourth quarters 2009 to be $27 million as stated in the press
release issued July 7, 2009. To view this press release, please see
the following link:
http://beyondcommerce.ir.stockpr.com/news/detail/783/beyond-commerce-inc-reports-record-2009-second-quarter-revenues.
LocalAdLink will begin selling ads in Australia and Canada
September 1, 2009, and additionally will begin selling ads in India
December 1, 2009. There are approximately 20 million independent
sales representatives in India. Through LocalAdLink's direct sales
marketing strategy, the Company anticipates developing a
significant independent sales representative base.
For further details concerning the agreement, please see the
Beyond Commerce 8-K dated August 4, 2009. To view this or other
Beyond Commerce filings please click on the following link:
http://beyondcommerce.ir.stockpr.com/sec-filings
About Beyond Commerce, Inc.
Beyond Commerce, Inc. provides best in class products, services,
and solutions by being the low cost provider in its market sector.
i-SUPPLY, www.i-SUPPLY.com, offers easy to use, fully customizable
E-commerce services, and revenue solutions for any Web site, large
or small, and hosts local ads, providing extensive reach for our
proprietary advertising partner network platform. LocalAdLink,
www.LocalAdLink.com, is a local business search directory and
advertising network that brings local advertising to geo-targeted
consumers. BOOMj, www.BOOMj.com, is the leading niche portal and
social networking site for Baby Boomers and Generation Jones.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: Except for historical information, the matters
discussed in this press release contain forward-looking statements
that involve risks and uncertainties, including but not limited to
economic, competitive, governmental and technological factors
affecting Beyond Commerce, Inc. operations, markets, products and
prices and other factors discussed in the Company's various filings
with the Securities and Exchange Commission.
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Media Contact: Tracy Jagerman (702) 951-3206 Email Contact Liz
Wong (702) 463-7000 Email Contact
Beyond Commerce (PK) (USOTC:BYOC)
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