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Digital
Learning Management Corporation Closes
$3.0 Million Private Offering Concurrent
with Merger with Publicly Traded Shell
March 10, 2004
Los Angeles, California.
FreePCSQuote.Com, Inc. (OTCBB:FPQT), today
announced that the Company had raised a
total of $3.0 million in an offering of
convertible notes through a private placement
to three closed end investment funds advised
by RENN Capital Group.
FreePCSQuote is to be
renamed Digital Learning Management Corporation
effective on the opening of business on
March 19, 2004, when a 7.86802:1 split
of the Company's Common Stock will also
be effected, as approved February 12, 2004
by the Board of Directors. Each stockholder
of record at the opening of business on
March 19, 2004 may, after that date, turn
in their stock certificates to the Company's
transfer agent for new stock certificates
at their own expense.
Zeb Bhatti, President of the Company, said, "We
are pleased to have an investment from
such well respected funds advised by RENN
Capital Group. We plan to use proceeds
of the offering for general working capital
purposes and to further our expansion plans."
Robert Pearson, Senior
Vice President of RENN Capital Group, said, "We
are very impressed with the prospects for
the private post-secondary education industry
and are pleased to have been able to join
with Digital Learning Management Corporation.
We believe their track record and strategy
position the Company for future growth." WestPark
Capital, Inc., a full service investment
banking and securities brokerage firm headquartered
in Los Angeles , California acted as the
Placement Agent for this transaction.
ABOUT DIGITAL
LEARNING MANAGEMENT CORPORATION
The Company is a provider
of private post-secondary education in
North America . It's education institutions
offer a broad range of academic programs
in Information Technology, Business & Management,
Telecommunications and other Applied Industrial
Technologies, culminating in the award
of certificates through Bachelor degrees.
With its proprietary ' CourseMate
Virtual University ' system, its learning
institutions are able to seamlessly implement
a ' Blended
Learning ' environment and provide
a powerful learning experience, whether
in a traditional classroom setting or delivered
directly to a desktop computer. CourseMate
VU is a powerful e-Learning platform that
fully integrates all aspects of learning,
resulting in a profoundly effective way
to instruct and learn. The Company is a
fully reporting public company and all
filings may be viewed at www.sec.gov .
ABOUT WESTPARK CAPITAL, INC.
WestPark Capital, Inc. is a full service
investment banking and securities brokerage
firm that serves the needs of both private
and public companies worldwide, as well
as individual and institutional investors. WestPark
is committed to forging lasting partnerships
with emerging growth companies and the
investors who back them. WestPark's
approach is to provide customized financial
solutions for virtually any need. A
complete range of investment banking and
brokerage services is available to corporate
and individual clients. WestPark's corporate
finance professionals have the depth of
experience and resources to create integrated
financing solutions for both private and
public marketplaces. Additionally,
WestPark offers an exceptional array of
private client services through its dedicated
group of financial consultants. WestPark
Capital understands the importance of strong
relationships in today's dynamic business
environment and welcomes the opportunity
to leverage this power into success for
its customers.
For more information visit www.wpcapital.com .
For further information,
please contact:
Richard Rappaport
Anthony Pintsopoulos
WestPark Capital, Inc. (310) 843-9300
1900 Avenue of the Stars, Suite 310
Los Angeles, CA 90067
http://www.wpcapital.com |
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