ADVANTAGE CAPITAL DEVELOPMENT CORP. PROVIDES $500,000 BRIDGE LOAN FOR CINEMA RIDE, INC.Bridge Loan Agreement |
|
|
You are currently viewing: This Bridge Loan Agreement involves
ADVANTAGE CAPITAL DEVELOP | BRIDGE LOAN FOR CINEMA RIDE, INC. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
|
|
|
Search Bridge Loan Agreement by:
PRESS RELEASE Source: Advantage Capital Development Corp.
ADVANTAGE CAPITAL DEVELOPMENT CORP. PROVIDES $500,000
BRIDGE LOAN FOR CINEMA RIDE, INC.
- - - -
CINEMA RIDE SECURES $10 MILLION IN EQUITY FINANCING FROM INSTITUTIONAL INVESTOR
MIAMI, January 4, 2005 -- Advantage Capital Development Corp. (OTC Pink Sheets:
AVCP) announced today that it has provided a $500,000 bridge loan in the form of
a convertible debenture for Cinema Ride, Inc. (OTC Bulletin Board: MOVE).
Concurrently, Cinema Ride, Inc. announced it has received $10 million in equity
financing from an institutional investor.
Cinema Ride's core business is the sale of half-price, same-day Las Vegas show
tickets provided through Tix4Tonight, a wholly owned subsidiary. Tix4Tonight
which just celebrated its first anniversary of operations, recently announced it
has entered into a long-term lease for high-profile space at the Fashion Show
Mall in Las Vegas.
"We're quite impressed with the unique business model of Cinema Ride and
Tix4Tonight and the performance of the company in such a relatively short period
of time," said Jeffrey Sternberg, president and CEO of Advantage Capital
Development Corp. "Clearly it fits our specific criteria for investments, and we
believe it will generate a return that fits our return criteria as well. We are
looking forward to helping them with the financing required to successfully
reach their strategic initiatives."
"In just one year Tix4Tonight subsidiary has
