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 experienced explosive growth
validating our new business model," said
Mitch Francis, CEO of both Cinema Ride,
Inc and Tix4Tonight. "Yet we recognize the importance of aligning our
company
with an investment partner that not only understands
our mission but recognizes
the dynamics and needs of an emerging growth company. What's particularly
appealing about the bridge loan structured by Advantage
Capital is that it
is
void of the toxicity and dilutive properties often
