theglobe.com Network Files Registration Statement for Public Offering of 4,000,000 Shares of Common Stock
NEW YORK, April 12 /PRNewswire/ -- theglobe.com (Nasdaq: TGLO) today announced that it expects to file a registration statement with the Securities and Exchange Commission relating to a proposed public offering of 4,000,000 shares of common stock, of which 2,000,000 shares will be offered by the Company and 2,000,000 shares will be offered by existing stockholders.
A Registration Statement relating to these securities is expected to be filed
with the Securities and Exchange Commission later today and will become effective
at a later date. These securities may not be sold nor may offers to buy be
accepted prior to the time the Registration Statement becomes effective. This
press release shall not constitute an offer to sell or the solicitation of an offer
to buy, nor shall there be any sale of these securities in any State in which such
offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such State.
Forward-Looking Statements: This news release contains forward-looking statements, which are based on current expectations and involve a number of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company. These factors include, but
are not limited to, the limited operating history and early development stage of the company; its lack of profitability and anticipation of continued losses; unpredictability and potential fluctuations in future revenues; risks associated with acquisitions; dependence on new product introductions achieving significant market acceptance and the uncertainties of consumer preferences; the acceptance of the Web as an advertising medium; dependence on member-generated content, risks of rapid technological change, intense competition; and the general risks associated with Internet-based businesses. Investors are also directed to consider other risks and uncertainties discussed in documents filed by the company with the Securities and Exchange Commission including, without limitation, under "Risk Factors" set forth in the company's registration statement on Form S-1. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.