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Laptop Battery Colorado-based teleconferencing services provider, ACT Teleconferencing, Inc., completed its second tranche of a $1.7 million dollar private placement.
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Microsoft Sept 21, 2004 (AXcess News) Denver - Colorado-based teleconferencing services provider, ACT
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Laptop Computers Teleconferencing, Inc. (NASDAQ: ACTT), completed its second tranche of a $1.7 million dollar private placement. According to the company, the funds are for its business plan.
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Laptop Computer In the subsequent closings, the company sold an additional 686,363 shares of common stock, together with 137,272 warrants to purchase common stock for additional gross proceeds of $755,000. Total gross proceeds of the private
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Desktop Computer placement were $1,704,000.
Notebooks The shares of common stock were priced at $1.10 each, and the warrants are exercisable until September 3, 2009 at an exercise price of $1.50 per share.
Lenovo According to a report released earlier this month, the global teleconferencing industry will report revenues of $3.7 billion this year, growing by 8% over revenues of $3.4 billion in 2003, this after the industry was sluggish for nearly 18 months following a surge in demand for teleconferencing immediately after the events of September 11, 2001. Growth will continue through 2005, with the teleconferencing industry reporting revenues of $4.0 billion, due to increased demand for conferencing services. The results and forecast were released by TeleSpan Publishing Corporation (www.telespan.com) in an edition of its weekly newsletter Electronic TeleSpan, the industry's foremost newsletter.Advertisement
Hard Drive TeleSpan's report details where there will and will not be growth, pointing out that voice-only conference calls continue to dominate with 60% of the market this year. Videoconferencing, which had a rough 2002, is regaining lost ground, although usage of videoconferencing through carrier-based service bureaus has diminished greatly, hit by a surge in demand for Webconferencing, which allows users to see and share graphic information and slides during audio conference calls. Revenues for Webconferencing will grow by 40% during 2004, and 35% in 2005.
Travelstar The report was released Sept. 9, which could have greatly aided ACT Teleconferencing's ability to sell out its private placement offering.
Gateway Shares of ACT Teleconferencing, Inc. (NASDAQ: ACTT) closed Tuesday at $1.32, up 4 cents or 3.12% on light trading volume of only 25,100 shares. The 90-day average daily trading volume was reported to be 53,916 shares. The 52-week hi/lo was reported to be $.94 to $4.08.Other communications services sector stocks closed mixed with AT&T Corp (NYSE: T) closing down 19 cents at $15.30. Raindance Communications Inc (NASDAQ: RNDC) was unchanged at $1.63. Webex Communications Inc (NASDAQ: WEBX) closed down 1 cent at $22.20.
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