7.0. EDSR 01-13-2003 - Laserfiche WebLink

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JAN-14-03 06 :05 AM P. 03 1 1111 TransMed Corporation must complete certain tasks before it will be possible for the company to raise funding from the investment community here in the twin cities. Once the company has completed these tasks, then a new CEO and a Bridge Loan financing will begin. At a certain level of funding, the company will be seeking to move out of the owner's garage/basement in Elk Ri ver. Current Companies: i KnowledGenetica continues to make products in respect of its call center software and systems. It was recently informed of a $50 thousand loan approval from the Central Minnesota Initiative Foundation. Several investors are also close to making an investment. Those investments along with the investments already made by the Anoka Sherburne County Capital Fund and the Elk River Investment Club will become part of the one for one match required by that loan program. • Recent Graduates/Terminations: Bixby Energy has left the incubator facility as was previously reported. Also, Vertical Publishing has left on an interim basis to be nearer its customer base in the St. Paul area. Solar Attic has moved back into the founder's garage. Bixby Energy has raised over $600 thousand in its recent offering; according to the CEO and the CFO, the company's product line has been well received. It is hoped and it is likely that the company will move back into Elk River proper in the next few years; in the interim, it is helping the general level of the economy in Elk River by virtue of its location in Rogers. Solar Attic and Vertical Publishing each continue to eek out modest sales revenues. Vertical Publishing is confident that it will continue in business and eventually become a significant employer in Elk River. The present CEO indicated that he would have pulled the plug on the company at the end of December if he did not have strong convictions that success is achievable.