Adelong subscribed $250,000 in April 2000 for a 10% interest in Smart News as part of a $1,500,000 seed capital raising. This subscription was completed at $0.10 per share and is expected to be followed with an initial public offering fundraising within the next 6 months, market conditions permitting.
Smart News is aiming to be a premier provider of internet investor relations services in Australia. It will focus initially on the listed company sector where it aims to deliver a personalised investor information service to those companies’ shareholders. Smart News uses the internet to quickly and cheaply deliver information, much of which is currently impractical to deliver, to investors. Smart News services improve relations between companies and existing and potential investors by both increasing and improving the flow and timing of information as well as reducing the cost of delivery.
In addition Smart News aims to optimise companies’ total internet presence through coordinated campaigns and participation in online newsgroups, bulletin boards and chat services. Smart News also advises on the regular updating of company web sites.
Revenue is earned by charging companies for these services which are provided free to investors.
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VISIT WEBSITE: www.smartnews.com.au