NBDR No Borders Inc (CE)

First sentence, first graph of release should read: No Borders, Inc., (OTCBB:NBDR), a Nevada corporation, today announced that it has concluded agreements with Bridgepointe Partners, L.P. and Miller Investments, LLC for the offer and sale of up to $2,250,000 in aggregate principal amount of two-year convertible debentures. (sted $2,500,000). The corrected release reads: NO BORDERS ANNOUNCES COMPLETION OF FINANCING AGREEMENT WITH BRIDGEPOINTE PARTNERS, L.P. AND MILLER INVESTMENTS, LLC No Borders, Inc., (OTCBB:NBDR), a Nevada corporation, today announced that it has concluded agreements with Bridgepointe Partners, L.P. and Miller Investments, LLC for the offer and sale of up to $2,250,000 in aggregate principal amount of two-year convertible debentures. The parties have closed on the first two debentures for a total of $500,000. No Borders has the right to "put" to Bridgepointe up to three additional debentures each in the principal amount of $250,000 subject to No Borders having first achieved specific financial and operational deliverables and milestones, and Bridgepointe has the option to purchase up to four additional debentures each in the principal amount of $250,000 over the next two years. The Company cannot guarantee that it will attain the milestones required in order to put additional debentures to Bridgepointe nor that Bridgepointe will exercise any of its options. No Borders has agreed to file with the Securities and Exchange Commission a registration statement to register the investors' resale of the shares issuable upon conversion of the initial two debentures and exercise of the initial warrants. RM Rosenfeld, No Borders acting CEO, commented on the transaction by stating: "No Borders is very fortunate to have attracted funds from a group as honorable as Bridgepointe and its various affiliated funds, headquartered in Atlanta, Ga. The principals of the funds are very supportive and will be of immense help as we build a new senior management team and execute on our business plan. The funds now received allow No Borders to fully launch its stored value card platform and start generating revenue. With this financing arrangement, we have the security of knowing that the added funds that may be required to satisfy the anticipated growth in a short period will be available to us. This is a milestone for No Borders. The Company is now able to commence the signing of significant numbers of affiliated remittance agents in the United States and complete the consummation of agreements now being negotiated with various large organizations in both the United States and Mexico desirous of providing stored value cards to their members, employees and/or customers." About No Borders No Borders is in the business of providing a debit and stored value card platform through which a variety of financial and commercial services and products can be offered to residents of developing countries and to immigrants from those countries who reside in the United States and send money back home on a regular basis. No Borders offers significantly lower-cost money transfers and long distance telephone services, initially focusing on Mexico, El Salvador and Ecuador. According to Inter-American Development Bank, Latin American immigrants in the US sent back home an estimated $40 billion in 2004, and that growth for 2005 is expected to increase by over 20%. The Company believes that it will accelerate its penetration into this growing market, first by reducing the excessive costs currently charged to the consumer, and second by offering a full range of financial and commercial services and products to this emerging transnational market, at significantly lower prices. Certain statements in this release and other written or oral statements made by or behalf of the Company are "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward-looking statements are subject to a number of risks and uncertainties, including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties outlined in its filings with the Securities and Exchange Commission, which are incorporated herein by reference. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.