3DM Worldwide - Superstock??

grahambr,

I'm relatively new to this, too (I bought at about 40p...) and see that the experts here are too busy jockeying for position to help out.

The Cornell facility is announced here (15/09/2003):





In addition 3DM is please to announce that it has reached agreement with Cornell
Capital, an equity investor that is willing to provide funding of up to £5
million at the discretion of 3DM.

This funding is via an Equity Line of Credit Agreement through Cornell Capital
Partners Offshore LP ('Cornell) (an exempted limited partnership registered in
the Cayman Islands).

The Cornell group has a growing reputation in the United States financial
markets for structuring equity participation and it has to date made available
in excess of US$600 million in this manner to publicly quoted corporations.
This is the third deal involving its offshore fund with a London-traded
corporation.

The maximum aggregate amount of the equity placement is £5m and 3DM is entitled
to draw down the equity credit line in tranches at its option.

There is no commitment fee on the facility nor are there any warrant or other
financial instruments attached. 3DM is free to use the facility entirely at its
own discretion.

As far as I'm aware, the precise terms (including pricing) are not in the public domain.
It would certainly help me if someone were able to add interpretation to this announcement.