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Curing Senders Remorse

//May 7, 2007

Curing Senders Remorse

//May 7, 2007

Around the State – Central JerseyRED BANK BigString Corp. received $800,000 from a group of five private investors last week. The company provides an e-mail service that allows senders to render outgoing messages neither savable nor printable. It also allows senders to recall or erase messages that have already gotten to the intended recipient and to instruct messages to self-destruct after being read.

The money will mostly be used to test BigString’s products among college students and users of online dating and social-networking services, says Robert DeMeulemeester, CFO of the company. BigString will spend the cash on hiring a marketing consultant, too, he says.

In return for the funds, investors have received promissory notes that are convertible into an undisclosed amount of BigString’s common stock and warrants to purchase about 1.8 million shares of the company’s common stock.

The investors have promised another $800,000 to BigString that is dependent on the satisfaction of this round’s closing conditions.

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