The Fantastic Corporation selected as one of the 50 hottest technology companies in Europe
Time Magazine Europe has named The Fantastic Corporation as one of the 50 hottest technology companies and one of the top 9 hottest software companies in Europe.
"To identify the pioneer firms of the new economy in Europe, TIME scoured the Continent for those with the most promising products, services and business models. Consulting venture capitalists, investment bankers and technology experts, we looked for companies with the biggest potential rather than the largest market cap..." writes Jennifer L. Schenker, Senior Technology Writer for TIME.
The results are based on information gathered from Credit Suisse First Boston, Durlacher Research, E-Challenge, Europe Unlimited, Forrester Research, Gartner Group, Goldman Sachs, IDC, Ovum and an independent telecoms analyst.
"This is an important endorsement of Fantastic, its technology, achievements and vision by a major international publication and industry experts", said Reto Braun, Chairman and CEO of The Fantastic Corporation. "We are well on our way for this vision to become reality", Reto Braun continues.
Operating on a secure liquidity of more than 123 million US dollars (per March 31, 2000), Fantastic's healthy financial state is allowing Fantastic to aggressively pursue its plans to expand activities in the Asia Pacific, European, and North American markets. Fantastic's 1st quarter net cash burn was 9.9 million dollars. A planned follow-on offering in the second quarter was postponed. "Since the Company has more than sufficient funds for working capital, there was no need to proceed with the offering under last month's market", said Marina Speck, CFO of Fantastic.
Major investors in Fantastic include ETF, Vice Chairman Peter Ohnemus, T-Venture (the Venture Capital arm of Deutsche Telekom) and Reuters, which together account for approx. 41 % of Fantastic's shares. "Each of our primary investors have the utmost confidence in us - since the IPO little or nothing was sold through the stock market", said Mrs. Speck.