LONG BEACH, Calif.-OmniNet Media Corp., a Long Beach, Calif., developer of wireless point-of-purchase advertising and delivery networks, has entered into a three-year, $5 million equity line of credit agreement with Greystone Venture Partners LP.
OmniNet, whose stock is traded over the counter, is working on its ADHERE system, which incorporates plasma display panels, multimedia content delivery and data warehouse server technologies with wireless networks at the point of purchase.
“In addition to supporting operational requirements, this agreement will provide funding to accelerate the execution of our business plan, advance targeted marketing efforts and industry partner discussions and further the ADHERE system proof-of-concept prototype,” said Don A. Steffens, president and chief executive officer.
