Perceptronics Announces Stock Purchase Agreement With Global Alpha Corporation

Apr 16, 2001, 01:00 ET from Perceptronics, Inc.

    BEVERLY HILLS, Calif., April 16 /PRNewswire/ -- Perceptronics, Inc.
 (OTC Bulletin Board:   PCTR) today announced that the Company had entered into a
 Securities Purchase Agreement with Global Alpha Corporation, a British Virgin
 Islands company ("Global Alpha"), wherein the Company agreed to sell up to
 14,616,444 shares of its common stock to Global Alpha for aggregate
 consideration of $3,226,200.
     In accordance with the Agreement, the shares are being purchased, at the
 option of Global Alpha, over a six-month period.  The first installment of
 $100,000 was paid on April 6, 2001, for 500,000 shares.  Monthly installments
 increasing to $1,332,809 on August 3, 2001, and $1,393,391 on October 2, 2001,
 may be paid at the option of Global Alpha.  Global Alpha will be conducting
 further due diligence during this period of time.  There is no assurance that
 all or any future purchases will be made by Global Alpha.
     Richard Moskowitz, chief executive officer of Perceptronics, said, "We are
 very pleased to have entered into this Securities Purchase Agreement with
 Global Alpha.  It has the potential of bringing to the Company the type of
 funding we need for development and deployment of our outstanding IC3D
 Framework technology for collaborative interaction over the Internet.  The
 Internet market for peer to peer collaboration is currently expanding rapidly,
 and we welcome the opportunity to capture a lead position together with Global
 Alpha."
     Perceptronics has filed with the SEC a Form 8-K describing in more detail
 the terms of the Agreement.  Copies may be obtained from the SEC's Web site at
 www.sec.gov or from the Company at no cost.
     Perceptronics' business is to develop, produce and market software
 products and services that allow Web site developers and owners to create
 online collaborative experiences that meet the growing demand for expanded
 multi-user interactivity on the Internet.  A description of the Company's IC3D
 Technology is found at http://ic3d.perceptronics.com, and online demos are
 available by special appointment.  For additional information, please contact
 the Company.
 
     Safe Harbor Statement:
     Statements by Mr. Richard Moskowitz, as well as the above statements
 regarding the Company's expectations about growth and marketing strategies,
 new and existing products, and future financial performance are Forward
 Looking Statements that are subject to a number of risks and uncertainties.
 These risks and uncertainties include, without limitation: (1) technological
 factors affecting the development and commercial fielding of the IC3D
 Framework; (2) competitive factors in the Internet industry, including the
 ability of the Company to compete against larger, well-funded companies; (3)
 cash flow factors affecting the Company's operations; (4) the ability of the
 Company to obtain required financing, that would affect further development
 and marketing of the IC3D Framework; and (5) competitive factors and
 contracting contingencies in the defense simulation industry and in particular
 in the international defense business.  These and other risks and
 uncertainties are discussed in greater detail from time to time in the
 Company's SEC filings and reports.
 
 

SOURCE Perceptronics, Inc.
    BEVERLY HILLS, Calif., April 16 /PRNewswire/ -- Perceptronics, Inc.
 (OTC Bulletin Board:   PCTR) today announced that the Company had entered into a
 Securities Purchase Agreement with Global Alpha Corporation, a British Virgin
 Islands company ("Global Alpha"), wherein the Company agreed to sell up to
 14,616,444 shares of its common stock to Global Alpha for aggregate
 consideration of $3,226,200.
     In accordance with the Agreement, the shares are being purchased, at the
 option of Global Alpha, over a six-month period.  The first installment of
 $100,000 was paid on April 6, 2001, for 500,000 shares.  Monthly installments
 increasing to $1,332,809 on August 3, 2001, and $1,393,391 on October 2, 2001,
 may be paid at the option of Global Alpha.  Global Alpha will be conducting
 further due diligence during this period of time.  There is no assurance that
 all or any future purchases will be made by Global Alpha.
     Richard Moskowitz, chief executive officer of Perceptronics, said, "We are
 very pleased to have entered into this Securities Purchase Agreement with
 Global Alpha.  It has the potential of bringing to the Company the type of
 funding we need for development and deployment of our outstanding IC3D
 Framework technology for collaborative interaction over the Internet.  The
 Internet market for peer to peer collaboration is currently expanding rapidly,
 and we welcome the opportunity to capture a lead position together with Global
 Alpha."
     Perceptronics has filed with the SEC a Form 8-K describing in more detail
 the terms of the Agreement.  Copies may be obtained from the SEC's Web site at
 www.sec.gov or from the Company at no cost.
     Perceptronics' business is to develop, produce and market software
 products and services that allow Web site developers and owners to create
 online collaborative experiences that meet the growing demand for expanded
 multi-user interactivity on the Internet.  A description of the Company's IC3D
 Technology is found at http://ic3d.perceptronics.com, and online demos are
 available by special appointment.  For additional information, please contact
 the Company.
 
     Safe Harbor Statement:
     Statements by Mr. Richard Moskowitz, as well as the above statements
 regarding the Company's expectations about growth and marketing strategies,
 new and existing products, and future financial performance are Forward
 Looking Statements that are subject to a number of risks and uncertainties.
 These risks and uncertainties include, without limitation: (1) technological
 factors affecting the development and commercial fielding of the IC3D
 Framework; (2) competitive factors in the Internet industry, including the
 ability of the Company to compete against larger, well-funded companies; (3)
 cash flow factors affecting the Company's operations; (4) the ability of the
 Company to obtain required financing, that would affect further development
 and marketing of the IC3D Framework; and (5) competitive factors and
 contracting contingencies in the defense simulation industry and in particular
 in the international defense business.  These and other risks and
 uncertainties are discussed in greater detail from time to time in the
 Company's SEC filings and reports.
 
 SOURCE  Perceptronics, Inc.