It has been affirmed from confidential sources that AXS-One Inc., the frontrunner provider of high performance records compliance management software solutions today announced here about its completion of the financing round with the BlueLine Partners, the renowned investment organization and William K. Jurika with a notable consequence in the issuance of $5.0 million of convertible notes. It has been stated in this regard, that the notes get matured in a time period of two years while displaying an interest at the rate of 6 percent per year and while one half of the notes are convertible into AXS-One common stock at a $1.00 conversion price, the other half of the notes are convertible at a $2.50 conversion price.

The Company according to the latest information has also issued warrants to the investors regarding the possession of an aggregate of 2,000,000 shares of common stock at an exercise price of $0.01. However, it should also be kept in consideration that if all of the warrants are exercised with the remnant of all the notes getting converted into shares of common stock, the average purchase price on all shares issued pursuant to this financing shall be $.91 per share.

In this regard, it should also be kept in consideration that the BlueLine Partners is a premiere investment organization engaged chiefly in investing in public micro-cap healthcare and technology companies. The Company excels in taking an operational or a "bottom's up" approach to investments with its central focus being directed on the value-drivers and long-term potential of the companies. The central philosophy of the firm being to take advantage of market inefficiencies and earn outsized returns when a company has experienced a misstep or due to its inherent or circumstantial disabilities is out of the favor with other investors. 

Mr. Timothy Bacci, the eminent Managing Director of BlueLine Partners, compliant with transaction documents and to the latest decision shall be appointed to the Company's Board of Directors increasing the strength to nine members. Mr. Bacci was a co-founder of Vicinity Corporation but was acquired by Microsoft Corporation in 2002 and prior to this he was also instrumental in serving as the Director in the Boards of Directors of Instant802 Networks, Inc. and Syntrio, Inc.