The troubled Rancho Cordova, California-based 3Net Systems Inc says it has reached tentative agreement with James Cameron, of Cameron & Associates, for an infusion of $7m of new cash over the next 60 days, with the first $200,000 postal order arriving within the next week, and subject to satisfaction of a variety of conditions, a further $800,000 by the end of August; the balance of $6m is expected to be raised in a public offering tentatively scheduled for September; the financing requires a one-for-two share consolidation and will result in substantial dilution to existing shareholders; it it does not go through, the maker of local network based laboratory information systems will file bankruptcy papers.
