LPLHA - another PR from them.
If I read this right- a needed cash infusion.
They also are paying the broker that helped them partly with
company warrants - good to buy the stock at 15 cents. So,
I'm guessing the broker must think there is a good chance they'll see a price north of 15 cents at sometime in the future - so they can get paid.
I still like it at 9 cents here...but will hang on if it goes lower too...t
****
July 14, 2005
LocatePlus lands $7M in private placement
Boston Business Journal
LocatePlus Holdings Corp. has received $7 million in a private placement of convertible debt. The company is planning to use $4 million to retire current secured notes and the remainder for corporate purposes.
The Beverly, Mass., company, which at last report had 80 employees, sells access to databases containing vehicle and personal information. LocatePlus reported a $440,000 first quarter loss on $2.9 million in revenue, and on March 31 had $100,000 in cash and equivalents.
LocatePlus also issued warrants to investors to purchase up to 32 million shares of stock (OTCBB: LPLHA) at 15 cents per share, expiring in 2010.
LocatePlus is paying New York-based Laidlaw & Co. Ltd. $700,000 for brokering the investment, and is issuing Laidlaw a warrant to buy 4.8 million shares of stock at 15 cents.
The company's shares have fluctuated between 12 cents and 16 cents this week. |
