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Magic Lantern Group Inc NY (OT:GMLI)
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27 Dec 2004, 12:06 PM CST Rating: 
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Msg. 41 of 60
(Reply to 40 by Clivemore) |
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More details of recent financing.
http://www.sec.gov/Archives/edgar/data/811933/000089843204001048/magic8k.htm During December, 2004, the Company, through the private placement of equity securities, consummated the unregistered sale of 4,010,649 shares of common stock (the Shares ), $0.01 par value per share (the Common Stock ), and common stock purchase warrants to purchase an additional 4,010, 649 shares of Common Stock (the Warrants ) to certain accredited investors. The Shares and the Warrants were issued to private investors in transactions that were exempt from registration pursuant to Section 4(2) of the Securities Act of 1933 (the Securities Act ) and/or Regulation D promulgated under the Securities Act. As a result of the transactions, two term promissory note holders of the Company converted an aggregate of $750,000.00 of principal and $2,662.23 of accrued interest into 3,010,649 shares of Common Stock at a rate of $0.25 per share and received three year Warrants to purchase 3,010,649 shares of Common Stock at an exercise price of $0.40 per share. In addition, the Company issued 1,000,000 Shares to an additional investor at a price of $0.25 per share, for gross proceeds of $250,000.00, along with three year Warrants to purchase 1,000,000 shares of Common Stock at an exercise price of $0.40 per share. (Voluntary Disclosure: Position- No Position) |
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