First close of $195,000 announced by Buoyant Concepts, does business as triple dibs, on its $800,000 offering non-brokered unit (Equity and warrants) private placement. The company placed 24% of the offering with twenty-two investors. The private placement will remain open for a year while an additional $605,000 is raised by the company. This is the first known offering initiated by the company on the US private placement market. The unit offering’s expected net proceeds will amount to $696,000 which excludes $104,000 to be paid toward officers’ salaries.
The company developed a marketing game board that leverages facebook. Users are claiming ownership on prizes offered by local merchants and the player with the most “kicks” (or votes) from other players wins the prize. The game is integrated with facebook in order to leverage the social network’s reach and for users to ask friends to kick in their favor. The game is a marketing campaign where prizes are selected based on players’ locations and sourced from local merchants.
Richard Kelsey (CEO) leads the Citrus Springs FL based company which was registered in 2012. Revenues for the latest fiscal year were not reported.
Status: First close
Company: Buoyant Concepts
Amount offered: $800,000
Amount placed: $195,000