42% of Pixel Press Technology‘s $600,000 unregistered private offering was placed last Friday. The non-brokered equity securities were subscribed by three investors. The first close garnered $250,000. The offering will remain open until March 2015 while an additional $350,000 worth of securities is sold to investors. Until this disclosure Pixel Press Technology had raised an estimated $310,000 in unregistered securities via one previous financing round. The company raised $109,000 via a kickstarter campaign in June 2014.
The company is designing an application (app) for mobile, desktop and web that allows users to design video games. The users can create a fully customized video game by drawing it on a piece of paper, take a picture, test, design and share it. The company is developing two products. “Floors” is to design run-and-jump platformed style games like Super Mario Brothers. Floors will cost $10 and is to be release on iOS in spring 2014 and mid 2014 for Android. “Quest”, to be released in 2014, will be to design open world adventure style games.
Robin Rath (CEO) leads the St. Louis MO based company which was registered in 2013. Pixel Press Technology elected to keep its revenues undisclosed.
The executive team includes Robert Bennet.
The board of directors includes Richard Chaifetz.
The company has raised an estimated total of $560,000 via private unregistered security offerings.
Status: First close
Company: Pixel Press Technology
Industry: Other Technology
Amount offered: $600,000
Amount placed: $250,000
First sale: 03-07-2014
Data as of: 03-13-2014