Category: Debt

Nix Hydra Games catches up on its reporting duties with the SEC


nix hydra gamesLate filer Nix Hydra Games reported the successful completion of its $345,000 unregistered debt financing. All the securities were subscribed by five investors. First commitments were received in November 2011. The offering’s structure suggests the placement was scheduled to close before November 2012. Another unregistered securities offering which raised an estimated $5 million was completed by the company. It turns out the company reported all its past offerings within a few days and out of sequence following the closing of a $5 million financing round. According to a Wall Street Journal article* available on the company’s Facebook** page, Foundry Group is the lead investor in the round with participation from Mike Lazerow and other individuals. The company’s post-money valuation stands at around $20 million.

Nix Hydra Games designs, develops and markets video games for mobile phones. The woman-owned company is behind the game called “egg baby”, a pet-raising simulation game. The game is available for iOS and Android.

The company, headquartered in Los Angeles CA, is led by Zijun Chen (President). Nix Hydra Games kept its revenues undisclosed.
The executive team includes Naomi Juliet Ladizinsky.
The board of directors includes Seth Levine.

In a concurrent filing, Nix Hydra Games disclosed having raised $626,000 in a fully subscribed offering.
The company has raised an estimated total of $5.97 million via private unregistered security offerings.

*WSJ article
**Facebook page

Offering recap
Status: Completed
Company: Nix Hydra Games
Industry: Other Technology
Amount offered: $345,000
Amount placed: $345,000
First sale: 11-28-2011
Data as of: 05-30-2014

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Craft3 reached the $1.96 million mark raised via its debt financing


Change: offered +0% / raised +37% / placed 10%

craft3Craft3 disclosed having increased subscription by 37% on its $20 million debt financing. An additional $525,000 worth of securities was placed by the company with five investors since the company last released data six months ago. This brings to $1.96 million the amount raised from the nineteen backers who subscribed to the offering. The offering is structured as indefinite and will remain open until fully subscribed. This is the first offering filed by Craft3 under a registration exemption.

The company is a non-profit community development firm providing loans and advice to businesses that create family wage jobs, non-profits that provide essential services to their communities and municipalities and Tribal governments for community facilities and economic development efforts. The company also offers loans to individuals and other entities that do not normally have access to financing.

The company is headquartered in Ilwaco WA. Craft3 kept its revenues undisclosed.
The executive team includes Abigail Bielemeier, Crystal Green, David Oser and John Berdes.

Offering recap
Status: Intermediary close
Company: Craft3
Industry: Other
Amount offered: $20 million
Amount placed: $1.96 million
First sale: 07-01-2013
Data as of: 05-27-2014

SkillBridge disclosed information on its $1 million debt issuance


skillbridgeSkillBridge reported selling 30% of its debt issuance via a subscription which launched a little over a week ago. According to the information disclosed, twelve subscribers ponied up $300,000 out of the $1 million the company expected to raise. The offering will remain open until May 2015 while an additional $700,000 worth of securities is sold to investors. This is the first debt financing done by the company under a registration exemption.

SkillBridge develops and markets an online talent marketplace for businesses to find top-quality yet affordable business freelancers for short-term projects.

Rajeev Jeyakumar (President) leads the New York NY based company which was registered in 2013. SkillBridge kept its revenues undisclosed.
The board of directors includes Bredesen (Brett) Lewis.

Offering recap
Status: First close
Company: SkillBridge
Industry: Other
Amount offered: $1 million
Amount placed: $300,000
First sale: 05-09-2014
Data as of: 05-16-2014

$800,000 unregistered debt financing and first close reported by late filer Velo Labs


velo labsLate filer Velo Labs disclosed being in the market to raise $800,000 via debt issuance. Apparently 12% or $95,000 has already been subscribed by three investors. The non-brokered placement started a few months ago. An additional $705,000 in funding is to be raised until the offering draws to a close in February 2015. This is the first debt financing done by the company under a registration exemption.

The company is developing a wireless-enabled and solar-powered bike lock called skylock. The lock paired with a smartphone application (app) offers remote access, monitoring as well as emergency reporting features to increase bikers’ safety and their prized possession’s security. The company is planning on using skylock to develop the next generation bike share platform and enterprise fleet cloud-based solution.

Jack Al-Kahwati (CEO) leads the San Francisco CA based company which was registered in 2013. Velo Labs kept its revenues undisclosed.

The executive team includes Daniel O’connor and Gerardo Barroeta.

Offering recap
Status: First close
Company: Velo Labs
Industry: Other
Amount offered: $800,000
Amount placed: $95,000
First sale: 02-13-2014
Data as of: 05-15-2014

$1.06 million unregistered debt financing and first close reported by ABT Molecular Imaging


ABT Molecular ImagingABT Molecular Imaging disclosed being in the market to raise $1.06 million via debt issuance. Apparently 73% or $775,000 has already been subscribed by three investors. The non-brokered placement started a few days ago. Based on the offering’s structure, the company has until May 2015 to raise an extra $288,000. A total of eight unregistered securities offerings closed by the company raised an estimated $22.05 million.

The company designed a device to manufacture doses of molecular imaging drugs for positron emission tomography (PET scanning) at the point of use. PET scanners map the body by means of injectable radioactive drugs that allow PET machines to highlight areas of abnormal metabolic function indicative of disease (such as cancer, Alzheimer’s disease, cardiac abnormalities, etc.).  ABT’s Biomarker Generator enables rapid, safe and local production of PET imaging agents in a way that is more convenient, versatile and significantly less expensive than current methods available. It is currently deployed to several research and clinical sites with installations in the U.S., Europe and South America.

The company is headquartered in Louisville TN. Abt Molecular Imaging disclosed having revenues on or below $1 million.

The executive team includes Michael Templin and Peter Kingma.
The board of directors includes Dennis Dougherty and Rik Vandevenne.

The company has raised an estimated total of $22.82 million via private unregistered security offerings.

Offering recap
Status: First close
Company: ABT Molecular Imaging
Industry: Biotechnology
Amount offered: $1.06 million
Amount placed: $775,000
First sale: 05-09-2014
Data as of: 05-12-2014

Natural Food Works disclosed information on its $750,000 debt issuance


natural food worksNatural Food Works reported selling 55% of its debt issuance via a subscription which launched almost two weeks ago. According to the information disclosed, nine subscribers ponied up $415,000 out of the $750,000 the company expected to raise. $335,000 in additional funding can be raised before April 2015 based on the placement’s structure. A prior unregistered securities offering which raised an estimated $1.7 million was completed by the company.

The company is a food manufacturer for natural and organic brands. The company can manufacture extruded, enrobed products, granolas, cereals, oatmeals and mixes, dehydrated foods and pasta sauces. The company offers three certifications, organic, kosher and gluten-free.

Robert Caseria leads the Denver CO based company. Natural Food Works was registered in 2013. Natural Food Works kept its revenues undisclosed.

The board of directors includes Brian Morrow, George Peinado, Kevin Malloy, Michael Silverman, Ohsang Kwon, Richard Lappen and Ross Shell.

The company has raised an estimated total of $2.11 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Natural Food Works
Industry: Manufacturing
Amount offered: $750,000
Amount placed: $415,000
First sale: 04-27-2014
Data as of: 05-07-2014

kWh Analytics disclosed information on its $1 million debt issuance


kwh analyticskWh Analytics reported selling 56% of its debt issuance via a subscription which launched on April 18th. According to the information disclosed, ten subscribers ponied up $555,000 out of the $1 million the company expected to raise. $445,000 in additional funding can be raised before April 2015 based on the placement’s structure. This is the first debt financing done by the company under a registration exemption.

The company is an independent provider of live operating solar asset data as well as a big data predictive analytic platform. The data covers 10,000+ photovoltaic systems (arrangement of components supplying electricity), 3 million modules (packaged, connected assembly of solar cells) and 50,000+ inverters (DC to AC power converters). The historical performance data spans the residential, commercial and utility-grade segments as well as all US states with a significant solar demand. The company targets institutional investment firms as well as solar industry participants.

Richard Matsui (President and CEO) leads the San Francisco CA based company which was registered in 2012. kWh Analytics kept its revenues undisclosed.

The executive team includes Nicholas Malaya.

Offering recap
Status: First close
Company: kWh Analytics
Industry: Other Energy
Amount offered: $1 million
Amount placed: $555,000
First sale: 04-18-2014
Data as of: 05-05-2014

$175,000 financing final close reported by Laser Light Engines


laser light enginesLaser Light Engines reported the successful completion of its $175,000 unregistered debt financing. All the securities were subscribed by three investors. First commitments were received a few days ago. A total of eleven unregistered securities offerings closed by the company raised an estimated $44.78 million. The company is backed by Braemar Energy Ventures, Harris & Harris Group and IMAX.

The company is a manufacturer of ultra-high brightness laser illumination systems for performance digital projection, such as 3D cinema, large venue and rental/staging. The system replaces the traditional high pressure gas discharge lamp, and according to the company produces brighter and sharper images, with less energy use and lower costs. The company sells directly to original equipment manufacturers (OEM) and system integrators.

The company, headquartered in Salem NH, is led by John O’hara (President and CEO). Laser Light Engines kept its revenues undisclosed.

The executive team includes Ronald P West.
The board of directors includes Dennis Costello, Jiong Ma and Richard Post.

The company has raised an estimated total of $44.96 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Laser Light Engines
Industry: Other Technology
Amount offered: $175,000
Amount placed: $175,000
First sale: 05-01-2014
Data as of: 05-05-2014

Mobile ticketing developer, GlobeSherpa, disclosed information on its $1 million debt issuance


globesherpaGlobeSherpa reported selling 79% of its debt issuance via a subscription which launched almost two weeks ago. According to the information disclosed, twenty subscribers ponied up $790,000 out of the $1 million the company expected to raise. Based on the offering’s structure, the company has until April 2015 to raise an extra $210,000. Two previous unregistered financing rounds raised an estimated $2.5 million. The company is a finalist for the Oregon Technology Awards.

The company designed a ticketing platform for transit systems interested in moving to open payments, open data, and mobile fare collection with minimal infrastructure investment. The company leveraged its platform to also developed easy-to-use mobile ticketing applications for parking and events.

The company, headquartered in Portland OR, is led by Nathaniel Parker (President). GlobeSherpa kept its revenues undisclosed.
The executive team includes Michael L Gray.
The board of directors includes Carolyn Young, Nitin Rai and Scott Grout.

The company has raised an estimated total of $3.29 million via private unregistered security offerings.

Offering recap
Status: First close
Company: GlobeSherpa
Industry: Other Technology
Amount offered: $1 million
Amount placed: $790,000
First sale: 04-10-2014
Data as of: 04-23-2014

Tapcentive garnered new subscriptions and upped its offering to $1.5 million


 

Change: offered +50% / raised +207% / placed 72%

tapcentiveTapcentive‘s $1 million debt financing round increased by 50% to cap at $1.5 million. One new investor bought $725,000 worth of securities since the company last released data three weeks ago. This brings to $1.08 million the amount raised from the five backers who subscribed to the offering. The subscription is structured to close once the 28% left is fully subscribed or in about a year at the latest. This is the first time securities are issued by Tapcentive under a registration exemption.

The company is in stealth mode for now and specifics about the product to be released are not known. However, it seems the company is going to be releasing an application to manage marketing, advertising, and promotional campaigns directed toward users of mobile devices.

David Wentker (President) leads the San Francisco CA based company which was registered in 2013. Revenues were not reported.
The executive team includes Gavin Shenker, Marc Keller and Mike Lindelsee.

Offering recap
Status: Intermediary close
Company: Tapcentive
Industry: Other Technology
Amount offered: $1.5 million
Amount placed: $1.08 million
First sale: 02-03-2014
Data as of: 04-15-2014