Tagged: offering

Applied Bioresearch, Inc. in the market with a $500,000 equity offering

Applied Bioresearch, Inc., raised 10% of its expected $500,000 non-brokered equity offering. This financing brings to $300,000 the estimated amount raised via private placement equity issuance by the company. Applied Bioresearch is looking for another eighteen investors at most.

While the product developed by the company is not known at this time, it is related to the pharmaceutical industry. The company is an affiliate of World Health Products LLC, a company which developed and markets Detoxamin, a suppository for chelation therapy. Chelation therapy involves the removal of heavy metals and other materials from the body. The company also markets a host of dietary, nutritional supplements and other wellness related products.

Applied Bioresearch, headquartered in Draper, UT., was founded in June 2011 by Kendal E. Svedeen.


Juicing restaurant chain completes $200,000 equity financing

Greenleaf Juicing Company, LLC raised $200,000 in equity from one investor. This brings the estimated amount raised to $260,000 via debt and equity issuance. No placement agent was used in conjunction with the financing events.

The company offers an extensive menu of juices, smoothies and soups made with fresh, organic fruits and vegetables sourced locally whenever available. The company has currently two locations in Portland, OR. Each juice contains two pounds of fresh fruit and vegetables nothing more. Juices cost $5.95 while soups go for $6.50. The company recently started to sell fresh cold pressed juices in 16oz bottles that last up to 72 hours.

Greenleaf, is located in Portland, OR and was founded in April 2011 by Garret Flynn and Matthew Trenkle.

Penny stock heart disease diagnostic tool developer raised $748,000 in debt

VentriPoint Diagnostics, Ltd., formerly known as Luca Capital Inc., completed a $748,000 offering of 12% non-convertible secured debentures (debentures) due July 18, 2014 with one investor. This investor is most likely BluMont Innovation PE Strategy Fund I, a fund managed by BluMont Capital. The company is trading on the TSX Venture Exchange (Canada) and over the counter (OTC) in the US. The company trades under the symbols VPT and VPTDF, its last trading price was $0.09 on both exchanges which sets its market capitalization at around CAD$12.75 million. The stock traded between CAD$0.08 and 0.16 over the last fifty-two weeks. The debentures are secured by a general security agreement against substantially all of the assets of the company’s wholly-owned subsidiary, VentriPoint, Inc., including its intellectual property, as a first charge. All debentures rank equally with one another. Further details on the debentures can be found in the press release.

This non-brokered private placement is the first of two previously announced financing events. The company expects to place USD$1 million worth of units. Each unit will consist of USD$1,100 principal amount of 3 year non-convertible secured debentures and 2,000 common shares.

VentriPoint designed and markets diagnostic tools to monitor patients with heart disease. Its main product, Angelo VMS, is a 2D ultrasound diagnostic tool for measuring right ventricle heart function. The company has a suite of applications for all major heart diseases and imaging modalities including congenital heart disease, left or right heart failure and normal hearts. VMS has been cleared for clinical use in Canada and Europe, it is currently waiting for FDA clearance in the US.

The company had insignificant revenues amounting to $374,000 for the year ending on December 31st 2012. VentriPoint, founded by Florence H. Sheehan (CSO – Chief Scientist Officer), is registered in Canada with headquarters in Seattle, WA. The company is lead by George Adams (CEO), Ellen Briant (CFO), Amol Karnick (VP – Sales), Scott Ashley (VP – R&D) and Eyal Schwartz (Chief Architect).

Radio frequency integrated circuit developer raised $500,000 in equity

Aviacomm Inc., raised $500,000 in a direct equity offering. The offering was placed with one investor.

The company develops next generation radio frequency integrated circuit (RFIC) capable of overcoming current RFIC restrictions such as limited spectral coverage and restricted channelization. The goal is to support multiple protocols and technologies up and down the frequency spectrum. The company’s complementary metal–oxide–semiconductor (CMOS) RFIC, called ARF1010EX, covers 300MHz to 2.85GHz and channels sizes from 0.5MHz to 40MHz.

Aviacomm is located in San Jose, CA, and was founded by Shih H. Mo (CEO) in August 2009. Other executives include: Dr. Hans Wang (VP  Engineering), Chenyu Chang (COO) and Dave Sumi (VP Product Marketing).

Novel pharmaceutical manufacturing company raised $265,000 via mezzanine offering

CONTINUUS Pharmaceuticals, Inc., raised 52% of its expected $500,000 mezzanine offering. Ten investors participated to the direct offering.

CONTINUUS is an early stage pharmaceutical manufacturing company that will apply new state-of-the-art small-scale process technologies that can be integrated into a seamless manufacturing process. This represents a major shift from the current batch and step-by-step industry standard. In other words it enables “on-demand” manufacturing of pharmaceuticals with major advantages in lead time, quality, and above 30% in cost reduction. The company’s technology allows to manufacture a finished product in two days using a single facility ten times smaller than the existing “batch” plants.

The company, headquartered in Boston, MA, is a spin-out of the Novartis-MIT center for continuous manufacturing. It was founded by Salvatore Mascia (CEO) in January 2012. Bayan Takizawa is head of development and operations.

Indian social and dating networking service raised $400,000 via mezzanine offering

Ignighter, Inc., does business as StepOut, raised 70% of its mezzanine offering from six investors. No dealer or broker was associated with the placement. The company which was founded in 2008 raised up to now an estimated $7.7 million in equity and mezzanine securities. A host of venture capital firms have backed the company over the years and include: GTI Capital GroupTribeca Venture Partners (formerly GSA Venture Partners), Founder Collective and Point Judith Capital.

Ignighter, Inc. despite being headquartered in New York, NY, focuses solely on the Indian market. The company started to do so in early 2011, time at which it was re-branded as StepOut. The company manages a social networking platform which allows users to find people sharing the same interest in their area.

Ignighter was founded in August 2008 and was a TechStars’ startup accelerator. The company is led by Adam Sachs (CEO), Daniel Osit (COO) and Kevin Owocki (CTO).

Social platform in the market with $750,000 mezzanine offering

Ology Media, Inc. (formerly Big Live, Inc.), raised $175,000 out of a $750,000 mezzanine offering from three investors. No placement agent was hired for the offering. It is currently unclear if Big Live, Inc. is going to be merged with Ology Media, Inc. (formerly Ology Corp. and College Media, Inc.) and for now changed its name to Ology Media, Inc. According to publicly available information both companies are still in existence and registered in Delaware under the same name. Both entities have each revenues below $1 million and raised a combined estimated $14.6 million since their foundation.

Regardless of the corporate actions, the “new” Ology Media, Inc. combines Big Live’s  patent-pending social networking technology with Ology Media’s content network and blogging community targeting millennials (formerly known as Generation Y, read: 15-24 years old). Big Live’s technology allows users to broadcast videos, host conversations and create communities from anywhere on the web, while Ology provides a meeting place (by aggregating blogs and offering original content) where users can share their passion and expand their community.

Ology, headquartered in New York, NY, was originally founded in June 2008 by Beth Haggerty and Vivian Moran. Ology.com ranked number one in growth on ComScore in Mai 2011. Big Live, headquartered in San Francisco, CA, was founded in September 2008 and headed by Jonathan “Jon” Zakin. The “merged” entity is located in New York City and according to the latest public information available is headed by Jon Zakin (President and CEO), Beth Haggerty remains an executive while sitting on the board alongside Gavin M. Cuneo  and Casey Cowell (both seed investors in Big Live), Scott Kauffman and Dominic Ianno.

Invictus Medical almost closed on its $495,000 mezzanine offering

Invictus Medical, Inc., sold $480,000 worth of mezzanine instruments to nine investors. An undisclosed portion of the gross proceeds will be paid toward executives’ salaries. No placement agent was retained as part of the offering. The company has no revenues.

The company is commercializing a cranial support device designed to prevent pressure ulcers and cranial defects, specifically deformational plagiocephaly (DP), in infants. The American Academy of Pediatrics recommended in 1992 that infants be placed on their back while sleeping in order to decrease the risk of sudden infant death syndrome (SIDS). While cases of SIDS went down, cases of DP  increased from 5 to 30%. According to a study released in 2010 (Speltz ML, Collett BR, Stott-Miller M, et al. Case-control study of neurodevelopment in deformational plagiocephaly) DP is associated with compromised neurodevelopment in infancy.

The device which won the 2011 Innotech Beta Summit, positions itself as a preventive solution to the current corrective solution (cranial orthotic therapy) for an estimated $500 million US market. It is composed of a thin, low friction and moisture reducing fiber material, which completely encloses a solution-filled durable plastic pack. This plastic pack contains a visco-elastic gel solution of a specific viscosity and volume designed to achieve maximum pressure redistribution throughout the entire surface of the skull. The materials utilized have been proven to be biocompatible and are cleared by the FDA.

The company, formerly known as Invictus Engineering, Inc., is headquartered in San Antonio, TX and is lead by Tom Roberts (CEO), Eric Eisbrenner (CFO), Chris Gilmer (COO), Daniel Mendez (CTO) and Russ Rayburn (VP – Sales). The company was founded in 2011.

Visual search tool developer placed about 50% of its equity offering

RightEye LLC, raised $450,000 via equity issuance out of a $1 million offering. Four investors participated to the offering. The company is still looking for at most twenty two additional investors. No placement agent was used in conjunction with the offering.

The company develops products combining in-house software applications with the latest in eye-tracking technology. The goal is to deliver high quality and easy-to-use visual search tools for assessment, diagnosis and training in order to improve performance and assessment.

RightEye is headquartered in Potomac, MD and was founded in April 2012 by Adam Gross (CEO) and Melissa Hunfalvay (CSO – Chief Science Officer).

PayPal incubator startup sells $635,000 worth of equity

Acquisition Sciences, Inc. raised about 90% of its $720,000 equity offering from three investors. The company estimates that $240,000 of the gross proceeds will be used toward officers’ salaries. Among the early investors are Kepha Partners and Jeremy Levitan.

The consumer driven internet company was selected to benefit from free office space at PayPal start tank, PayPal’s incubator. Acquisition Sciences is not broadcasting yet what exactly it will be offering besides saving time and money to its customers by bringing coupons codes and deals in their web browsers.

The company located in Boston, MA. was founded in November 2012 by Robert Kornblum (President and CEO).