Tagged: power

ZON Technology reports successful placement of its mezzanine securities


briggs & thatcherA $1 million unregistered mezzanine investment round initiated by Briggs & Thatcher (DBA ZON Technology) was subscribed by twelve financial backers. According to the information disclosed, the placement started on April 29th and was fully subscribed. No offering was previously initiated by the company under a registration exemption with the SEC.

The company developed and markets Powersol. Powersol is an umbrella featuring a sun-powered charging station for up to three mobile devices. The umbrella is fitted with sixteen solar panels which charge a battery tower featuring intelligent sensing charging ports. The company plans on developing other solar-powered devices.

The company was registered in 2012 and has its headquarters located in Manhattan Beach CA.

The executive team includes Cameron Wilson and Sarah Akin.
The board of directors includes Brian Healy, Harrison Clay and Robert M Akin.

Offering recap
Status: Completed
Company: Briggs & Thatcher
Industry: Retailing
Amount offered: $1 million
Amount placed: $1 million
First sale: 04-29-2014
Data as of: 05-13-2014

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Micro Grid Power Global disclosed information on its $500,000 debt issuance


micro grid power globalMicro Grid Power Global reported selling 24% of its debt issuance via a subscription which launched one month ago. According to the information disclosed, twelve subscribers ponied up $122,000 out of the $500,000 the company expected to raise. The offering has been structured to remain open until an additional $378,000 worth of securities is subscribed in full. This is the first debt financing done by the company under a registration exemption.

The company, which does business as Mera Gao Power (MGP),  builds and operates solar powered micro grids in rural, off-grid villages in Uttar Pradesh in Northern India. MGP’s micro grids were custom designed around its customers’ priority demands of lighting and mobile phone charging. By focusing on priority services, MGP was able to develop the first “lighting utility”, India’s lowest cost and first un-subsidized, commercially viable micro grid. At the end of 2012, MGP was serving over 3,500 customers across 137 villages of Uttar Pradesh.

The company, headquartered in Hansapoint Singapore, was registered in 2012. Micro Grid Power Global kept its revenues undisclosed. The board of directors includes Brian Shaad and Nikhil Jaisinghani.

Offering recap
Status: First close
Company: Micro Grid Power Global
Industry: Electric Utilities
Amount offered: $500,000
Amount placed: $122,000
First sale: 01-20-2014
Data as of: 03-14-2014

$1 million fundraising launched by wireless charging solution designer Cordlex


cordlexCordlex disclosed in an SEC filing, launching a $1 million non-brokered equity financing round. The placement is structured to close in March 2015 should the fundraising target not be reached. The company didn’t report selling securities thus far. This is the first time the company is filling a security offering under a registration exemption with the SEC.

The company develops a suite of products based on its patent-pending wireless charging technology platform. The company designed a wireless charging device for smart phones. The device includes a phone charging case and a choice of charging pads either for stationary charging or a cradle for the car. The phone just needs to be placed on the pad (regardless of position or orientation) to start recharging.

Tulgabaatar Dashdorj (Co-founder and CEO) leads the Stanford CA based company which was registered in 2013. Cordlex elected to keep its revenues undisclosed.

Offering recap
Status: Launched
Company: Cordlex
Industry: Other Technology
Amount offered: $1 million
First sale: 03-11-2014
Data as of: 03-11-2014