February 8th, 2012
Posted on 28. Jul, 2010 by PublicWire in Technology
(CALB.OB) Calibrus, Inc announced the completion of its final $250,000 round of Convertible Debentures.
(PublicWire.com News Release) Calibrus, Inc., located in Tempe, Arizona, a development company in Social Online Networking and Mobile Applications and leader in Third Party Verification Services (TPV), announced the completion of its final $250,000 round of Convertible Debentures. On July 23, 2010, the Company completed the sale of the balance of 50 Units for proceeds of $250,000, for total offering proceeds of $1,000,000.
(CALB.OB) Calibrus, Inc announced the completion of its final $250,000 round of Convertible Debentures.
The terms of this financing are based on the same formula for previous investment in this financing. Calibrus, Inc. sold the final 50 units consisting of five thousand dollars ($5,000) in Debentures of the Company and 2,500 common stock purchase warrants for total offering proceeds of $250,000. Under the terms, each convertible debenture is convertible into shares of common stock of the Company at the lower of $1.50 per share or the price of any additional private placement of the Company in the subsequent twelve months and bears interest at the rate of 12% per annum (the “Debentures”). Each common stock purchase warrant entitles the holder to purchase one share of the Company’s common stock for each warrant held at the warrant exercise price of the lower of (i) one dollar and ninety-five cents ($1.95) per share, or (ii) one hundred thirty percent (130%) of the per share price paid by any investor in a private placement by the Company of shares of its common stock at any time in the next twelve months. The Warrants are only exercisable if the Debentures, which are part of the underlying Unit, are converted into shares of the Company’s common stock.
CALB.OB, CALB.OTCBB, OTCBB:CALB
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(CALB.OB) Calibrus, Inc announced the completion of its final $250,000 round of Convertible Debentures.