Hollywood, CA, BBTH – bBooth, Inc. (OTCQB: BBTH), announces it has closed an oversubscribed equity funding of more than $800,000 with heavy support and participation from its existing shareholders, and has successfully closed its previously announced stock buy-back program in a series of private transactions, returning more than 8 Million shares to treasury.
“Our Board of Directors and senior management strongly believe that bBooth’s exciting new iNOTIFi technology and our prospects for growth are not reflected in the company’s current stock price,” said Rory J. Cutaia, bBooth’s President and Chief Executive Officer. “The completion of the stock repurchase program demonstrates our confidence in the strength of our business and our commitment to delivering shareholder value.”
“We believe that same level of confidence in the strength of our business has also been demonstrated by many of our existing shareholders who represented most of the participants in the significantly oversubscribed private placement, yielding proceeds of more than $800,000 closed so far this month” states Cutaia.
By returning more than 8 million shares to treasury, the company sought to protect its current shareholders by limiting the amount of dilution that might otherwise have resulted from the private placement of its equity securities. Proceeds from the influx of new capital will be used to accelerate the execution of the company’s growth strategies, including the expanded marketing of its technology products and services and the funding of a comprehensive investor relations campaign.
To view a quick demo of the company’s iNOTIFi technology, please click on the link here. For more information on iNOTIFi and other bBooth products, please email firstname.lastname@example.org.
bBooth (OTCQB: BBTH) is a Hollywood-based entertainment technology company. Through its innovative, ground-breaking technology, bBooth is the new platform for content creation and distribution, artist promotion, fan engagement and talent discovery. Its technology licensing division, bBoothTECH, offers the Company’s iNOTIFi product, a multi-platform, transmedia, push-to-screen, interactive audio/video consumer outreach application for consumer brands, entertainment industry professionals, and other business applications. For more information on bBooth, visit www.bbooth.com.
Safe Harbor Statement This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of bBooth, Inc., members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.