By Devika Patel
Knoxville, Tenn., Feb. 9 - Geos Communications Inc. settled a $1.92 million private placement of series F convertible preferred stock on Jan. 5, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold a total of 1,920 preferreds, which are initially convertible into 3.84 million common shares.
The investors also received warrants for 1.92 million common shares, which are exercisable at $0.625 for three years.
Steven F. Butterfield, Living Trust U/A/D invested $1.5 million; William J. Kearns Trust invested $100,000; Scott B. Butterfield and Susie Molenaar Butterfield invested $150,000; 2003 Cooper McKhann Family Trust invested $100,000; Kristi Reardon invested $10,000; Richard Dahlson invested $50,000 and Jamie Reardon invested $10,000.
The telecommunications provider is based in Roswell, Ga.
| Issuer: | Geos Communications Inc.
|
| Issue: | Series F convertible preferred stock
|
| Amount: | $1.92 million
|
| Shares: | 1,920
|
| Conversion ratio: | Into 3.84 million shares
|
| Warrants: | For 1.92 million shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.625
|
| Investors: | Steven F. Butterfield, Living Trust U/A/D (for $1.5 million); William J. Kearns Trust (for $100,000); Scott B. Butterfield and Susie Molenaar Butterfield (for $150,000); 2003 Cooper McKhann Family Trust (for $100,000); Kristi Reardon (for $10,000); Richard Dahlson (for $50,000) and Jamie Reardon (for $10,000)
|
| Settlement date: | Jan. 5
|
| Stock symbol: | OTCBB: GCMI
|
| Stock price: | $0.27 at close Jan. 5
|
| Market capitalization: | $6.48 million
|
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