Sound Revolution may seek out $1.5 million to $2.5 million PIPE

By Sheri Kasprzak

New York, July 19 - Sound Revolution Inc. said it may head to the private placement market with an offering of up to $2.5 million and at least $1.5 million in size.

The terms of the deal have not been determined, but the company said it plans to meet its capital requirements over the next year from private placements, including equity financings.

"As of May 31, 2006, we had cash equivalents of $8,129 and we believe that we need approximately an additional $1,991,871 to meet our capital requirements over the next 12 months," said the company's latest 10-QSB filed with the Securities and Exchange Commission. "Our intention is to seek equity financing from our existing shareholders and from friends or family of our officers and directors through private placements.

"We intend to seek financing of between $1.5 million and $2.5 million to complete and launch our products into the market. We also intend to seek consultants willing to accept our common stock as partial or full consideration for services."

Sound Revolution incurred a net loss of $21,400 for the quarter ended May 31, compared with a net loss of $12,062 for the same quarter of 2005.

Based in Vancouver, B.C., Sound Revolution develops tools to distribute music over the internet.

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