Company sells 6.25 million units of shares and warrants at $0.04 each
By Devika Patel
Knoxville, Tenn., Aug. 8 - FONU2 Inc. completed a $250,000 private placement of units with J & S Funding Group, LLC on Aug. 2, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 6.25 million units of one unregistered restricted common share and one warrant at $0.04 per unit.
Each warrant is exercisable at $0.04 for three months. The strike price is a 76.47% discount to $0.17, the Aug. 1 closing share price.
FONU2 is a technology company based in Fort Lauderdale, Fla.
| Issuer: | FONU2 Inc.
|
| Issue: | Units of one unregistered restricted common share and one warrant
|
| Amount: | $250,000
|
| Units: | 6.25 million
|
| Price: | $0.04
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three months
|
| Warrant strike price: | $0.04
|
| Investor: | J & S Funding Group, LLC
|
| Settlement date: | Aug. 2
|
| Stock symbol: | OTCBB: FONU
|
| Stock price: | $0.17 at close Aug. 1
|
| Market capitalization: | $7.77 million
|
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