New Issue: Patient Access Solutions sells $2.05 million of shares in private placement

By Devika Patel

Knoxville, Tenn., July 3 - Patient Access Solutions, Inc. took in $2.05 million in a private placement of stock on June 30, according to an 8-K filed with the Securities and Exchange Commission Thursday.

The company sold 4,105,800 common shares total at $0.50 per share.

Investors also received warrants for 4,105,800 common shares, exercisable at $1.00 for three years.

Based in Hauppauge, N.Y., Patient Access Solutions has its sights set on shaking up a stodgy healthcare information technology industry through internet-based solutions.

Issuer:	Patient Access Solutions, Inc.
Issue:	Common stock
Amount:	$2,052,900
Shares:	4,105,800
Price:	$0.50
Warrants:	For 4,105,800 shares
Warrant expiration:	Three years
Warrant strike price:	$1.00
Settlement date:	June 30
Stock symbol:	OTCBB: PASO
Stock price:	$0.78 at close June 30

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