New Issue: Celsia raises $1 million from private placement of convertibles

By Sheri Kasprzak

New York, Feb. 23 - Celsia Technologies, Inc. closed a $1 million private placement of secured convertible promissory notes.

The 10% notes are due June 20, 2007. The notes automatically convert following a qualified financing, if such a financing is completed before June 20, 2007. The notes convert at the price of that financing.

Celsia, based in Miami, develops video games.

Issuer:	Celsia Technologies, Inc.
Issue:	Secured convertible promissory notes
Amount:	$1 million
Maturity:	June 20, 2007
Coupon:	10%
Price:	Par
Yield:	10%
Conversion price:	Equal to the price per share or conversion price of a qualified financing conducted before maturity
Warrants:	No
Settlement date:	Feb. 20
Stock symbol:	OTCBB: CSAT
Stock price:	$0.20 at close Feb. 20

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