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.
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Issue: | Units of one unregistered restricted common share and one warrant
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Amount: | $250,000
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Units: | 6.25 million
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Price: | $0.04
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Warrants: | One warrant per unit
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Warrant expiration: | Three months
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Warrant strike price: | $0.04
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Investor: | J & S Funding Group, LLC
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Settlement date: | Aug. 2
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Stock symbol: | OTCBB: FONU
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Stock price: | $0.17 at close Aug. 1
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Market capitalization: | $7.77 million
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