New Issue: MacroSolve completes $1.4 million placement of units

By Devika Patel

Knoxville, Tenn., Jan. 5 - MacroSolve, Inc. settled a $1.4 million private placement of units on Dec. 30, according to an 8-K filed Monday with the Securities and Exchange Commission.

The company sold 931,514 units of one restricted common share and one warrant at $1.50 per unit. Each warrant is exercisable at $2.25 per share until Dec. 30, 2011.

Proceeds will be used to fuel growth initiatives designed to create more high-margin recurring revenue streams for the Tulsa, Okla.-based provider of mobile data and mobile video business solutions.

Issuer:	MacroSolve, Inc.
Issue:	Units of one restricted common share and one warrant
Amount:	$1,397,271
Units:	931,514
Price:	$1.50
Warrants:	One warrant per unit
Warrant expiration:	Dec. 30, 2011
Warrant strike price:	$2.25
Settlement date:	Dec. 30
Stock symbol:	OTCBB: MCVE
Stock price:	$2.01 at close Dec. 30
Market capitalization:	$49.4 million

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