390 million common shares sold with warrants for 200 million shares
By Devika Patel
Knoxville, Tenn., June 4 - Micro Imaging Technology, Inc. completed a $410,000 private placement of stock, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 390 million common shares at about $0.001 per share. The sales began in April and continued through May.
Some of the investors also received warrants for 200 million shares. The warrants are each exercisable at $0.003.
Several of the company's creditors also converted $729,041 of debt to 231,681,832 common shares on May 31, the company reported.
The San Clemente, Calif., company is developing fluid monitoring systems for water monitoring, food processing and clinical applications in the United States.
| Issuer: | Micro Imaging Technology, Inc.
|
| Issue: | Common stock
|
| Amount: | $410,000
|
| Shares: | 390 million
|
| Price: | $0.001 (approximate)
|
| Warrants: | For 200 million shares
|
| Warrant strike price: | $0.003
|
| Announcement date: | June 4
|
| Stock symbol: | OTCBB: MMTC
|
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