Deal sells 1,892,308 shares at $0.13 per share to single investor
By Devika Patel
Knoxville, Tenn., Nov. 15 - Net Profits Ten Inc. settled a $246,000 private placement of stock with a lone investor on Nov. 14, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 1,892,308 common shares at $0.13 apiece. The price per share is an 89.17% discount to the Nov. 14 closing share price of $1.20.
The Las Vegas company previously focused on marketing and distributing user-friendly interactive yearbook software for the military, clubs and organizations. It plans to relocate its offices to Bangkok as a development-stage company focusing on the design, development, manufacturing and marketing of the Moto-Meter, a device that provides metering of rides on motor scooters, motorcycles and other vehicles.
| Issuer: | Net Profits Ten Inc.
|
| Issue: | Common stock
|
| Amount: | $246,000
|
| Shares: | 1,892,308
|
| Price: | $0.13
|
| Warrants: | No
|
| Settlement date: | Nov. 14
|
| Stock symbol: | OTCBB: FARE
|
| Stock price: | $1.20 at close Nov. 14
|
| Market capitalization: | $1.04 billion
|
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