Published on 7/6/2010 in the Prospect News PIPE Daily.
New Issue: Newport Digital raises $1.26 million through stock private placement
By Marisa Wong
Madison, Wis., July 6 - Newport Digital Technologies, Inc. has raised a total of $1.26 million through the private placement of common stock, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
Between Jan. 19 and June 30, the company sold 186,988,496 shares of its common stock to a total of 30 unaffiliated third-party accredited investors.
The company said it is in the process of issuing these shares.
Newport is a Newport Beach, Calif., early stage technology solutions company.
| Issuer: | Newport Digital Technologies, Inc.
|
| Issue: | Common stock
|
| Amount: | $1,258,000
|
| Shares: | 186,988,496
|
| Warrants: | No
|
| Announcement date: | July 6
|
| Stock symbol: | OTCBB: NPDT
|
| Stock price: | $0.005 at close July 6
|
| Market capitalization: | $7.05 million
|
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