By Sheri Kasprzak
New York, Aug. 23 - Non-Invasive Monitoring Systems, Inc. said it closed a private placement for $950,000.
The company sold 19 million shares at $0.05 each to a group of private investors.
The investors also received warrants for 9.5 million shares, exercisable at $0.15 each for 18 months.
The investors who purchased the shares also purchased $50,000 in promissory notes earlier this year.
The proceeds will be used for working capital.
Based in North Bay Village, Fla., Non-Invasive Monitoring makes cardio-respiratory monitors.
| Issuer: | Non-Invasive Monitoring Systems, Inc.
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| Issue: | Stock
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| Amount: | $950,000
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| Shares: | 19 million
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| Price: | $0.05
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| Warrants: | For 9.5 million shares
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| Warrant expiration: | 18 months
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| Warrant strike price: | $0.15
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| Settlement date: | Aug. 23
|
| Stock price: | $0.18 at close Aug. 23
|
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