ImagineAR

ImagineAR completed a non-brokered private placement of $350,013.37 by selling 11,667,112 units at $0.03 each; each unit consists of a common share and a non-transferable warrant exercisable at $0.05 within 36 months. The issued securities are subject to a four-month hold period and the issuance is still subject to final regulatory approval. The company intends to use the net proceeds for working capital, ongoing operations, legal fees and sales and marketing. ImagineAR shows significant financial weakness given a market capitalization of $3.24 million, a share price of $0.01, a 67% decline in revenue, a gross margin of -387% and a current ratio of 0.17. » Mere på de.investing.com

ImagineAR closed the first tranche of a non‑brokered private placement intended to raise $700,000, generating gross proceeds of $350,013.37. The company issued 11,667,112 units at $0.03 each; each unit consists of a common share and a non-transferable warrant exercisable for one additional share at $0.05 within 36 months. The securities are subject to a hold period of four months and one day; net proceeds are to be used for working capital, ongoing operations, legal fees, and sales and marketing. Additionally, ImagineAR appointed Jimmy Jeon as its new chief financial officer, replacing Leon Ho. » Mere på de.investing.com