4C Controls nixes $940,900 private placement of shares

By Devika Patel

Knoxville, Tenn., Oct. 14 - 4C Controls Inc. cancelled a $940,900 private placement of shares with Rudana Investment Group AG on Oct. 3, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

On March 7, 2008, Rudana paid the company $940,900 and received 470,450 common shares and 117,613 warrants, which were cancelled. The purchase price was converted into a shareholder loan.

Based in New York, 4C Controls is a holding company that provides security solutions, particularly in the areas of satellite and electronic surveillance/global access control markets and remote sensing technologies.

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