Investors will buy 25 million shares for 2 cents each
By Angela McDaniels
Tacoma, Wash., Feb. 24 - iTalk, Inc. entered into a $500,000 stock purchase agreement with 33 Ltd. on Feb. 18.
The investor will purchase 25 million shares for $0.02 each, according to an 8-K filing with the Securities and Exchange Commission.
The price is a 71.4% discount to the company's $0.07 closing share price on Feb. 14.
The company plans to use the proceeds for working capital purposes.
Lauderdale, Fla.-based iTalk designs, develops and integrates retail voice and data communications services.
| Issuer: | iTalk, Inc.
|
| Issue: | Common stock
|
| Amount: | $500,000
|
| Shares: | 25 million
|
| Price: | $0.02
|
| Warrants: | No
|
| Investor: | 33 Ltd.
|
| Pricing date: | Feb. 18
|
| Stock symbol: | OTCBB: TALK
|
| Stock price: | $0.07 at close Feb. 14
|
| Market capitalization: | $2.94 million
|
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