New Issue: Kiwibox.Com seals $1 million placement of units with $125,000 tranche

By Devika Patel

Knoxville, Tenn., Feb. 19 - Kiwibox.Com, Inc. settled a final tranche of a $1 million private placement of units for $125,000, according to an 8-K filed Friday with the Securities and Exchange Commission.

The company raised $875,000 on Dec. 31.

The company sold a total of 40 million units of one common share and one warrant at $0.025 per unit. Each warrant is exercisable at $0.05 per share for three years.

Kiwibox.Com, formerly Magnitude Information Systems, Inc., is an ergonomic productivity software company based in Branchburg, N.J.

Issuer:	Kiwibox.Com, Inc.
Issue:	Units of one common share and one warrant
Amount:	$1 million
Units:	40 million
Price:	$0.025
Warrants:	One warrant per unit
Warrant expiration:	Three years
Warrant strike price:	$0.05
Settlement date:	Dec. 31 (for $875,000), Feb. 19 (for $125,000)
Stock symbol:	OTCBB: MAGY
Stock price:	$0.02 at close Dec. 30
Market capitalization:	$6.6 million

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