Proceeds to be used for working capital, general corporate purposes
By Toni Weeks
San Diego, May 16 - MedeFile International, Inc. settled a $300,000 private placement of stock on May 2, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 3 billion common shares at $0.0001 per share.
Proceeds will be used for working capital and general corporate purposes, as well as for strategic purposes in connection with selected acquisitions for future expansion of product and service offerings.
Cedar Knolls, N.J.-based Medefile has created a system for gathering and digitizing medical records so that individuals can have a record of all of their medical visits.
| Issuer: | MedeFile International, Inc.
|
| Issue: | Common stock
|
| Amount: | $300,000
|
| Shares: | 3 billion
|
| Price: | $0.0001
|
| Warrants: | No
|
| Pricing date: | April 27
|
| Settlement date: | May 2
|
| Stock symbol: | OTCBB: MDFI
|
| Stock price: | $0.0004 at close May 15
|
| Market capitalization: | $2.01 million
|
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