By Sheri Kasprzak
New York, Dec. 30 - MicroTRAKgps, Inc. said it completed a previously announced private placement for $1 million.
The company sold 200 units at $5,000 each.
The units include one share and one warrant. The warrants are exercisable at $0.75 each through Dec. 5, 2006.
BarronMoore, Inc. was the placement agent.
Proceeds will be used for product manufacturing, an accelerated marketing program rollout and working capital.
Dallas-based MicroTRAKgps produces global positioning systems technology.
| Issuer: | MicroTRAKgps, Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | $1 million
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| Units: | 200
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| Price: | $5,000
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| Warrants: | One warrant per unit
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| Warrant expiration: | Dec. 5, 2006
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| Warrant strike price: | $0.75
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| Placement agent: | BarronMoore, Inc.
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| Settlement date: | Dec. 30
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| Stock price: | $1.37 at close Dec. 29
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