Ads In Motion raises $1.46 million in 8% discounted convertibles sale

Offering includes five-year warrants; $1.59 million of debentures sold

By Devika Patel

Knoxville, Tenn., Feb. 15 - Ads In Motion, Inc. completed a private placement of 8% original issue discount convertible debentures on Feb. 8, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal raised $1.46 million.

The $1.59 million in debentures are due on Aug. 8, 2012 and convert into common shares at an initial conversion price of $0.583 per share. They may be prepaid at 110 plus interest.

The investors also received five-year warrants for 2,718,692 shares. Of the warrants, 1,359,346 are each exercisable at $0.67 and the remaining 1,359,346 are exercisable at $0.73.

Based in Bonita, Calif., Ads In Motion is an advertising company.

Issuer:	Ads In Motion, Inc.
Issue:	Original issue discount convertible debentures
Amount:	$1,585,000
Maturity:	Aug. 8, 2012
Coupon:	8%
Price:	$1,458,200
Conversion price:	$0.583
Call:	At 110
Warrants:	For 2,718,692 shares
Warrant expiration:	Five years
Warrant strike prices:	$0.67 (for 1,359,346 shares), $0.73 (for 1,359,346 shares)
Settlement date:	Feb. 8
Stock symbol:	OTCBB: ADSO

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