By Devika Patel
Knoxville, Tenn., Sept. 29 - Advanced Voice Recognition Systems, Inc. said it plans a $5 million private placement of stock.
The company will sell 16 million common shares to Lion Share Capital, LLC.
The deal will settle in installments, starting on Nov. 9.
Proceeds will be used for expansion.
Advanced Voice Recognition Systems, based in Scottsdale, Ariz., specializes in creating interface and application solutions utilizing patented and proprietary algorithms, software and hardware for speech recognition technology.
| Issuer: | Advanced Voice Recognition Systems, Inc.
|
| Issue: | Common stock
|
| Amount: | $5 million
|
| Shares: | 16 million
|
| Warrants: | No
|
| Investor: | Lion Share Capital, LLC
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| Pricing date: | Sept. 29
|
| Stock symbol: | OTCBB: AVOW
|
| Stock price: | $0.32 at close Sept. 26
|
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