NetTalk.com, Inc. announced that it has received $0.08 million in funding from JMJ Financial
September 24, 2014
Share
Net Talk.com, Inc. (OTCPK:NTLK) announced a private placement of convertible promissory note to new investor JMJ Financial, Inc. for gross proceeds of $450,000 on August 21, 2014. The note is convertible at a conversion price equal to the lesser of $0.17 or 60% of the lowest trade price in the 25 trading days previous to the conversion date. The note will mature on August 21, 2016. If the investor repays a payment of consideration on or before 90 days from the Effective Date of that payment, the interest rate on that payment of consideration shall be 0%. If the investor does not repay a payment of consideration on or before 90 days from its effective date, a one-time interest charge of 12% shall be applied to the principal sum. The company will issue securities pursuant to exemption provided under Regulation D. The minimum investment accepted from any outside investor is $50,000. Source Capital Group will act as placement agent to the company and will receive sales commission of $2,500.
As of September 17, 2014, the company has received $50,000 in funding from one investor in the first tranche.
On September 24, 2014, NetTalk.com, Inc. (OTCPK:NTLK) closed the transaction. The company has received $83,500 in funding from one investor in the second tranche. The minimum investment accepted from any outside investor is $83,500. The company will pay sales commission of $4,000.
NetTalk.com, Inc. (netTALK) is a telephone company. The Company provides and sells residential telecommunication services. The Company's services consists of services utilizing voice over Internet protocol (VoIP) technology, session initiation protocol (SIP) technology, wireless fidelity technology, wireless maximum technology, marine satellite services technology and other similar type technologies. The Company's main offerings are analog telephone adapters (Devices) that provide connectivity for analog telephones and faxes to home, home office or corporate local area networks (LAN). The Company's devices and the telecommunication services are a solution for individuals, small businesses and telecommuters connecting to any analog telephone, fax or private branch exchange (PBX). The Company's devices provide one universal serial bus (USB) port, one Ethernet port and one analog telephone port.