Monday February 4, 4:05 pm ET
SANTA MONICA, Calif., Feb. 4 /PRNewswire-FirstCall/ -- MetaSwarm, Inc. (Pink Sheets: MSWM.PK -News), a provider of enterprise-level information assurance and analytic solutions, announced that it has completed a private placement with institutional investor AIS Funding, LLC of a secured convertible note in the aggregate principal amount of $1 million and warrants to purchase an aggregate of 2,500,000 shares of its common stock. The securities have not been registered.
Sichenzia Ross Friedman Ference LLP acted as counsel to the Company. First Montauk Securities Corp. acted as placement agent in connection with the offering. The placement agent's fees included warrants to purchase an aggregate of 500,000 shares of the Company's common stock. Complete details of the financing can be found on the Form 8-K as filed with the United States Securities and Exchange Commission, which is available at http://www.sec.gov.
Marvin Shannon, Chief Executive Officer of MetaSwarm said, "The completion of this financing with a quality institutional investor is a testament to the potential of our business opportunity. We are extremely pleased by this financing as it will enable us to focus on the growth of our operations in China."
About MetaSwarm, Inc.
MetaSwarm, Inc. is headquartered in California and is focused in the information technology industry. MetaSwarm specializes in personal and commercial information assurance solutions, including anti-fraud, anti-spam, and relationship analysis solutions for the Internet e-commerce markets. Specifically, MetaSwarm products provide applications for message management, message and website validation, and message and website analysis for email, cell phone text messaging (SMS), instant messaging (IM), and web pages.
AIS Funding, LLC is an institutional investor which provides working capital and mezzanine financing to companies focused on emerging markets deploying proprietary technologies.
Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectation.
Source: MetaSwarm, Inc.