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From: steeledge (Rep: 877) reply to ryanhDate: 06/26/2018 10:20
Forum: MER Telemanagement Solutions - Msg #1591Thread #674017528 (Rec: 0)
Re: today is the day....//MTSL makes sense off ABIL. plus new institutional investor announced couple days ago

https://finance.yahoo.com/news/mts-submits-plan-nasdaq-regain-104400981.html

In addition, the Company has entered into a letter of intent with an institutional investor pursuant to which it has agreed to invest $1,500,000 in consideration for the Company issuing a new class of convertible preferred stock. Such issuance, which was approved by the Board of Directors of the Company on June 18, 2018, will require shareholder approval, which is expected to be obtained in the early Fall. The investor has also agreed to invest an additional $200,000 in consideration for the issuance of 175,439 of the Company's Ordinary Shares. As a result of this expected aggregate capital infusion of $1.7 million, the Company expects to regain compliance with the $2.5 million stockholders' equity requirement



Reply to ryanh - Msg #2739804 - 06/26/2018 09:55

today is the day....
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