On May 26, 2006, the Registrant completed a private placement and issued (a) its Debentures having an aggregate original principal balance of $4,941,985, (b) its Series C Warrants exercisable, in the aggregate, for 10,589,969 shares of Common Stock, and (c) Series D Warrants exercisable, in the aggregate, for 3,529,989 shares of Common Stock (the “Debenture Offering”). The principal and accrued and unpaid interest on the Debentures convert into Common Stock at a conversion price of thirty five ($.35) cents per share. The Series C Warrants have an exercise price of forty five cents ($.45) and the Series D Warrants have an exercise price of one dollar and twenty five cents ($1.25). The total cash paid for the Securities was $4,941,985.
This stock has great PR as of lately and is going to get even better in next few weeks and months. They are going to release new order quantities soon. They also announced today the new branding campaign for its STATPATCH wireless heart monitor. "STATPATCH" represents the new brand name of the Company's flagship wireless Holter monitor device.
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