After the bell, Foldera announced that they have acquired additional funding adding up to $4 Million. Vision Opportunity Master Fund, Ltd. funded $1 million today with the option to purchase an additional $3 Million worth of shares at $0.60 a share, or up to 5 million shares of common stock.
As part of the agreement, Vision agreed to cancel the warrants held from previous financing given in October of 2006.
Foldera will file a registration statement detailing the amount of shares acquired by Vison after Foldera’s receipt of the full $4,000,000 in funding or July 31, 2007. In closing, Foldera will issue a total of 4 Million restricted shares to Vision. Issuing restricted stock in comparison to common stock shows the company’s commitment to its shareholders.
The founder of Foldera, Mr. Lusk, commented, “We are very pleased that an important institutional shareholder like Vision supports our growth plans and has confidence in our prospects.”
Let us hear your thoughts below: