Lecere Announces $350,000 Investment Commitment: Reverse Split Disallowed
11 November 2010 - 3:01PM
Lecere Corporation (Pink Sheets:LCRE) announced today that the
company has a letter of intent from an institutional investor to
invest a total of $350,000 in the company over the next 90 days.
This investor will purchase restricted preferred shares under Rule
505. The shares will be restricted from sale for a period of six
months or longer.
The company believes it will need a total of about $1.4 million
of Rule 505 investment capital from this time forward to reach
profitability in a little less than one year. This initial $350,000
equity investment should give Lecere most of the operating cash it
will need over the next three months to grow its business and raise
the remaining portion of the $1.4 million target, while
significantly reducing the need for future Rule 504
investments.
A clause in the private placement memorandum that particularly
pertains to this investment and any future Rule 505 investments
reads as follows: "It is agreed that The Company [Lecere] will not
perform a reverse split without the written consent of all
investors who participate in the purchase of restricted shares
under this Offering until the time following the end of the first
month in which The Company shows a monthly profit."
About LecereTM Corporation
Lecere Corporation (Pink Sheets:LCRE) of Portland, Oregon
develops and markets Lecere FIRMSTM, an integrated, Web-based suite
of interactive restaurant management software that runs on handheld
wireless devices. FIRMS helps restaurants reduce their
operational costs while enhancing their customers' experiences for
increased revenues and profits. Visit our website
www.lecere.com
Lecere and FIRMS are trademarks of Lecere Corporation. All
other legal marks are the property of their respective owners.
CONTACT: Lecere Corporation
Jim Morris
503-894-8947
Lecere (CE) (USOTC:LCRE)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Lecere (CE) (USOTC:LCRE)
Historical Stock Chart
Von Jun 2023 bis Jun 2024
Echtzeit-Nachrichten über Lecere Corporation (CE) (OTCMarkets): 0 Nachrichtenartikel
Weitere Lecere Corporation News-Artikel