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SOURCE Beamz Interactive, Inc.
Financing Provides Capital to Execute Company's Sales & Marketing Plans
SCOTTSDALE, Ariz., July 15, 2014 /PRNewswire/ -- Beamz Interactive, Inc. (OTCQB: BZIC), a leading developer of state of the art interactive music products and technology, today announced it has raised $1 million of private funding from selected accredited investors at a price of $0.05 per unit. Each unit consists of one share of restricted common stock and one three-year warrant with an exercise price of $0.05. The offering closed today and was led by management, who invested $400,000 of the total financing amount. The net proceeds of the financing will be used primarily for sales and marketing purposes.
"We are very pleased with the completion of this financing," says Charlie Mollo, Chief Executive Officer of Beamz Interactive, Inc. "It allows us to focus on key sales and marketing initiatives to execute our business plan – particularly within the Education and Healthcare market segment where our products are being well received. With the recent launch of our new products and interactive music apps, as well as our 15 new worldwide reseller and partner distribution agreements, we are well positioned to pursue this multi-billion dollar market opportunity."
Chardan Capital Markets, LLC, acted as the exclusive placement agent on this transaction.
The Beamz interactive music system is now included in hundreds of schools, senior centers, and health care facilities throughout the world. Beamz Interactive offers a simple and highly effective musical solution to help kids and individuals of all abilities and those recovering or rehabilitating interact with music and elevate their ability to focus and achieve various therapeutic benefits.
In the past few weeks, Beamz has announced expansion into the Australian and New Zealand markets through its distribution partnership with Spectronics, and its expansion into the assistive technologies market in the U.S. through its recently signed reseller agreement with Westminster Technologies.
"We really appreciate the support and counsel of the Special Equities Group at Chardan Capital, and believe their timeliness and strategic advice was outstanding," continued Mollo.
Beamz allows anyone to create and play great music in minutes by simply moving their hands through laser beams. The beauty of this ground breaking technology is that it gives users of any age, physical or cognitive ability instant access to hundreds of musical instruments, sound effects and songs, and takes only minutes to learn to play. Not only is the Beamz fun and entertaining, it enables music educators and therapists to meet developmental objectives in a classroom or therapeutic setting, and has sufficient depth to allow both amateurs and professional artists to perform, compose and create highly sophisticated interactive music.
Visit www.thebeamz.com to download Beamz latest free mobile app and learn more.
About Chardan Capital Markets
Chardan is an international investment bank headquartered in New York City, with offices in Los Angeles, San Francisco, Beijing and Sydney. Chardan provides a wide array of banking and advisory services to public and private companies and institutional investors around the world including initial Public Offering (IPOs), Private Investments in Public Equity (PIPEs), Specified Purpose Acquisition Companies (SPAC), Merger and Acquisition Advisory Services, Debt Financing, Private Equity Financing, Venture Capital Financing, Equity/Derivatives Trading, Non-Deal Road Shows, Third Party Marketing of Hedge Funds, Research and Restructuring.
About Beamz Interactive, Inc. Based in Scottsdale, AZ, Beamz Interactive, Inc. (OTCQB: BZIC) develops innovative, interactive laser controller technology used in a wide variety of music, education, healthcare and consumer applications. The Beamz enables music educators and therapists to meet developmental objectives in classrooms and therapeutic settings. This state-of-the-art music technology brings music to everyone by simply allowing users to access hundreds of sounds, instruments, vocals and music clips at one's fingertips, the Beamz allows people that have no musical background or training to play and enjoy music within minutes, yet it has the depth to enable accomplished artists and musicians to perform, compose and create highly sophisticated interactive music. Beamz Interactive's technology holds multiple patents, patents pending and trade secrets covering interactive music, software, laser-based controllers, mobile applications and related designs and devices. For more information on Beamz, please visit: www.thebeamz.com.
For comprehensive investor relations material, including fact sheets, multimedia resources, and videos regarding Beamz, please follow the appropriate link: Investor Portal, Beamz Product Video, and Investor Fact Sheet.
This press release may contain forward-looking statements that reflect the Company's current expectations and projections about future results, performance, prospects and opportunities. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required by law, the Company assumes no obligation to update publicly or to revise these forward-looking statements.
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