Bridge Financing Completed Wednesday, January 17, 2007
B-Scada, Inc. announced today the completion of its USD $400,000 Bridge Financing. The bridge is comprised of 16 Units. Each unit consists of a one (1) year, eight percent (8%) Convertible Promissory Note and Common Stock Purchase Warrants. Each note may be converted into common shares at USD $0.50 per share and the warrants may be converted into ½ shares at USD $0.75.
Francis Lorenzo, Secretary and Director of Investor Relations for Mobiform states, "B-Scada can begin to take the necessary steps to register with the SEC to become a fully-reporting company and apply for listing on the Over-the-Counter Bulletin Board. We have recently retained the accounting firm of Meyler and Company, LLC to begin our SEC audit, as well as the law firm of Guzov Ofsink, LLC to begin preparation of our Form 10 registration statement."