Private Placement Completed Wednesday, July 11, 2007
B-Scada, Inc. announced today the completion of its private placement offering through Mercer Capital, Ltd., its investment banking firm. This offering, consisting of units of common stock at $1.00 per share and warrants exercisable at $1.50 was oversubscribed with gross proceeds in excess of $3.25 million being raised. The proceeds from the offering are being used for software and graphic controls development, staffing, marketing and the costs associated with the preparation and filing of a registration statement with the SEC registering the shares and the shares underlying the warrants in the offering as well as other shares that Mobiform has agreed to register. Mobiform intends to file its registration statement by the end of the 3rd quarter 2007.
B-Scada, a leading authority on XML based multimedia technologies, produces software products, technology solutions and custom development components for WPF and XAML and offers a variety of professional services including consulting, training and graphics design. B-Scada's Aurora gives developers and designers alike the ability to easily build XAML applications and web sites today without having to manually code the markup. Aurora can be used as a stand-alone product or embedded into .NET applications. B-Scada's VantagePoint product provides customers with functional industrial control graphics such as gauges, valves, dials/knobs, meters and indicators. Diligent customer interaction provides valuable information and gives Mobiform the ability to identify features and functionality that will enhance their product and service offerings.