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.
Follow Beamz on Facebook, Twitter and YouTube.
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.
Forward-Looking Statements
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.
SOURCE Beamz Interactive, Inc.