ChineseInvestors.COM Announces Completion of Its Regulation D Offering and Stock Repurchase
LOS ANGELES, March 5, 2012 /PRNewswire/ -- Mr. Paul Dickman, CFO of ChineseInvestors.COM, an Indiana Corporation (OTCBB: CIIX) announced that the Company has achieved the full raise target of its Regulation D private placement ($2,000,000) less than one month from its initial Reg. D filing on February 6, 2012.
The Company applied a portion of the proceeds of the private placement to retire its only long term debt instrument (to a prior shareholder) fifteen months ahead of schedule as related to a common stock and options repurchase agreement initiated in January of 2010. Through two separate repurchase events (January 2010 and September 2011) the Company retired 20,761,817* shares of common stock and eliminated 2,500,000* outstanding purchase options at a cost to the Company of $470,000 over that same time period. Prior to the Regulation D offering (as filed with the SEC on February 6, 2012) this represented just over 37% of the Company's outstanding issued shares. This repurchase event reduced significantly the number of common stock shares outstanding in addition to eliminating a favorably priced options agreement.
* Calculated on a post-reverse stock split basis as executed in late September of 2011
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