Sunday, October 30, 2005
LSBC firms up funding
Back in early October LSBC pulled a registration with the SEC for a financing deal with Brittany Capital. Turns out, all is well, there were a few details about the deal that the SEC did not like (LSBC can not place a "put" to Brittany if their stock drops more than 30% in a day for instance). The deal is back on. LSBC also announced the completion of what looks to be a bridge loan with Agility Capital to float the company until the bigger financing from Brittany can be put in place.
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