Caliber Imaging & Diagnostics, Inc. (OTCBB:LCDX) announced a private placement of convertible promissory notes and common stock for gross proceeds of $900,000 on March 25, 2014. The notes will mature on November 20, 2014. The notes will carry an interest rate of 7% per annum payable upon maturity. The company may prepay the notes, without premium or penalty, in whole or in part, with accrued interest to the date of such prepayment on the amount prepaid. The company will issue securities pursuant to exemption provided under Regulation D. This is the bridge round of funding for the company to provide funds pending completion of a private placement of equity securities for $6,000,000.

On the same day, the company closed the first tranche for $100,000 with Rocco Maggiotto, the director of the company.

On April 2, 2014, the company closed the second tranche for $200,000 with Paul Stuka, the director of the company.

On April 17, 2014, the company closed the third tranche for $100,000 with Kevin Cronin, the director of the company.

On April 17, 2014, the company closed the fourth tranche for $100,000 with William J. Shea, the director of the company.

On June 5, 2014, the company closed the fifth tranche for $200,000. The company issued 200,000 shares at $1 per share to L. Michael Hone. The company brings the total funding to $700,000 in the transaction. The transaction will include participation from new investor Osiris Capital Management.

On July 2, 2014, Caliber Imaging & Diagnostics, Inc. closed the transaction. The company has received $200,000 in its final tranche of the transaction. The company has received total gross proceeds of $900,000 in the transaction.