CTX Virtual Technologies, Inc. (OTCPK:CTXV) announced a private placement of common shares for gross proceeds of $4,200,000 on February 3, 2012. The company will also issue option, warrant or other right to acquire another security. The securities will be issued pursuant to Regulation D of the Securities Act. Minimum investment accepted from any outside investor will be $25,000. The company may raise a total of $5,800,000 in funding. Buckman, Buckman & Reid, Inc. is serving as placement agent and will receive $420,000 as sales commission, which does not include expense allowance, placement agent warrants, reimbursement of expenses.