EAU Technologies, Inc. announced that it has received $1.33 million in funding.
Between January 2012 and September 2012, the company has received $1,325,000 from the investor.
On January 31, 2013, the company signed the agreement. The note is convertible into common shares at $0.31 per share and no principal or interest payments are due until maturity. The interest rate of 10% annually and will mature on November 30, 2013. The company also issued warrants to purchase up to 1,325,000 common shares at an exercise of $0.31 per share. The warrant expires on January 31, 2018.
On January 31, 2013, EAU Technologies, Inc. closed the transaction.