Green Automotive Company announced that it expects to receive $0.999999 million in funding from First Market Services, Inc.
Green Automotive Company announced a private placement of 121,212 series A convertible preferred shares at $8.25 per share for gross proceeds of $999,999 on November 20, 2012. Existing investor First Market Services, Inc. will subscribe to all the shares. The investor has the right to purchase shares in increments of 1,000.
After September 30, 2012, the company has received $50,000.