4net Software Inc. announced that it has entered into a securities purchase agreement for a private placement of 351,918,646 common shares at $0.013497 per share for gross proceeds of $4,749,845.965062 on April 8, 2016. The transaction included participation from new accredited investors, Merlin Partners LP, a fund managed by Ancora Advisors, LLC for 240,786,442 shares for proceeds of $3,249,894.607674, Ancora Catalyst Fund LP, a fund managed by Ancora Advisors, LLC for 92,610,170 shares for proceeds of $1,249,959.46449, and existing investor, Steven N. Bronson, Chief Executive Officer of the company for 18,522,034 shares for proceeds of $249,991.892898. Upon completion, Ancora Advisors, LLC will hold 87.8% stake in the company. The company issued securities pursuant to exemption provided under Regulation D. The company reimbursed the investors for their expenses in connection with the transaction for up to $75,000.

After the completion, the company changed its name to Regional Brands Inc.