Soupman, Inc. announced a private placement of 3,465,000 shares of series B convertible preferred stock at $0.20 per share for gross proceeds of $693,000 in December 2014. The company will also issue a warrant to purchase 8,750,000 shares of its series B convertible preferred stock to Wealth Colony SPV II, L.P. at an exercise price of $0.002 per share which will be are convertible to the company's common stock at $0.0002 per share.

On January 8, 2015, Soupman, Inc. closed the transaction. The company has issued 500,000 shares for gross proceeds of $100,000 to three accredited investors.