AMP Holding, Inc. announced that it expects to receive $0.35 million in funding.
On the same day, the company issued 500,000 common shares for gross proceeds of $100,000 in first tranche. The company also issued a promissory note for gross proceeds of $100,000. The note carries interest rate of 10% per annum and matures on January 29, 2014.
On March 13, 2013, the company issued 17,925,000 shares and 8,962,500 warrants for proceeds of $3,585,000. The company has issued total of 18,425,000 shares and 9,212,500 warrants for proceeds of $3,835,000. The company has raised a total of $3,935,000 in the transaction. The company has received $3,585,000 with a minimum amount of investment from any outside investor of $25,000 from 19 investors pursuant to exemption provided under Regulation D.