SANTA ROSA, Calif.,
June 27, 2012 /PRNewswire/ --
Democrasoft, Inc. (OTC: Pinksheets: DEMO) today announced the
completion of a $500,000 interim
funding private placement; most of the securities were sold to
existing investors.
The company sold a total of $500,000 of two year 10% convertible notes to
fund current operations. Payment of the notes is secured by
all of the Company's intellectual property. If all of the
notes and accrued interest are converted at the $.08 conversion price, the company would issue
approximately an additional 7,000,000 shares of its common
stock.
"We are very gratified by this show of support from those who
know us best," said Richard Lang,
CEO. "We believe that our multi-purpose Collaborize® platform and
the Collaborize Classroom® application - as well as a
new product line that we will be launching soon - collectively
provide significant growth opportunities for us."
Lang noted that during the seasonally slow late spring months,
world-wide Collaborize Classroom launches have been averaging over
450% higher each month than at the same time last year. "This
is particularly encouraging as launches generally pick up
substantially from this point forward, both because teachers are
already starting to think about the beginning of the school year
and because the company also makes presentations at important
industry events during this time of year," said Lang. Lang
reported that individual Collaborize Classroom launches just
surpassed 28,000 worldwide.
The Company also announced two significant industry
awards. The American Association of School Librarians (AASL)
has named Collaborize Classroom one of the "Top 25 Best Websites
for Teaching and Learning in 2012" for being "the best of the
best." In addition, Collaborize Classroom is a 2012 Codie
Award Finalist for Best Education Community Solution.
"These awards indicate that Collaborize Classroom is being
recognized by multiple educational organizations composed of
teachers, librarians and students using the platform every day,"
said Lang.
Collaborize Classroom (http://collaborizeclassroom.com),
available free of charge to all grade levels, gives teachers the
ability to extend in-class conversations to private and secure
online sites accessible by any Internet browser or from any iPhone,
iPad or iTouch. Teachers post topic-based lessons on any subject in
their own Collaborize Classrooms and invite their students to
participate in online group discussions, usually after school. More
than 1.75 million lessons have been delivered to students using the
Collaborize Classroom platform so far.
For more information about Collaborize Classroom, or to schedule
an interview with Democrasoft senior management, please contact
Mark Kithcart at:
mkithcart@collaborizeclassroom.com or call 888-993-8683 x 706.
About Democrasoft:
Democrasoft, Inc., headquartered in Santa Rosa, CA, is a 20-year-old public
company (OTC: PINKSHEETS: DEMO) with a history of pioneering
technology. The Company's flagship product, Collaborize®, is a
web-based solution for organizing groups with a common purpose into
powerful, decision-making communities. It is designed to empower
groups of all sizes - educators, businesses, non-profits,
organizations, governments, their members and citizens - to resolve
real problems and drive toward actual implementation of collective
solutions. Democrasoft is dedicated to facilitating a vision of
online "social networking with purpose." For more
information, please
visit http://democrasoft.com.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This
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information ("forward-looking statements"). These statements can be
identified by expressions of belief, expectation or intention, as
well as those statements that are not historical fact.
Forward-looking statements involve a number of risks, uncertainties
and assumptions that could cause actual results or events to differ
materially from those expressed or implied by the forward-looking
statements. Forward-looking statements contained in this press
release are based on our current estimates, expectations and
projections, which the company believes are reasonable as of the
current date. Actual results could differ materially from those
anticipated or implied in the forward-looking statements and as a
result undue reliance should not be placed on forward-looking
information. Additional risks and uncertainties can be found in
company's reporting documents. Forward-looking
statements are given only as at the date of this presentation and
the company disclaims any obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
SOURCE Democrasoft, Inc.