Past & Present Portfolio
Delavaco properties is a real estate investment firm specializing in the acquisition of distressed properties throughout the United States of America.
April 4, 2012 — Delavaco Properties Inc. announced that it has completed a private placement of common shares for aggregate proceeds of $12.25 million. The offering was co-led by Delavaco Securities Inc. and PowerOne Capital Markets Limited and was financed by Delavaco Capital, Inc. and a group of institutional investors. The proceeds from the private placement will be used by Delavaco Properties to acquire additional residential properties in South Florida and for general working capital purposes.
A 316-Unit luxury mulithousing investment offering. Park Colony enjoys a strategic location along Park Road and only one-half mile south of Hollywood Boulevard, a major east/west thoroughfare in southern Broward County with an estimated traffic count of 52,000 vehicles per day. The property offers excellent access to I-95, Florida’s Turnpike, I-595 and Fort Lauderdale International Airport. Park Colony is located within 20 minutes of both Broward and Miami-Dade counties’ most popular destinations. Nearby attractions include the following: Hollywood Beach Broadwalk, Village at Gulfstream Park, shopping and casino.
Retail & Consumer Products
American Apparel is a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel based in downtown Los Angeles, California. As of March 28, 2011, American Apparel had approximately 10,000 employees and operated 273 retail stores in 20 countries, including the United States, Canada, Mexico, Brazil, United Kingdom, Ireland, Austria, Belgium, France, Germany, Italy, the Netherlands, Spain, Sweden, Switzerland, Israel, Australia, Japan, South Korea and China. American Apparel also operates a leading wholesale business that supplies high quality T-shirt and other casula wear to distributors and screen printers. In additional to its retail stores and wholesales operations, American Apparel operates an online retail e-commerce website at http://www.americanapparel.com.
Established in 2013, Aphria is owned and operated by highly experienced greenhouse growers who have been growing flowers and vegetables since 1943. Our experience, proven growing methods, and advanced facilities and systems enable us to grow the highest quality medical marijuana available in Canada.
The design and construction of our world-class greenhouse facilities provide the perfect growing environment for medical marijuana. The glass ceilings of our greenhouses allow our plants to benefit from the natural rays of the sun, while protecting them from harsh weather and harmful pests, the highly advanced control systems within our greenhouses maintain optimal temperature, humidity, light, and C02 levels for growing medical marijuana.
We grow all of our plants without the use of pesticides, and we use a computerized drip irrigation system to ensure that each individual plant receives the exact amount of water and nutrients necessary for it to thrive. On the chance that unwanted pests find their way into our enclosed ecosystem, we use a unique natural biological pest management system that uses good bugs to eliminate any bad bugs that might harm our plants.
Breaking Data (formerly Sprylogics)
Breaking Data Corp. is a technology provider of semantic search, machine learning and natural language processing ("NLP"). The Company's newest app, BreakingSports, utilizes semantic machine learning and NLP to track social media in a fully automated, real-time manner for significant sports information and events and distributes summarized information through real-time push notifications to consumers. The Company also enables mobile application providers to generate revenue into their apps via its "Poynt-Enabled" SDK and owns Poynt, a local mobile search app.
Gaming Nation was created to bring the strongest and most recognized online gaming brands together in one powerful and elite portfolio. It is the company’s belief that strategic industry consolidation will provide a more robust and enriching experience for gaming enthusiasts, and offer maximum value to acquired companies and Gaming Nation shareholders. Through an aggressive and tactical strategy of acquiring existing and successful online gaming brands, the company is positioning itself to become the world’s preferred platform for online gaming.
Jamba, Inc. Completes $35 Million Convertible Preferred Stock Sale
EMERYVILLE, Calif.--Jun. 16, 2009-- Jamba, Inc. (NASDAQ:JMBA; NASDAQ:JMBAU; NASDAQ:JMBAW) today announced that it has completed its previously announced sale of $35.0 million in convertible preferred stock. The convertible preferred stock becomes redeemable by Jamba, Inc. at the election of the purchasers in June 2016 unless converted earlier and includes an 8% annual dividend. The preferred stock is convertible into common shares at a price of $1.15 per share.
The funding was led by a $19.55 million investment by Mistral Equity Partners, a private equity fund focused on consumer products and services companies, with the remaining $15.45 million investment made by a company controlled by the Serruya family, a successful entrepreneurial Canadian-based family.
Effective upon the closing of the transaction, Andrew R. Heyer, Beth L. Bronner, and Michael Serruya joined the Board of Directors.
Andrew R. Heyer
Mr. Heyer is the Chief Executive Officer and a Managing Director of Mistral Equity Partners. Mr. Heyer currently serves on the Board of Directors of The Hain Celestial Group, Inc., Shearer's Foods, Inc., and El Pollo Loco, Inc. He was previously Vice Chairman of CIBC World Markets and a founding partner of Trimaran Capital Partners. Mr. Heyer's background and previous board experiences with nationally recognized brands will be a valuable asset as the Company continues to transform and grow the Jamba brand.
Beth L. Bronner
Ms. Bronner is a Managing Director of Mistral Equity Partners. Ms. Bronner currently serves on the Board of Directors for Assurant, Inc. and The Hain Celestial Group, Inc. She also serves on the boards of several not-for-profit organizations. Ms. Bronner is a senior business leader with an outstanding track record delivering strong, profitable revenue and market share growth for marquee brands including Jim Beam, Revlon, Nabisco, AT&T, Häagen-Dazs, and Citibank. She has also demonstrated success in change management, business turnarounds, organization restructuring, and high-performance team building. Ms. Bronner brings a breadth of experience in building strong brands and exceptional organizational development expertise which will serve Jamba well in the achievement of its long-term objectives.
Michael Serruya co-founded CoolBrands International Inc. in 1986 and has been its Chief Executive Officer and President since November 17, 2006. He serves as Chairman of CoolBrands International Inc. and as Chairman of Yogen Früz World Wide Incorporated. Mr. Serruya brings a keen understanding of franchise development and business management, both of which are areas of central importance to Jamba's strategic plan.
Details of the transaction can be found in the Company's current report on Form 8-K filed with the Securities and Exchange Commission on June 3, 2009 and the Form 8-K to be filed in connection with the closing of the transaction.
About Jamba, Inc.
Jamba, Inc. (Nasdaq: JMBA) (Nasdaq: JMBAU) (Nasdaq: JMBAW) is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE® stores. Founded in 1990, Jamba Juice is a leading restaurant retailer of healthy lifestyle food and beverage offerings, including great tasting fruit smoothies, juices, teas, hot oatmeal made with organic, steel cut oats, and baked goods. As of April 21, 2009, JAMBA JUICE had 732 locations consisting of 499 company-owned and operated stores and 233 franchise stores. For the nearest location or a complete menu, visit the JAMBA JUICE website at www.jambajuice.com or call 1-866-4R-FRUIT.
Kahala's vision is to be the largest franchise company in the world by being the best franchisor in the industry. Our vision is not rooted in growth. Instead, it is our aspiration to be the best franchisor to our franchise community, and if that remains our top priority, our growth will happen naturally both domestically and internationally through concept development, existing concept growth and future acquisitions.
At Kahala, our community shares the belief that business decisions should be made with the same set of core values that we live our daily lives by. When we follow these basic guidelines, we enjoy the benefits of fulfilling relationships and a strong franchise community.
Kalytera (TSXV: KALY) is pioneering the development of a next generation of cannabinoid therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of novel cannabinoid medicines for a range of important unmet medical needs.
Kalytera is focused first on developing a new class of proprietary cannabidiol (“CBD”) therapeutics. CBD is a remarkable compound that has shown activity against a number of pharmacological targets. However, there are limitations associated with natural CBD, including its poor oral bioavailability and short half-life. Kalytera is developing innovative CBD formulations and prodrugs in an effort to overcome these limitations, and to target specific disease sites within the body. Kalytera intends to file composition of matter and method of use patents covering its novel inventions, with the goal of limiting future competition.
Keek is a free online social networking service that enables its users to upload video status updates, which are called "keeks". Users can post keeks to the keek website using a webcam or via the Keek mobile apps for Android or iPhone. Users can also reply back with text or video comments, known as "keekbacks", and share content to other major social media networks. There is also an embed option so users can embed their keeks into a blog or website.
Patent Properties develops and commercializes the patent and other intellectual property assets created by Walker Digital, LLC, the research and development lab founded and led by internationally recognized inventor and entrepreneur Jay Walker.
Mr. Walker - best known as the founder of priceline.com - has twice been named by TIME magazine as “one of the top 50 business leaders of the digital age” and currently ranks as the 11th most patented living inventor, based on U.S. patents issued.
Beginning in 1994, Walker Digital set out to invent and commercialize entirely new business solutions that relied on emerging digital tools to unlock unrealized value for consumers and businesses. The lab created intellectual property to solve enormous and complex problems in multiple industries located at the intersection of human behavior and large-scale digital networks. Over the past 20 years, Walker Digital has invested tens of millions of dollars to create what is now a broad and growing portfolio of inventions.
All of the patents owned by Patent Properties, Inc. were developed internally by Walker Digital, with Jay Walker as a named inventor on all issued patents and the lead inventor on the vast majority.
The Company consists of the current, wholly-owned patent and other intellectual property assets which includes:
- 377 granted patents
- 94 pending patent applications
- 19 active litigation matters
- a new patent licensing system
The Company expects to grow its patent portfolio over time as new patents issue and Mr. Walker and team file new applications based on the current patents in the portfolio.
Pinkberry is a franchise of upscale frozen dessert headquartered in Los Angeles, California. There are currently over 100 stores, mostly located in Southern California and New York City.
The first store opened in January 2005 by Hye Kyung (Shelly) Hwang and Young Lee. The tart, frozen dessert has a groupie-like following. The company acknowledges its cult-like following by maintaining a "groupie corner" on its website.
Scythian Biosciences Inc.
Scythian BioSciences is a private Research and Development Company committed to finding a solution for the prevention and treatment of concussions and Traumatic brain injury (TBI). Breakthrough Research- Traumatic Brain Injury: When traumatic brain injury happens after a major impact to the head, there is:
- The initial damage from the impact itself;
- The damage from inflammation caused by the impact; and
- The damage caused by a series of immune responses, causing extensive tissue injury.
Scythian’s primary approach to reduce both the inflammation and the immune response by using two classes of drugs in combination as frontline treatment puts us at the forefront of TBI treatment. A broad based U.S. provisional patent application has been filed utilizing our proprietary combination therapy which affects the endocannabinoid pathway to treat concussions and TBI. Our mission is to be the first accepted drug regimen for concussive treatment. Scythian Biosciences has recently formed a collaboration with the University of Miami to conduct pre-clinical and clinical trials of this drug regimen. Both Scythian and the University of Miami believe that Scythian’s scientific approach shows significant promise and differs from approaches previously taken. Our collaboration with the University of Miami will allow us access to their extensive knowledge base in the fields of Traumatic Brain Injury and Concussion as will allow for our pre-clinical and clinical studies to be carried out at their world-class facilities.
Other Research: Scythian has also filed a second U.S. provisional patent application proposing to utilize a similar endocannabinoid receptor present in the intestinal tract to treat a wide array of gastrointestinal inflammatory diseases. This proposed treatment regimen is currently undergoing refinement and will also shortly be vetted for the commencement of pre-clinical and/or clinical trials. Scythian is also evaluating other medical R&D projects.
SecureCom Mobile, Ltd. was founded for the purpose of creating a suite of consumer software for “securing” mobile phone conversations and digital messaging. It is easy to use, and guarantees private and confidential communication.
As the world of surveillance and hacking grows and our online information becomes more personal, the need for new and better privacy protections are required. Whether you are sharing pictures of your children or talking about your company’s sales projections, your texts, data, and phone calls belong to you and should remain private.
Our open source software solution is designed to be used everyday on every call and text or data message. There is no need to switch back and forth from your native phone text and call apps because of functionality or reliability. We strive to create a user experience that is as easy to use and as reliable as your phone’s native text and phone app, with complete security from prying eyes and ears.
STK - The One Group
The ONE Group develops and operates upscale, high-energy restaurants and lounges and provides "ONExperience", a turn-key food and beverage service for hospitality venues including boutique hotels, casinos and other high-end locations in the United States and United Kingdom. The company was established with the vision of becoming a global market leader in the hospitality industry by melding high-quality service, ambiance and cuisine into one great experience.
The ONE Group's primary restaurant brand is STK(R), which is a unique steakhouse concept with locations in major metropolitan cities throughout the U.S. and in London. STK artfully blends two concepts, the modern steakhouse and a chic lounge, into one offering a high-energy, fine dining experience with the superior quality of a traditional steakhouse. Each STK location features an open aired, vibe-driven restaurant and bar area with a DJ or DJ mix playing music throughout the restaurant so guests can enjoy a fun "destination" environment that encourages social interaction. The STK menu provides a variety of portion sizes and signature options to appeal to a broad customer demographic. There are currently seven STK restaurants in major metropolitan cities, including Atlanta, Las Vegas, Los Angeles, New York (2), London, and Miami, which is in the process of being re-located in South Beach. An additional STK is under development in Washington, D.C.
The ONE Group's food and beverage hospitality services business provides the development, management and operations for premier restaurants and turn-key food and beverage services at high-end boutique hotels and casinos. Through developmental and operational expertise, The ONE Group is able to provide comprehensive tailored food and beverage solutions to its hospitality clients. Fee-based solutions include developing, managing and operating restaurants, bars, rooftops, pools, banqueting, catering, private dining rooms, room service and mini bars on a contract basis.
There's a reason why Swisher Hygiene is the most respected name in the hygiene services industry: we invented it. We started back in 1986 with the conviction that business people would welcome the opportunity to have their facilities maintained by a true hygiene specialist, and the response has been overwhelming.
It's not surprising. Matters of hygiene are too important to be left to anyone but an expert. Businesses that require their employees to maintain their facilities get the level of service they pay for. And those who count on conglomerates that try to be everything to everyone too often wind up with superficial work at best.
At Swisher Hygiene, we concentrate on one thing and one thing only: commercial hygiene. It starts with the weekly restroom service that we’re famous for, using proprietary products and specialized procedures to ensure that our customers' restrooms receive a level of attention that others simply can't match. We complement that with a range of products and services that make us the industry’s only true full-service hygiene partner.
For Jesse and Carly Burnett, the husband and wife duo behind TKEES (t-keys), it was a no-brainer—Carly yearned for a sandal that would "disappear" on your foot. "We'd walk out the door barefoot if we could, but it's not appropriate for every occasion," she says.
Thus, in the summer of 2009, using a simple thong sandal as their base, the couple (she with a degree from the School of Visual Arts and he with a background in business and real estate) produced a collection that was divided into color categories: Foundations, Creams, Liners, Glosses and more. Branded as "cosmetics for your feet," TKEES was born, and has become the go-to sandal for easy, fresh and sophisticated everyday dressing.
Carly, the ultimate flip-flop girl, was never big on makeup, but loved its myriad color collections. She sifted through her mom's cosmetic case and traveled the world with Jesse to build their business, finding continued inspiration in makeup stores and cosmetic counters. "The categories we created are natural and organic," she says, "everything fits together." The couple has stayed true to their mission, with customers applauding the sandals for their casual elegance and ease of wear—a no-brainer indeed.
Resources - Mining & Energy
APO ENERGY INC.
APO Energy Inc. is a private Ontario company engaged in oil and gas exploration and development in Colombia founded and initially controlled by the principals of Delavaco Capital.
From January 29, 2010 through February 17th, 2010, APO raised US$1,280,000 by way of non-brokered private placements of 5,120,000 APO Shares to investors at US$0.25 per APO Share.
On February 17, 2010, APO issued a convertible debenture of US$500,000 convertible into APO shares at US$1.00.
From February 18, 2010 through May 14, 2010, APO raised US$25,580,000 by way of non-brokered private placements of 25,580,000 APO shares at US$1.00 per share.
From May 14, 2010 through August 3, 2010, APO raised US$21,681,830 by way of non-brokered private placements of 20,454,558 shares to investors at an issue price of US$1.06 per share. In connection with such private placements, APO paid US$1.5 million and issued warrants to purchase an aggregate of 1,000,000 shares, exercisable at a price of US$1.25 and expiring November 12, 2011, in respect of financial advisory services.
In August 2010, APO raised US$51,501,250 by way of a brokered private placement of: (i) 6,681,250 shares at an issue price of US$1.25 per share; and (ii) a principal amount of US$44,820,000 debentures. The debentures have an interest rate of 12%, are convertible at a price of US$1.50 per share and mature September 30, 2013.
On December 20, 2010 following receipt of all necessary approvals from shareholders and debenture holders, P1 Energy Corp. and APO merged to form a new company which will carry on its business under the name P1 Energy Corporation. APO and P1 were both private Ontario companies engaged in oil and gas exploration, development and production in Colombia. The merged company, P1 Energy Corporation, also completed a $60 million private placement of common shares valuing the combined company at approximately $400 million.
CUB ENERGY INC
3P International Energy (TSXV: DOH) is a Canadian-based emerging oil and gas company founded and initially controlled by the principals of Delavaco Capital. It is focused on developing significant proven oil and gas reserves in Eastern Europe. In the Ukraine, 3P is a joint venture partner on a significant CBM property (512 km2). The Company's strategy is to use proven technology, capital and expertise to significantly increase production and reserves via the drill bit and consolidation. 3P shares are traded on the TSX Venture Exchange under the stock symbol DOH. www.3pintlenergy.com
October 14, 2010 - 3P announced a non-brokered private placement of 20,000,000 shares at 0.40 per share for proceeds of 8,000,000.
Dalradian Resources is a Canadian based exploration company looking to increase gold resources in counties Tyrone and Londonderry in Northern Ireland which was founded and initially controlled by the principals of Delavaco Capital. Dalradian's common shares and warrants are listed on the Toronto Stock Exchange under the tickers DNA and DNA.WT respectively. www.dalradian.com
On March 27, 2009, the Company completed a private placement of 10,182,417 common shares at $0.001 per share for proceeds of $10,182.
During the period ended December 31, 2009, the company issued three convertible debentures for proceeds of US$1,625,000. The debentures were issued at par with an interest rate of 6% and matured on September 30, 2009. Two of the debentures were convertible at the option of the holders at any time prior to the maturity date into common shares at a conversion rate of US$0.25 per share and one debenture was convertible at the option of the holder into units of the Company (each consisting of one common share and one-half of one common share purchase warrant) at a conversion rate of US$0.45 per unit.
On September 30, 2009, the company issued 5,000,000 common shares upon conversion of the two debentures. On December 16, 2009, the company issued 833,333 common shares and 416,666 common share purchase warrants upon conversion of the outstanding debenture convertible into units. Each common share purchase warrant is exercisable to acquire one common share at an exercise price of US$0.45 until December 18, 2011.
On October 26, 2009, the company completed a non-brokered private placement offering of 10,600,000 common shares at a price of $0.10 per share for proceeds of $1,060,000.
On October 30, 2009, the company completed a non-brokered private placement offering of 7,540,000 common shares at a price of $0.25 per share for proceeds of $1,885,000.
On December 18, 2009, the company completed a brokered private placement offering of 8,000,000 common shares at a price of $0.75 per common share for proceeds of $6,000,000. In connection with this offering, the company paid the agents a cash commission equal to 6% of the proceeds and granted to the agents broker warrants to acquire 480,000 common shares at a price of $0.75 per common share until December 18, 2011.
On August 1, 2010, Dalradian Resources Inc. (TSX:DNA, DNA.WT) completed its initial public offering of 22,700,000 units of the company at a price of C$1.50 per unit for gross proceeds of C$34,050,000. Each unit consisted of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable to purchase one common share at an exercise price of C$2.25 per share until August 10, 2011.
DELAVACO ENERGY INC.
Delavaco Energy Inc. operates as an oil and gas exploration and production company in Canada founded and initially controlled by the principals of Delavaco Capital. As of October 22, 2009, Delavaco Energy is a wholly owned subsidiary of Alange Energy Corp.
On July 23, 2009, Delavaco Energy raised gross aggregate proceeds of US$13,000,000 by way of a brokered private placement of 40,625,000 subscription receipts, at a price of US$0.32 per subscription receipt. Each subscription receipt was convertible into units of one Common Share and one half of one Common Share purchase warrant. Each Common Share purchase warrant was exercisable to acquire one Common Share at an exercise price of US$0.4829.
On September 30, 2009, Delavaco entered into an agreement with Alange Energy Corp in which Alange would acquire Delavaco by way of a three-corner amalgamation: Delavaco amalgamated with a wholly-owned subsidiary of Alange and holders of the common shares of Delavaco received common shares of Alange in exchange. This transaction was completed on October 22, 2009 for approximately C$100 million.
P1 Energy Corp. is a private Ontario company engaged in oil and gas exploration and development in Colombia which was founded and initially controlled by the principals of Delavaco Capital.
From December 8, 2009 through March 24, 2010, P1 raised $15,100,000 by way of non-brokered private placements of 30,200,000 shares at $0.50 per share.
Between February 5, 2010 and April 15, 2010, P1 raised $40,350,006 by way of non-brokered private placements of 26,900,004 shares at an issue price of $1.50 per share. On June 9, 2010, P1 issued 475,000 shares pursuant to a private placement at an issue price of $1.50 per share for gross aggregate proceeds of $712,500.
On June 10, 2010, P1 raised $20 million by way of a brokered private placement of $20 million unsecured subordinated convertible debentures. The debentures have an interest rate of 12%, are convertible into P1 shares at a price per share equal to 90% of the price per share pursuant to a financing conducted prior to December 31, 2010 or $1.35 if no financing is conducted. Interest is payable in cash or shares at the option of the debenture holder.
On December 2, 2010, P1 raised $50.9 million by way of a brokered private placement of subscription receipts. Each subscription receipt converted into one P1 share upon the amalgamation described below. On December 20, 2010 and following receipt of all necessary approvals from shareholders and debenture holders, P1 and APO Energy Inc. merged to form a new company which will carry on its business under the name P1 Energy Corporation. APO and P1 were both private Ontario companies engaged in oil and gas exploration, development and production in Colombia. The merged company, P1 Energy Corporation, also completed a $60 million private placement of common shares valuing the combined company at approximately $400 million.
SANTA MARIA PETROLEUM
Quetzal Energy Ltd. is a public oil & gas exploration and production company listed on the TSX.V under the ticker QEI founded and initially controlled by the principals of Delavaco Capital. Quetzal is a well-financed Canadian-based energy company with exploration and production assets in Guatemala and interests in Colombia in the Llanos basin. www.quetzalenergy.com
On October 26, 2009 - Quetzal Energy Ltd. closed the first tranche of its previously announced non-brokered private placement financing, pursuant to which it issued 39,673,000 units at a price of $0.125 per unit to raise proceeds of $4,959,125. Each Unit consists of one common share of Quetzal and one share purchase warrant, each warrant entitling the holder to acquire one additional common share of Quetzal until October 26, 2011 at an exercise price of $0.20 per share.
On October 29, 2009 Quetzal closed the second tranche of its non-brokered private placement where it issued 25,099,660 units at $0.125 per unit to raise approximately $3,137,400. Each unit consists of one common share of Quetzal and one share purchase warrant.
On March 18, 2010 Quetzal completed a private placement by issuing 58.8 million units at a price of $0.14 per unit for proceeds of $8.2 million. Each Unit consists of one common share and one common share purchase warrant..
On September 9, 2010 Quetzal completed a private placement by issuing 68.3 million units at a price of $0.14 per unit for proceeds of $9.5 million. Each unit consists of one common share and one common share purchase warrant.
On November 13, 2009 Quetzal closed the final tranche of its non-brokered private placement financing, pursuant to which it issued 1,862,420 units at $0.125 per unit to raise approximately $232,800.
On March 13, 2010 Quetzal announced that it closed a brokered private placement. The company issued 58.8 million units at a price of $0.14 per unit for proceeds of $8.2 million. Each Unit consists of one common share and one common share purchase warrant.
On September 9, 2010 Quetzal announced that it closed a brokered private placement. The company issued 68.3 million units at a price of $0.14 per unit for approximately $9.5 million. Each unit consists of one common share and one common share purchase warrant.
On January 27, 2011 Quetzal announce that it closed a brokered equity financing in which it issued 276,000,000 common shares at $0.125 per common share for proceeds of $34,500,000.
ColCan Energy is a private oil and gas company with high impact exploration in three key basins in Colombia. Llanos Basin, Putumayo Basin and the Middle Magdalena Basin.
February 3, 2011 – Colcan Energy announced a non-brokered private placement of 30,187,000 shares at 0.40 per share for proceeds of $12,075,000; and 20,000 debentures at $1000 per unit for proceeds of $20,000,000.