MONSTER ARTS INC LAS VEGAS, NV / ACCESSWIRE / April 7, 2015 / Monster Arts, Inc. (PINKSHEETS:APPZ) is pleased to announce that it has secured a $5 million preferred equity line of credit to further advance its growth strategies relating to current and future, planned projects, and otherwise for purposes of funding existing working capital needs. The equity line is being provided by Premier Venture Partners, LLC, a Los Angeles based private equity firm. Terms and conditions of the equity line can be found on Form 8-k, filed with the Securities and Exchange Commission, found here: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10565796.
"This commitment comes at an important time in our company's development, as it gives us the "runway" we need to enable us to sustain the momentum we've recently built with our development of smart location-driven tracking technology as it relates to UAV's and as we build on the continued growth of our primary product platforms -- Travel America Visitor Guide and FanPic projects, in each case at a significantly lower cost of capital than compared with some of the other financing transactions we have entered into over the prior 12 months," stated Wayne Irving II, CEO of Monster Arts, Inc.
Since 2010, Monster Arts, along with its corporate predecessors, affiliates, and venture partners, have been developing, and are continuing to develop, smart device GPS and intelligent-location driven tracking software, with a particular focus on the Drone/Unmanned Aerial Vehicle space as the next big area and opportunity for focusing its efforts. In addition, the Company continues to grow its paying subscriber and partner base, through FanPic.com andTravelAmericaVisitorGuide.com, among other projects.
PRESS CONTACT:
Jennie S.
Media Relations
Monster Arts, Inc.
(725) 222-UAV1
pr@monsterarts.net
Safe Harbor Statement:
Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including, but not limited to, the risks associated with the management appointment described in this press release, and other risks identified in the filings by Monster Arts, Inc. (APPZ), with the U. S. Securities and Exchange Commission. Further information on risks faced by APPZ are detailed in the Form 10-K for the year ended December 31, 2013, and in its subsequent Quarterly Reports on Form 10-Q. These filings are or will become available on a website maintained by the U. S. Securities and Exchange Commission at http://www.sec.gov. The information contained in this press release is accurate as of the date indicated. Actual results, events or performance may differ materially. Monster Arts does not undertake any obligation to publicly release the any revision to these forward-looking statements that may be made to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements.
SOURCE: Monster Arts, Inc.
