APT MotoVox Group, Inc. announced that it expects to receive $0.34 million in funding from Inter-Mountain Capital Corp. and WHC Capital, LLC.
July 02, 2014
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APT MotoVox Group, Inc. (OTCPK:MTVX) announced a private placement of a convertible promissory note for gross proceeds of $335,000 with new investor Inter-Mountain Capital Corp. on July 3, 2014. The note carries a coupon of 10% per annum and would mature on April 3, 2015. The company will receive funding in five tranches.
On July 3, 2014, the company announced that it has closed the first tranche of the transaction. The company received $100,000 in the tranche.
On July 23, 2014, the company announced that it has closed the second tranche of the transaction. The company received $50,000 in the tranche.
APT Motovox Group, Inc. operates through its subsidiary, APT Group, Inc., a propulsion technology company that manufactures and distributes transportation, utility and recreational powersport products. APT Group, Inc. offers Motovox, a range of motorsports products. Its products include mini bikes, which include MBX10, MBX11, MBX12 and MBX20; electric bikes, which include MBxXSe; pit/dirt bikes, which include MVX70, MVX110 and MVX250; Go-Karts, which include MGK11, MGK12 and MGK30; scooters, which include MVS10, and generators, which include MGR10. It also offers a range of parts, including MBX10 Mini Bike Parts, MVS10 Stand Up Scooter Parts, MBX11 Mini Bike Parts, MBxXSe Electric Mini Bike Parts, MGK11/12 Parts, MVX70 Pit Bike Parts and Factory Refurbished.
APT MOTOVOX GROUP, INC. 
