Monarch America, Inc. (OTCBB:BTFL) announced a private placement of 750,000 shares of series B convertible preferred stock at a price of $12 per share for gross proceeds $9,000,000 on May 23, 2014. The minimum investment accepted from any outside investor is $5,000. The company will issue securities pursuant to exemption provided under Regulation D.

On same date, the company received proceeds of $7,500 for the subscription of 625 shares of series B preferred stock.

On May 28, 2014, the company received proceeds of $100,000 for the subscription of 8,333 shares of series B preferred stock.

On June 4, 2014, the Company received proceeds of $60,000 for the subscription of 5,000 shares of series B preferred stock.

On June 10, 2014, the company announced that $162,500 of the funding has been received from four investors. The company filed a certificate of designation of preferences, rights and limitations of series B convertible preferred stock. Each preferred stock accrues dividends at the rate of 4% per annum. The series B preferred stock is convertible at any time at the option of the holder into shares of common stock at a conversion ratio of 6 shares of common stock for each share of series B preferred stock. Until November 30, 2016, the company has the right to pay the dividend in additional shares of series B stock. None of the series B preferred stock is redeemable at the holder's option or callable by the company.

On June 18, 2014, the company received proceeds of $1,800 for the subscription of 150 shares of series B preferred stock.

On June 19, 2014, the company received proceeds of $5,004 for the subscription of 417 shares of series B preferred stock.

On June 25, 2014, the company received proceeds of $5,000 for the subscription of 417 shares of series B preferred stock.

On July 1, 2014, the company received proceeds of $5,000 for the subscription of 417 shares of series B preferred stock.

On August 5, 2014, the company amended the terms of the transaction. Now each preferred stock is convertible at any time at the option of the holder into shares of common stock of the company at a conversion ratio of 24 shares of common stock for each series B preferred.

On August 4, 2014, the company received proceeds of $50,000 for the subscription of 4,167 shares of series B preferred stock.

On August 31, 2014, the company received subscriptions of $10,000 for 833 shares of series B preferred stock, which have not been issued on August 31, 2014, and have been included in subscriptions received.

On September 2, 2014, the Company issued 833 shares of series B preferred stock for proceeds of $10,000 that were received on August 31, 2014.

On September 8, 2014, the company issued 834 shares of series B preferred stock for proceeds of $10,000.

On September 9, 2014, the company issued 833 shares of series B preferred stock for proceeds of $10,000.

On September 10, 2014, the company issued 4,165 shares of series B preferred stock for proceeds of $49,982.50.

On September 19, 2014, the company issued 417 shares of series B preferred stock for proceeds of $5,000.

On October 31, 2014, Monarch America, Inc. (OTCPK:BTFL) closed the transaction. The company has issued 35,000 shares of series B preferred stock for gross proceeds of $420,000 to 15 investors in the final tranche.