MPM Technologies Inc. announced a financing transaction.
On April 29, 2013, the company announced that it will receive $500,000 through issue of the convertible promissory notes to certain accredited investors. The company will issue the securities pursuant to exemption provided under Regulation D. The notes will be convertible into 2,721,089 shares of common stock based on the May 1, 2013 market price of $0.245 per share and the 25% discount on the price.