Solar Wind Energy Tower, Inc. (OTCPK:SWET) announced a private placement of 8% secured convertible promissory notes for gross proceeds of $100,000 on May 13, 2013. The notes will bear interest at 8% per annum and will mature on June 16, 2014. The notes will be convertible into common shares of the company at a conversion price of $0.04 per share. The notes will be issued at a discount of $10,000. The company has also issued one warrant, corresponding to the delivery of five tranches of the transaction, equal to $55,000 divided by 65% of the arithmetic average of the two lowest closing bid prices of the shares during the 20 consecutive trading day period immediately preceding the date of such determination. Each warrant is not exercisable until each corresponding tranche is funded. The warrants being issued will be exercisable at $0.10 per share. The transaction included participation from new investor, Typenex Co-Investment, LLC. The securities will be issued pursuant to exemption provided under Regulation D. Jonathan K. Hansen of Hansen Black Anderson PLLC will act as the legal advisor to the investor. Gregg E. Jaclin of Anslow & Jaclin, LLP will act as the legal advisor to the company. The company has already paid $2,500 to cover the investor's legal fees, accounting costs, due diligence, monitoring, and other transaction costs incurred in connection with the agreement. The company may raise $500,000 in the transaction and the investor has no obligation to pay the remaining $400,000 of available principal amount under the note and may never do so.

On same day the company raised $100,000 in funding.

On May 24, 2013, the company issued convertible notes worth $115,000 at a discount for gross proceeds of $105,000. The company also issued a warrant to purchase 2,187,101 shares exercisable at $0.10 per share for five years.

On August 16, 2013, the company issued convertible notes for gross proceeds of $50,000.

On February 26, 2014, Solar Wind Energy Tower, Inc. closed the transaction. The company additionally issued convertible notes for gross proceeds of $50,000. The company raised total gross proceeds of $305,000.