Microelectronics Technology Co. (fka MELY)

[360spyder1]

MELY, obtained $2 million funding

http://www.marketwatch.com/story/microelectronics-btcpoolparty-receives-ccn-crypto-coins-news-review-2014-12-05?siteid=bigcharts&dist=bigcharts

The company through Mr. Garavaglia, has ordered its first shipment of Spondoolies-Tech

SP 20s. Each SP-20 produces 1.7 TH/s the company's initial order of 270 units providing 460 TH/s will ship mid-December. The company is preparing the Washington facility for installation upon receipt of the servers.

Financing:

The company has finalized its negotiations for a two million dollar long-term debt placement with a private placement agent. The company will be offering a 12% Convertible Preferred, convertible after 24 months into common shares of the company at a 30% discount to market of a lowest three day average bid price, based on a 5 day look back.

This offering is currently in legal with expectations the company will be receiving subscriptions prior to months end.

This financing will allow for the company to expand and accelerate its server acquisition for the new year.