well at least they have some cash in the door now
From December 18, 2009 through January 13, 2010, GelTech Solutions, Inc. (the “Company”) sold 1,275,000 shares and 1,275,000 three-year warrants to purchase the Company’s common stock exercisable at $1.60 per share and raised $1,275,000. These securities were sold without registration under the Securities Act of 1933 in reliance upon the exemption provided in Section 4(2) and Rule 506 thereunder.