Replies to post #412 on Bloggerwave Inc.(fka BLGW)

[Lottalead]

Yes, here it is:

USE OF PROCEEDS


This prospectus relates to shares of our common stock that may be offered and sold from time to time by selling stockholder AGS Capital Group, LLC (“AGS”). We will receive no proceeds from the sale of shares of common stock in this offering. However, we may receive proceeds of up to $5,000,000 pursuant to the Reserve Equity Financing Agreement dated December 13, 2010 between our Company and AGS (the “Equity Financing Agreement”). Any proceeds from AGS that we receive under the Equity Financing Agreement will be used for working capital and general corporate purposes, including for a new version of our software and the payment of the fees and commissions incurred from entering into and consummating the transactions contemplated by the Equity Financing Agreement.

I could barely keep my eyes open last night when I was reading it, so I'll go over them all again. I wonder if Mr. Poricelli still owns his 5m shares... I bet he does.