Message #3 From:
NewsBot Date: January 11, 2007 01:32:00 PM
MGOF News MangoSoft Closes Private Placement
NASHUA, N.H.--(BUSINESS WIRE)--MangoSoft, Inc. (OTC:BB:MGOF), a developer of internet enabling business
software solutions, announced that it had completed a private placement
of its common stock raising aggregate gross proceeds of $1,200,000
through the sale of 2,400,000 shares of its common stock. The private
placement was made to a group of investors led by current stockholders,
and no placement agent was involved in connection with the offering. The
Company stated that it intends to use the net proceeds of the private
placement, after the payment of certain offering and past due expenses,
to fund its various patent litigations.
Forward-looking Statement
Statements included in this release may constitute forward-looking
statements. These statements involve known and unknown risks,
uncertainties and other factors that may cause the Company’s
actual results and performance in future periods to be materially
different from any future results or performance suggested by these
statements. Such factors which could adversely affect the Company’s
ability to obtain these results include, among other things: (i) the
outcome of various litigations; (ii) an economic downturn that could
create a recession; and (iii) other factors described in the Company’s
quarterly reports on Form 10-Q for the three month periods ended March
31, 2006, June 30, 2006, and September 30, 2006.
