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Article Excerpt
M2 PRESSWIRE-10 July 2008-Stockwire.com: (OTCBB:DSPA) DesignerSportsApparel, Inc. just released some important news.(C)1994-2008 M2 COMMUNICATIONS LTD
RDATE:10062008
(OTCBB:DSPA) DesignerSportsApparel, Inc. - DesignerSportsApparel Announces Financing
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(OTCBB:DSPA) DesignerSportsApparel, Inc.
ARLINGTON, TX-Jul 9, 2008 - DesignerSportsApparel, Inc. recently announced that it had recently privately placed 460,000 shares of its common stock at a price of $0.25 per share, raising total proceeds of $115,000; there were no underwriting discounts or commissions paid. The shares are restricted and will not be registered for resale.
"The completion of this small financing is intended to provide the company with sufficient capital to meet its existing obligations, partial repayment of outstanding debt, and modest working capital which includes expense for ongoing SEC reporting requirements, as well as to give management time to evaluate our current business plan, which may result in a shift in strategy," said David B. Parker, CEO and CFO, DesignerSportsApparel.
Separately, DSA announced that it had secured a short-term loan for $28,000 which will...
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