Sonomax will use the net proceeds from the private placement for commercialization of its products, business development and working capital.

Well, we knew this day would come.

Remember what I said back in January.

>As for revenue? The Arabian Prince is quite confident that we’re going to hit the 300,000 unit plateau by year’s end. At $200 per unit that’s $60 million. Let’s say Sonomax earns 10% of that; that would be a cool $6 million for its coffers. But in the interim, Sonomax probably will need more money to achieve the above mentioned goal, so we the 3,860 shareholders could help the company by not selling any of our holdings under 20 cents. By the way, none of mine’s for sale for less than 1 dollar.

The long-term shareholders by and large just did that.

http://agoracom.com/ir/Sonomax/forums/discussion/topics/516554-pnosker-com/messages/1639268#message