Bulova Technologies Group, Inc. (OTCPK:BLVT) announced a private placement of common shares and 2,000,000,000 preferred shares at a price of $0.00001 per share for gross proceeds of $420,000 on February 25, 2013. The company also issued detachable 10 year warrants to purchase up to 4,240,343 common shares at an exercise price of $.0001 per share and additional warrants to purchase 4,118,000,000 common shares. The additional warrants have the same terms as 10 year warrants. The transaction saw participation from accredited investors. No placement agent fees or commissions were paid in connection with this transaction. The securities will be issued pursuant to Regulation D.

On February 25, 2013, Bulova Technologies Group, Inc. closed the transaction.