Drone Guarder, Inc. announced that it has received $0.125 million in funding from EMA Financial LLC
May 07, 2018
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Drone Guarder, Inc. (OTCPK:DRNG) announced a securities purchase agreement for the private placement of a 12% convertible promissory note with EMA Financial, LLC for gross proceeds of $125,000 on May 8, 2018. The note carries a fixed coupon of 12% per annum and would mature on February 8, 2019. The note issued at par. The note is convertible into common shares of the company at the election of the purchaser at any time at a conversion price equal to the lesser of the trading price for common stock on the trading day prior to the closing date of the note, or a 50% discount to the lowest trading or lowest closing bid price for our common stock during the 20 trading day period immediately prior to conversion. The note prepay within 90 days of the closing date at a premium of 135% of all amounts owed to investor and at a premium of 150% if prepaid more than 90 but less than 180 days following the closing date. The company shall pay or reimburse to purchaser a non-refundable, non-accountable sum equal to $5,000 as and for the fees, costs and expenses and other fees and expenses of $2,500. The company has issued securities pursuant to exemption provided under Regulation D.
Drone Guarder, Inc. is an early-stage security and surveillance company. The Company is focused on commercializing a drone enhanced home security system as a turnkey solution. Its solutions are application-based and include a drone, infrared camera and Android mobile application component. It offers DroneGuarder application, which will take off from a wireless charging pad once an alarm has been triggered. The camera within the drone will record a video for a few seconds, process it and then send an alert if a threat is found, which the DroneGuarder application sends in the form of a text, image or short recorded video if supported by the Global System for Mobile Communications (GSM) network. The DroneGuarder can fly for up to 20 minutes, using Global Positioning System (GPS) to navigate in its preprogrammed areas and return back to its charging pad after completing surveillance. Its target markets include the United States, Canada, Europe, South Africa and the Asia-Pacific region.