Lot78, Inc. (OTCPK:LOTE) announced that it has entered into a stock purchase agreement for a private placement of 23,993,891 shares at a price of $0.018 per share for gross proceeds of $424,575 on August 18, 2014. The transaction included participation from Levant Investment Bank. Kenneth A. The company has issued securities pursuant to exemption provided under Regulation D. The company has not retained any finder, broker, agent, financial advisor or other intermediary in connection with the transaction. Kenneth A. Schlesinger of Olshan Frome Wolosky LLP acted as legal advisor to the company.

On August 18, 2014, Lot78, Inc. closed the transaction.