Maptelligent, Inc. announced that it has received $0.05 million in funding from GPL Ventures, LLC
February 11, 2021
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Maptelligent, Inc. (OTCPK:MAPT) announced that it has entered into securities purchase agreement for a private placement of convertible promissory notes for gross proceeds of $50,000 on February 12, 2021. The transaction included participation from returning investor, GPL Ventures, LLC. The notes bear interest rate of 10% per year, payable on the maturity date in either cash or common shares of par value $0.00001 at the company's option and matures on February 12, 2022. The notes are being issued at par and the company has no right to prepay the notes. The note is convertible at any time by the investor into common shares, beginning on the issuance date, at the conversion price equal to the lesser of $0.10 or fifty percent of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date. The transaction has been approved by board of directors of the company. The company has issued notes in reliance on the exemption provided by Section 4(a)(2) of the Securities Act.
Maptelligent, Inc. delivers Web and mobile applications for teams to explore, enhance and collaborate on projects using data from multiple systems in a geospatial context. The Companyâs digital twin solution set provides interconnectivity, automation, and access to real-time data. Its capabilities include Digital Transformation and Technical Services, Assessments, and Survey Services. Its solution integrates data from sensors, cameras, alarms, access control and accountability systems creating actionable intelligence on an intuitive map interface. It also provides a suite of maps and applications that provide customers with the ability to maintain and manage data in a mobile environment for public safety to create incident preplans associated with the building floor plan and for building engineers to manage maintenance schedules for critical elements of a building, such as alarm panels, pull stations, extinguishers, and other assets.