Technology Applications International Corp. announced a private placement of 10,000 units at $500 per unit for gross proceeds of $5,000,000 on October 28, 2011. Each unit consist of one 1,000 common shares and a warrant to purchase 1,000 common shares at $1 per share. The warrants expire on the earlier of, 180 days after the common stock commences quotation on the OTC Bulletin Board or one year after the date of issuance. The securities will be issued pursuant to Regulation D. On November 25, 2011, the company announced that it will accept a minimum investment of $500 from each investor. The company will pay a sales commission of $1,000 pursuant to the transaction. During November and December 2011, the company issued 236 units for gross proceeds of $118,000. In February 2012, Technology Applications International Corp. closed the transaction. During January and February 2012, the company issued 794 units for gross proceeds of $397,000. The company raised aggregate proceeds of $515,000 in the transaction through issuance of 1,030 units.