PITOOEY! Inc. (PTOO) Secures Additional Financing with Intelliace Investment Agreement
Digital marketing agency PITOOEY! has entered into an Investment Agreement with Intelliace, LLC, which provides PITOOEY! with additional capital to continue the development of its PITOOEY! iPhone app as well as support the ongoing growth of company operations.
Per the agreement, Intelliace has agreed to loan PITOOEY! up to $1.1 million in 8 percent debentures. PITOOEY! reserves the right to sell up to $15 million shares of its common stock to Intelliace, subject to certain restrictions and conditions.
Jacob DiMartino, CEO of PITOOEY!, emphasized the importance of a properly funded organization.
“The number one reason companies fail is because they are undercapitalized. Our arrangement with Intelliace provides the financial ‘muscle’ to continue building our groundbreaking PITOOEY app, as well as expanding our operating business units,” DiMartino stated in the press release.
PITOOEY! is comprised of three subsidiaries, PITOOEY! Mobile Inc., Choice One Mobile Inc., and Rockstar Digital Inc., through which the company provides a complete suite of digital marketing services.
“A significant percentage of international media and marketing executives see mobile as the most disruptive force in their industry; and PITOOEY! is positioned to provide mobile and social marketing tools to businesses of every size at a higher engagement rate than traditional media,” PITOOEY! President David Sonkin stated.
For more information visit www.Pitooey.com
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