Numbeer, Inc. announced a private placement of unsecured convertible promissory note for gross proceeds of $250,000 on August 15, 2012. The unsecured convertible promissory note carries a coupon of 8% per annum and would mature on August 15, 2014. The unsecured convertible promissory note is convertible into common stock of the company at a conversion price of $0.65 per share. The company also issued warrants to purchase 96,154 shares of the company at an exercise price of $0.75 per share.

On August 15, 2012, Numbeer, Inc. closed the transaction.