InterMetro Communications Inc. announced a private placement of 800,000 preferred shares for proceeds of $800,000 on November 28, 2014. The minimum investment accepted from any outside investor is $50,000. The transaction involved participation from two investors.

The company intended to issue 1,300,000 series C preferred share at a price of $1 per share for gross proceeds of $1,300,000 to accredited investors. The conversion price applicable to the series C preferred shall initially be $0.155; provided however, that in the event one purchaser purchases aggregate Series C Shares of $1,000,000 or more within two months of its initial purchase, the series C conversion price shall be $0.150. The company issued warrants to purchase 800,000 shares of common stock at an exercise price of $0.25 per share.

The issued securities pursuant to exemption provided under Regulation D. An investor generally has the right to acquire up to $300,000 in additional series C preferred stock.