Beamz Interactive, Inc. Closes Initial $2.5 Million of Convertible Debt Financing

Provides Financing To Implement Company’s New Product and Marketing Launch

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Scottsdale, Arizona (PRWEB) May 09, 2013

Beamz Interactive, Inc. (OTCQB: BZIC), an interactive music product and technology company, today announced that it closed an initial $2.5 Million of its current convertible debt financing with management and certain other investors. The closing consisted of funding and commitments to funding of an aggregate of $1.5 million, and the conversion of approximately $1 million of loans previously made by management and their affiliates to Beamz Interactive. The Company is seeking to secure an additional $1.5 million as part of this financing, bringing the total financing to $4 million.

“We are very pleased to complete the initial closing of this financing,” said Charlie Mollo, President & CEO of Beamz Interactive. “This provides us with an adequate capital base to launch a range of exciting next generation products as well as implement our 2013 market launch plans. We believe this will be a pivotal year for Beamz as we take our company to the next level and begin taking advantage of the substantial opportunities available to us.”

Additional Beamz investor information may be found on the investor page of Beamz web site – http://www.thebeamz.com/company/investor-information - or interested parties may email the company at investorinfo(at)thebeamz(dot)com.

About Beamz
Based in Scottsdale, AZ, Beamz Interactive, Inc. (http://www.thebeamz.com) has created a new interactive laser controller technology that can be used to develop new market opportunities in a wide variety of music, game, therapy and consumer applications. In its first application, the Company developed an innovative new music technology and product offering that brings music to literally everyone in a manner that has previously not been possible. Beamz allows people that have no musical background or training to play and enjoy music within minutes, yet it has the depth to enable accomplished DJs, artists and musicians to perform, compose and create very sophisticated interactive music. Beamz Interactive’s technology portfolio includes multiple patents, patents pending and trade secrets covering interactive music, software, laser-based controllers, gaming applications and related designs and devices.

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Contact

  • James Moldenhauer
    JP Fortune - Investor Relations
    714.420.2004
    Email
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