Wherify secured a package of equity financing where the Company can access up to $35 million of common stock equity over a two-year period, subject to effective stock registration and other terms of the agreement, from Dutchess Private Equities LP.
We reported about the Wherify Kids locator Wristwatch the first time way back in 2002. It is good to see that they well stick around.
Wherify will use the funds for marketing efforts and expanding global operations toward the upcoming launch of its Wherifone GPS Locator Phone, assisted-GPS technology platforms, and continued product development.
The Wherifone G550 (photo) is the world’s smallest GSM/Enhanced-GPS Locator Phone. The Wherifone provides affordable peace-of-mind to the modern mobile family. The slim, small and lightweight Tri-Band GSM cell phone (900/1800/1900 and 850/1800/1900) weighs under 70 grams and features incoming and outgoing calling, five programmable buttons for one touch dialing, a headset jack, and a backlit LCD display.
More details on the Wherify Wireless site.
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