Urbanimmersive positioned for a great growth Urbanimmersive positioned for a great growth.
The company announced last month (and prior) that the majority of their debenture holders were going to convert their debt into shares in which shortly after, due to some agreement, forced the conversion (in a friendly manner) the remaining debenture into shares which cleared most of their balance sheet ($4.5m) which will result in interest savings of $450k per year!
Source: https://www.urbanimmersive.com/financial/urbanimmersive-announces-forced-conversion-of-debentures
Just recently, the great software company announced the closure of a $3 million financing led by many institutions (DKAM Capital Ideas Fund and Rivemont Microcap Fund, Charles Drouin from Prospects.com and management). UrbanImmersive anticipates to use the funds for sales and marketing purposes.
Source: https://www.urbanimmersive.com/financial/urbanimmersive-closes-a-3.0m-financing
With the reduction of their debt\interest and with the support of this new funding, this sets the company for a potential fast forwarded growth as they've been rocking it lately with lots of progress in their activities. The company focuses on their new software UiMeet3D which allows people to visit a virtual location (house, commercial, stores. etc.) with friends with no additonal addons or downloads to be made. During these tours, each visitors are reprensented by little avatar Icons which displays their face through their webcam or just regular icons if the visitor feel shy and can be seen roaming around the virtual tour. This brings an immersive way to visit locations from the comfort of their homes. The company doesnt just stop there though, they also offer many services for photographers and they target all sorts of markets, from Real Estate to the Security market which they've recently signed a deal with a large Police Department.
Source: https://www.urbanimmersive.com/financial/one-the-largest-police-department-in-north-america-selects-urbanimmersives-3d-tour-technology
I would advise anyone who are interested about their services and wishes to know more about them to visit their website at https://www.urbanimmersive.com/ or visit their virtual conference call on April 15th INFO: https://www.urbanimmersive.com/financial/urbanimmersive-to-webcast-live-at-virtualinvestorconferences.com-on-april-15th
(Personal Post, Verify sources, Shareholder.)