Foldera has completed a Series B common stock offering of $8.5 million, at $2.00 per share

February 14, 2006

2 Min Read

HUNTINGTON BEACH, Calif. -- Foldera(TM), Inc. (BULLETIN BOARD: EXSM) , the only free, open and easy-to-use web-based Organizer and Messaging/Collaboration service, announced today that it has completed a Series B common stock offering of $8.5 million, at $2.00 per share. The offering follows the completion of a $2.0 million Series A round in August of 2005. Both financings were oversubscribed.

Foldera has now raised a total of $13 million since its inception, including the $8.5 million Series B round, the Series A financing of $2.0 million and an investment of $2.5 million by Founder and CEO Richard Lusk.

"A number of these investors own their own businesses and know firsthand how frustrating and time consuming it is to organize their email, IMs, documents, project teams, and other activities," said Neil Dabney of Brookstreet Securities, which managed the offerings. "Their eager participation in this offering is a resounding vote of confidence that Foldera's service effectively addresses the disorganization suffered by many businesses. They also believe that Foldera will be rapidly adopted by businesses, given its distribution plan. Not only does the service work extremely well, it's free and is being promoted by the same word-of-mouth and network enhanced distribution approach pioneered by Hotmail, MySpace, Skype, Firefox and others. Many of these services quickly signed up millions of users while spending very little on marketing."

"We're very grateful for the enthusiastic response to our offerings," said Richard Lusk, chief executive officer of Foldera. "Because many of our investors are business owners themselves, this response is important not only financially but because it represents validation that our service will have great appeal in our target market. We're now positioned to roll out our service and to capture this enormous potential."

Foldera Inc.

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