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CLNT > SEC Filings for CLNT > Form 8-K on 11-Jul-2013All Recent SEC Filings




Entry into a Material Definitive Agreement, Financial St

Item 1.01 Entry Into a Material Definitive Agreement.

On July 10, 2013, the Company entered into a stock purchase agreement pursuant to which the Company sold 150,508 shares of common stock at a purchase price of $4.70 per share. The shares were sold pursuant to a prospectus supplement dated July 10, 2013 to the Company's registration statement on Form S-3. The Company did not engage a placement agent with respect to the sale. The Company paid a fee of 10% and a non-accountable expense allowance of 2%, for a total of $84,892, to Fernando Liu with respect to sales made to the investor, who is not a U.S. Person. The net proceeds received by the Company from the sale of the shares were approximately $620,000. The Company will use the proceeds for working capital and other general corporate purposes. A copy of the form of stock purchase agreement is filed as Exhibit 99.1, and a copy of the press release relating to the sale is filed as Exhibit 99.2

Item 7.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Form of stock purchase agreement for the sale of shares pursuant to the prospectus supplement.
99.2 Press release issued on July 11, 2013 relating to the sale of shares.

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