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My Vintage Baby, Inc. (MVBY.PK) Sells $250,000 Convertible Debentures
QualityStocks (June 6th, 2008) Writes:
My Vintage Baby, Inc. (OTC: MVBY) recently announced that they have sold $250,000 of senior-secured, fixed-price convertible debentures to a New York institutional investor, Agile Opportunity Fund, LLC. My Vintage Baby engages in the design, production, and sale of clothing and accessories.
David Propis, Agile’s managing director, stated, “My Vintage Baby has undergone a significant balance sheet and operational cleanup over the past year. In my opinion the Company is poised for growth and sustained profitability. Our investment was based on our analysis that MVBY should become profitable within the next year. The Company’s design team, headed by Jessica Wiswall, has the resources necessary to fulfill its mission to create and distribute niche, high-end children’s apparel.”
“I am pleased to announce that we were able to complete the debt transaction convertible at a fixed price with no stipulated registration requirement,” said Jeff Walsh, CEO of My Vintage Baby.
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