Wednesday, July 27, 2005

XsunX gets a $10.85M commitment

Publicly-traded XsunX has announced a PIPE funding from Cornell Capital, LP. The funding is in the form of a $10M "standby equity distribution agreement" for tranched funding as needed over 24 months, and $850K of convertible debentures. XsunX appears to be pre-revenue, and is developing BIPV specifically for glass windows.