Mind Technologies’ Subsidiary Valued at $59 Million
Mind Technologies announced today that the valuation has been set for Mind Technologies’ majority owned subsidiary, Mind Solutions, Inc., on theDeutsche Borse Stock Exchange. At current prices, valuation for Mind Solutions, Inc. is approximately $59,000,000 USD. From this point forward, Mind Technologies will be able to raise money through Mind Solutions in the European marketplace without unnecessary dilution of stock in the U.S. markets. Mind Solutions’ revenue and equity will also reflect on the balance sheet of the U.S. Company, Mind Technologies, Inc.
“While our cash position was very good before, this will greatly improve our leverage to raise additional capital through the European markets. This will strengthen our financial position significantly, which will enable us to go forward with a very aggressive marketing and development program here in the U.S. as well as abroad,” said Brent Fouch, CEO and President of Mind Technologies, Inc.
Mind Technologies, Inc. expects to raise up to $15,000,000 through their majority owned subsidiary in the European market to position itself as the world-wide leader in brain computer interface (BCI) technology, specializing in the commercialization for the mobile market.