|
Mr. Rooney has over 20 years of technology investment banking experience with the last three at The Chesapeake Group. Over this period he has had significant responsibilities with respect to equity trading, research and corporate finance. Mr. Rooney helped build one of the largest and most profitable software services practice on Wall Street first as an analyst and then as an investment banker. During this time he helped complete nearly 30 capital raising projects raising more than $2.5 billion and completed over $3 billion in M&A transactions. Mr. Rooney purchased 400 units of securities from us in December 2006 for an aggregate of $400,000 ($1,000 per unit), with each unit consisting of one share of our Series B Preferred Stock and one warrant to purchase 300 shares of our common stock, and the Chesapeake Group purchased an additional 100 units of securities in that same offering for an aggregate of $100,000. Additionally, the Chesapeake Group loaned us $249, 167 in August 2007, for which we issued a promissory note. . | 