Sector 5 Secures Growth Financing from Private Equity Firm
Sector 5’s CEO lays out the use of these proceeds for expansion and growth in the market for wireless charging and wider exposure for the company
ALEXANDRIA, VA, April 27, 2018 (GLOBE NEWSWIRE) -- Sector 5, Inc. (OTC: SFIV), a fast-growing computer maker and distributor, secured a $350,000 loan pursuant to the terms of a 10% convertible promissory note due in nine months with Auctus Fund, LLC on April 19, 2018. The Company also issued warrants to Auctus Fund to purchase up to 350,000 shares of common stock at $0.50 per share for five years.
Erick Kuvshinikov, the Chief Executive Officer of Sector 5, announced: “This round of financing was essential. We are finishing up our 15-watt wireless charging solution for laptops and other electronic devices. The funds are being used to secure patents, FCC and UL certifications, as well as equipment and devices to demonstrate this solution with a broad array of technologies.”
Mr. Kuvshinikov continued: “We believe this round of financing will increase investor awareness. Sector 5 has demonstrated the ability to get products that the business and education communities want in a cost-efficient way. These new innovations continue to spread awareness on how much we can utilize technology in our daily life, our schools, and our businesses. Shareholders should be made aware that simple ideas can be extremely important tools for the public. The key is to produce something that has ease of use, with innovations that seamlessly incorporate into our daily lives and speed-up critical thinking are essential for us to frontier. Sector 5 is working hard to create what we think is the next step in the evolution of computing. Wireless charging is something we see as that next step.
“How many times have we been someplace and can’t find the correct cord to plug-in a computer, tablet or smart phone? In many cases, teachers need to manually connect 30+ computers or tablets to charge their students’ learning tools. Some businesses and professional organizations have multiple devices for inventory, check-ins, point of sale and countless other applications. Wireless charging would give back that extra 5 to 15 minutes per class to connect and disconnect every unit. It would save organizations countless hours waiting for units to charge. Sector 5 is developing a wireless charging solution to do just that. We want to make it easy for students, teachers and business professionals to keep their devices charged and ready to use at a moment’s notice,” he concluded.
Sector 5 is developing and bringing forth new innovations, growing its company through helping schools and its B2B customers. Sector 5 is working on getting its common stock traded on the OTCQB venture marketplace. In its filing with the SEC, Sector 5’s Form 8-A is extremely useful to investors considering the purchase of any newly issued or soon-to-be issued shares. Since many new companies do not immediately receive analyst coverage, savvy investors know that additional reporting due to filing this form will fill in the gaps in their research.
About Sector 5, Inc.
Sector 5, Inc. is a Nevada corporation, publicly traded (OTC: SFIV), that creates, manufactures and sells Sector 5 branded electronics utilizing Chrome, Android and Windows Operating Systems, focused on the educational and consumer electronics markets. Sector 5 and its manufacturing partners, "best in class" suppliers, and tier-1 designers are working together to combine American ingenuity and China’s manufacturing strengths to create products with the latest technology, innovative features (rugged designs, spill/drop resistant, portable) and fair pricing, exceeding market expectations. Sector 5’s distribution strategy centers on its competitive advantages in the B2B, retail, e-commerce, K-12 and higher education markets. Sector 5’s foundation of success and promise to the world is defined by a pursuit of simplicity and a commitment to innovation. Quality, reliability and excellent customer support is an integral component of that commitment. Further information can be found at www.sector-five.com and sectorfiveblog.wordpress.com.
Certain statements made in this release are "forward-looking statements" regarding the plans and objectives of management for future operations. Such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. Our plans and objectives are based, in part, on assumptions involving judgments with respect to, among other things, future economic, competitive and market conditions and future business and financial decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Although we believe that our assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this website will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein particularly in view of the current early stage of our operations and lack of sufficient financing, the inclusion of such information should not be regarded as a statement by us or any other person that our objectives and plans will be achieved. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the risk factors set forth in our periodic reports and other filings we make with the U.S Securities and Exchange Commission. We undertake no obligation to revise or update publicly any forward-looking statements for any reason, except as required by federal securities law.
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