Worlds.com, Pioneer of 3D Virtual Worlds Announces Private Placement Financing
Worlds, the pioneer and patented technology platform for 3D virtual communities announces that it completed a private placement of its common equity which raised $481,000 at a purchase price of $ .30 per share.
“Worlds raised these funds to continue our restructure and operations. Given the current market conditions we are pleased in the faith that our investors have placed in Worlds and our potential for the future” stated Thom Kidrin, CEO of Worlds.com.
Worlds’ users create avatars that navigate through virtual worlds as well as build their own worlds on a P2P network. The company is building on existing formats to improve entertainment, socializing, and marketing capabilities in the 3D online environment. Worlds’ users have a personal avatar which allows them to move, view, voice chat, send email, join discussion groups, listen to music, watch videos, and shop within virtual worlds community.
Worlds received its first US patent, number 6,219,045, for multi-user server technology for 3D applications, in 2001 and patent 7,181,690 B1 was granted in February 2007.