Xplore close to its goal for financing round - Austin Business Journal:

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million of a planned $1.9 milliob round of capital. Austin-basexd Xplore (OTCBB: XLRT), the developedr of impact-resistant tablet personap computers, started raising the money in February, accordinh a filing with the U.S. Securitiew and Exchange Commission. The filing also indicatesx that the company raisedf the capital through a combination of equithy anddebt financing. Last year, the compang raised $3 million in funding through astock sale.
Phoenix Venture Fund LLC, Xplore’s principalo stockholder, and an affiliated fund bought more than half of the promissor notes for the 25 million sharee Xplore sold at 12 cents a Xplore CEO Philip Sassower is also the CEO of SG Phoenixs LLCand co-manager at SG Phoenix Venturee IV LLC. Founded in Toronto, Canada, in 1996, Xplorr employs about 50 workers in Austin where it relocate d its headquartersin 2004. The companyy posted a $2.3 millioj loss for the quarter thatended Dec. 31, 2008, comparede with a $2.2 million loss during the same periodin 2007. Last Xplore announced it receiveda $1 million ordere for its iX104C4 tablet PC from an undisclosed pharmaceutical company.