Upstream Worldwide (MFGD.OB) Posts Q2 Results, Notes Recent Capital Infusion
Upstream Worldwide Inc., a reverse logistics, direct-from-consumer recycler of precious metals and electronics, today reported its second-quarter financial results for the three months ended June 30, 2010, as well as the successful completion of an approximate $3 million equity financing. The company reports that on August 19, 2010 it sold 2,943,750 shares of a new Series B Preferred Stock and 73,593,750 warrants for gross proceeds of $2,943,750. Participation in the financing was comprised primarily of existing shareholders including Upstream CEO Doug Feirstein. "We are pleased to have completed this financing and are thankful for the confidence our investors have placed…