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Updated: GoFish Raises $1.5 Million In Private Placement; Board Members Invest

GoFish, the OTCBB-traded kids media company, has raised $1.5 million from unidentified investors in a private placement. The raise was done via convertible notes due 2010 and will convert at $2.06 per share. Note that GoFish (OTCBB: GOFH) currently trades at just $.29 per share. The specific purpose of the funding was not announced, other than that it will help the company implement its sales and marketing strategy. In December, the company said MTVN (NYSE: VIA) had taken a stake in it in exchange for the right to distribute some content. Like a number of companies, GoFish has recently gone down the ad network route, again, keeping its focus on youth. Release.

Updated: From the SEC filing, the list of the investors: they include James Moloshok (the Executive Chairman and a director) and Internet Television Distribution (