Electronic Sensor Technology, Inc.
PIPE and Reverse Merger

Client
Electronic Sensor Technology is a developer of a patented breakthrough chemical vapor analysis process. EST’s product line eliminates key vulnerabilities in the homeland security market, namely commercial building heating, ventilating and air conditioning (HVAC) security, maritime port security, airport security and border security. EST products have many commercial as well as defense applications, and are presently being utilized by companies such as Lockheed Martin, Honeywell Corporation, SC Johnson and the United States Army.

Scenario
The recently elevated probability of a biological or chemical attack on the United States had greatly increased the need to provide fast and accurate methods of detecting and locating potential weapons threats. The company needed to raise capital to fund its working capital requirements to meet the increasing demand for its products.
 
Solution
Gemini Partners helped EST secure a $4.01 million PIPE financing, serving as financial advisor and placement agent. Concurrent with the financing, EST completed a reverse merger transaction with Bluestone Ventures, Inc. and now trades on the Over the Counter Bulletin Board under the ticker symbol ESNR.

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