The Company paid Scarsdale a placement fee of US $ 141,390 ( equal to 4.5 % of the gross proceeds received by the Company from the sale of the Shares ) in relation to the Offering . ( iv ) to use any remaining net proceeds of the Offering , including thenet proceeds from the exercise of the Agent 's Option , if any , forworking capital requirements and / or for other general corporatepurposes .