Duos Technologies Group Closes $1.8 Million Senior Secured Non-Convertible Note Financing

Provides Non-Dilutive Growth Capital for 2016 JACKSONVILLE, FL DUOT, (Marketwired April 06, 2016) Duos Technologies Group (OTCQB: DUOT), a provider of intelligent security analytical technology solutions, today announced the closing of a $1.8 million senior secured note financing with a single institutional investor. Aegis Capital Corp. was the sole advisor and placement agent for the financing. The note is senior secured and not convertible into the Company s stock. The note is scheduled to mature in three years. Use of proceeds include working capital, general corporate purposes and Duos settlement of $550,000 with Corky Wells Electric, which was agreed upon in October 2015 and resulted in a reduction from a total liability of $1.4 million. Gianni Arcaini, Chairman and CEO of Duos Technologies Group, stated, While we grew our business by 61% in 2015 mainly from internally generated cash flow, this additional funding will allow us to further grow our revenue over the next 12 months.
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