Digital Recorders makes new investments

Digital Recorders Inc. has completed two privately negotiated transactions and has pending a third, totaling $1.7 million in new investments in the company. The two completed transactions include a $1.5 million convertible subordinated debenture through Renaissance Capital Group and a $300,000 sale of restricted, unregistered common stock to Lite Vision Corporation. The pending transaction involves a $250,000 convertible subordinated debenture with a private investor that is subject to senior lender approval, which is expected to be completed in August.