In addition, WestPark acted as a co-underwriter, along with Rodman & Renshaw, LLC, in our public offering that we closed in October 2009. We sold a total of 3,125,000 shares of common stock in the public offering at $8.00 per share, for gross proceeds of approximately $25 million. As compensation for its services, WestPark received discounts, commissions and management fees of $348,136, a non-accountable expense allowance of $100,000, and reimbursement of roadshow expenses of approximately $6,100 and legal counsel fees (excluding blue sky fees) of $40,000. WestPark also received a five-year warrant to purchase 62,500 shares of our common stock at an exercise price of $10.00 per share.
The investment banking team of WestPark has been completing successful offerings for companies with operations in China for nearly 20 years. We will continue to exercise all of the aforementioned diligence on future offerings, as well as continuing to improve that diligence as conditions merit. We seek companies worldwide that are profitable, are in industries that we feel have tremendous potential, and are led by management teams that have demonstrated the ability to further that growth and maintain those fundamental controls that all successful companies exhibit.