A Raleigh, North Carolina-based company filed plans to sell $1 million in a private stock offering, according to a Securities and Exchange Commission filing.

Inform System Technologies LLC filed the form D on Sep. 1. The company did not disclose what it intended to do with the proceeds.

The Raleigh-based company is a technology company that was newly formed by Willie Dickens on Aug. 17 this year.

$60,000 of the $1 million will be used for payments to Dickens, who is listed as executive officer, director and promoter of the company, according to the filing.

Companies relying on a Reg D exemption, such as Inform System Technologies, do not have to register securities offerings with the SEC, but must file a Form D electronically with the SEC after they first sell securities.

Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism