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Posted On: 02/22/2024 4:54:22 PM
Post# of 148873
Re: HHIGambler #141228
HHIGambler posted a good summary of the purpose of the S-1.
I was interested in more details, so I reviewed several portions of it. It is registering up to 141,019,099 shares of stock. There are approximately 200 names listed as selling stockholders. There were 986,058,436 shares of common stock outstanding as of February 1, 2024. It is important to note that the shares being registered will not necessarily be sold by the "Selling Stockholders". The company will probably not realize much proceeds from the exercise of warrants at this time because the exercise price of most of the warrants is $0.306/share and higher. I am inserting excerpts below of portions of the S-1 to give more details.
This prospectus relates to the resale of up to 35,792,347 shares of our common stock, par value $0.001 per share (the “common stock”), and 105,226,752 shares of our common stock underlying certain warrants (collectively, the “Shares”), by the selling stockholders identified in this prospectus under “Selling Stockholders.” The selling stockholders may sell all or a portion of the Shares from time to time, in amounts, at prices and on terms determined at the time of sale.
We are not selling any shares of our Common Stock under this prospectus and will not receive any proceeds from the sale of these Shares by the selling stockholders. We will, however, receive proceeds from any warrants that are exercised through the payment of the exercise price in cash. We will bear all other costs, fees and expenses incurred in effecting the registration of the Shares covered by this prospectus. All selling and other expenses incurred by the selling stockholders will be borne by the selling stockholders.
We are registering the offer and sale of the Shares pursuant to certain registration rights granted to the selling stockholders. The registration of these Shares does not necessarily mean that any of the Shares will be offered or sold by the selling stockholders. The timing and amount of any sale is within the sole discretion of the selling stockholders.
I was interested in more details, so I reviewed several portions of it. It is registering up to 141,019,099 shares of stock. There are approximately 200 names listed as selling stockholders. There were 986,058,436 shares of common stock outstanding as of February 1, 2024. It is important to note that the shares being registered will not necessarily be sold by the "Selling Stockholders". The company will probably not realize much proceeds from the exercise of warrants at this time because the exercise price of most of the warrants is $0.306/share and higher. I am inserting excerpts below of portions of the S-1 to give more details.
This prospectus relates to the resale of up to 35,792,347 shares of our common stock, par value $0.001 per share (the “common stock”), and 105,226,752 shares of our common stock underlying certain warrants (collectively, the “Shares”), by the selling stockholders identified in this prospectus under “Selling Stockholders.” The selling stockholders may sell all or a portion of the Shares from time to time, in amounts, at prices and on terms determined at the time of sale.
We are not selling any shares of our Common Stock under this prospectus and will not receive any proceeds from the sale of these Shares by the selling stockholders. We will, however, receive proceeds from any warrants that are exercised through the payment of the exercise price in cash. We will bear all other costs, fees and expenses incurred in effecting the registration of the Shares covered by this prospectus. All selling and other expenses incurred by the selling stockholders will be borne by the selling stockholders.
We are registering the offer and sale of the Shares pursuant to certain registration rights granted to the selling stockholders. The registration of these Shares does not necessarily mean that any of the Shares will be offered or sold by the selling stockholders. The timing and amount of any sale is within the sole discretion of the selling stockholders.
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