This was posted over there. Congrats to every
Post# of 43066
Posted On: 10/10/2014 12:17:44 PM
This was posted over there.
Congrats to everyone buying the new shares....<snicker>
From the TA:
Authorized: 250,000,000
Issued/Outstanding: 107,917,523 +6,834,191 +6.8%
Restricted: 38,162,968 +4,109,191 +12.1%
Float: 69,754,555 +2,725,000 +4.1%
I haven't had a change to check with the TA but am curious if it may be related to the language below.
Common Stock and Additional Paid in Capital
Concurrent with these subscriptions the Company entered into a consulting agreement with the investors and a fourth arm’s length party under which the Company would issue 1,500,000 shares upon commencement of the contract, and 1,000,000 shares on each of May 15, 2014, August 15, 2014 and January 15, 2015, respectively, for a total of 4,000,000 shares. Along with each of the forgoing share issuances, the Company is required to issue a commensurate number of warrants with a three year term and an exercise price of $0.10.. Additionally, under the terms of the consulting agreement the Company is committed to issue 1,000,000 additional shares if the Company becomes listed on the AMEX division of the New York Stock Exchange or NASDAQ. The consulting agreement also specifies contingent fees of 5% of the gross transaction amount for introducing a merger or acquisition candidate and 3% of fees earned from the introduction of a strategic or business partner.
Congrats to everyone buying the new shares....<snicker>
From the TA:
Authorized: 250,000,000
Issued/Outstanding: 107,917,523 +6,834,191 +6.8%
Restricted: 38,162,968 +4,109,191 +12.1%
Float: 69,754,555 +2,725,000 +4.1%
I haven't had a change to check with the TA but am curious if it may be related to the language below.
Common Stock and Additional Paid in Capital
Concurrent with these subscriptions the Company entered into a consulting agreement with the investors and a fourth arm’s length party under which the Company would issue 1,500,000 shares upon commencement of the contract, and 1,000,000 shares on each of May 15, 2014, August 15, 2014 and January 15, 2015, respectively, for a total of 4,000,000 shares. Along with each of the forgoing share issuances, the Company is required to issue a commensurate number of warrants with a three year term and an exercise price of $0.10.. Additionally, under the terms of the consulting agreement the Company is committed to issue 1,000,000 additional shares if the Company becomes listed on the AMEX division of the New York Stock Exchange or NASDAQ. The consulting agreement also specifies contingent fees of 5% of the gross transaction amount for introducing a merger or acquisition candidate and 3% of fees earned from the introduction of a strategic or business partner.
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