Mr. DFDBTB, As for the Form EFFECT, that was ac
Post# of 487
Posted On: 03/11/2015 5:45:11 PM
Mr. DFDBTB,
As for the Form EFFECT, that was actually issued by the SEC in response to our Form POSAM filed on March 4, 2015. All it means is the Post-Effective filing has been reviewed and declared “effective” by the SEC.
The purpose of the POSAM filing was to withdraw a Registration Statement on Form S-1 filed in November 2014 (declared effective by the SEC in January 2015). When we filed that registration statement the stock was trading around 2 cents so we put in a maximum price of 3 cents thinking it would be fine. However, the stock started performing rather well and we could not, in good faith, raise capital at 3 cents when the stock was at 10 cents. It is a good problem to have. We’ll look to raise capital at a higher price, which means fewer shares will need to be issued to raise the same amount of capital to further the business and eliminate the expensive debt we’ve had to take on.
This may have been more than you wanted to hear, but there are a lot of nuances when it comes to the SEC and their various forms we are required to file and maintain.
Have a great day!
Scott
As for the Form EFFECT, that was actually issued by the SEC in response to our Form POSAM filed on March 4, 2015. All it means is the Post-Effective filing has been reviewed and declared “effective” by the SEC.
The purpose of the POSAM filing was to withdraw a Registration Statement on Form S-1 filed in November 2014 (declared effective by the SEC in January 2015). When we filed that registration statement the stock was trading around 2 cents so we put in a maximum price of 3 cents thinking it would be fine. However, the stock started performing rather well and we could not, in good faith, raise capital at 3 cents when the stock was at 10 cents. It is a good problem to have. We’ll look to raise capital at a higher price, which means fewer shares will need to be issued to raise the same amount of capital to further the business and eliminate the expensive debt we’ve had to take on.
This may have been more than you wanted to hear, but there are a lot of nuances when it comes to the SEC and their various forms we are required to file and maintain.
Have a great day!
Scott
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