Good grief is right. Does the discover convertible
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Posted On: 06/17/2020 1:14:00 PM
Good grief is right. Does the discover convertible note really value the shares at approx $.13 ps?($2m/15.4m shares)
On December 9, 2019, we entered into a purchase agreement with Discover Growth Fund LLC (“Discover”), pursuant to which we issued and sold to Discover an original issue discount convertible note (the “Discover Note”) in the principal amount of $2,200,000, for a purchase price of $2,000,000. We also issued to Discover 140,000 shares of common stock.
This prospectus includes the resale of 15,540,000 shares of common stock issued or issuable to Discover, including 140,000 shares upon execution of the purchase agreement with Discover, and 15,400,000 shares of common stock issuable upon conversion of the Discover Note.
On December 9, 2019, we entered into a purchase agreement with Discover Growth Fund LLC (“Discover”), pursuant to which we issued and sold to Discover an original issue discount convertible note (the “Discover Note”) in the principal amount of $2,200,000, for a purchase price of $2,000,000. We also issued to Discover 140,000 shares of common stock.
This prospectus includes the resale of 15,540,000 shares of common stock issued or issuable to Discover, including 140,000 shares upon execution of the purchase agreement with Discover, and 15,400,000 shares of common stock issuable upon conversion of the Discover Note.
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