Investors need to read this right out of the filin
Post# of 82672
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Posted On: 12/03/2020 2:51:36 PM
Investors need to read this right out of the filing
We intend to use up to $2,315,000 net proceeds from this Offering (if we sell all the shares being offered) for the growth of our new product “SafeVchat” video product and operations. Our management will have broad discretion in the application of the net proceeds and may spend or invest these proceeds in a way with which our stockholders disagree. The failure by our management to apply these funds effectively could harm our business and financial condition. Pending their use, we may invest the net proceeds from this Offering in a manner that does not produce income or that loses value.
PURCHASERS OF OUR COMMON STOCK MAY EXPERIENCE IMMEDIATE DILUTION AND/OR FUTURE DILUTION.
We are authorized to issue up to 14,000,000,000 shares of Common Stock, of which 151,907,989 shares were issued and outstanding as of October 30, 2020. We plan to issue approximately 668,449,198 common stock shares in connection with this Offering if fully subscribed. Our board of directors has the authority to cause us to issue additional shares of Common Stock without consent of any of our stockholders. In addition, at October 30, 2020, there were other securities convertible or exercisable into 167,251,847 shares of common stock made up of 157,324,670 shares of common stock available upon the conversion of convertible loans, 8,555,367 shares of common stock available upon the conversion of Series B Preferred stock, options exercisable into 633,000 shares of common stock, and warrants exercisable into 738,810 shares of common stock. Consequently, common stockholders may experience dilution in their ownership of our stock in the future and as a result of this Offering. If the Offering is fully subscribed, the non-subscribing common stock shareholders will hold less than 10% of our issued and outstanding stock collectively.
We intend to use up to $2,315,000 net proceeds from this Offering (if we sell all the shares being offered) for the growth of our new product “SafeVchat” video product and operations. Our management will have broad discretion in the application of the net proceeds and may spend or invest these proceeds in a way with which our stockholders disagree. The failure by our management to apply these funds effectively could harm our business and financial condition. Pending their use, we may invest the net proceeds from this Offering in a manner that does not produce income or that loses value.
PURCHASERS OF OUR COMMON STOCK MAY EXPERIENCE IMMEDIATE DILUTION AND/OR FUTURE DILUTION.
We are authorized to issue up to 14,000,000,000 shares of Common Stock, of which 151,907,989 shares were issued and outstanding as of October 30, 2020. We plan to issue approximately 668,449,198 common stock shares in connection with this Offering if fully subscribed. Our board of directors has the authority to cause us to issue additional shares of Common Stock without consent of any of our stockholders. In addition, at October 30, 2020, there were other securities convertible or exercisable into 167,251,847 shares of common stock made up of 157,324,670 shares of common stock available upon the conversion of convertible loans, 8,555,367 shares of common stock available upon the conversion of Series B Preferred stock, options exercisable into 633,000 shares of common stock, and warrants exercisable into 738,810 shares of common stock. Consequently, common stockholders may experience dilution in their ownership of our stock in the future and as a result of this Offering. If the Offering is fully subscribed, the non-subscribing common stock shareholders will hold less than 10% of our issued and outstanding stock collectively.
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All the information I post here is my opinion and is not advice to buy or sell a stock..Do your DD and research...GLTA
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