IR-MED put out an "8K" 5 days ago, seems to have s
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Posted On: 07/16/2025 5:08:40 PM
IR-MED put out an "8K" 5 days ago, seems to have some trouble with Williamsburg Holdings, LLC
As previously reported, IR-Med, Inc. (the “Company”) and Williamsburg Venture Holdings, LLC (“Williamsburg”) entered into an Equity Purchase Agreement (the “Agreement”) on March 11, 2025, pursuant to which Williamsburg agreed to invest up to Fifteen Million Dollars ($15,000,000) over a 24-month period.
On May 30, 2025, pursuant to the terms of the Agreement, the Company delivered a duly executed put notice to Williamsburg, relating to the sale of 4,629,630 shares of the Company’s common stock, at a per share price of $0.108, for an aggregate purchase price of $500,000. The Company fulfilled its obligations pursuant to the terms of the Agreement, including the timely delivery of the put shares. To date, Williamsburg has failed to remit the required $500,000 owed pursuant to the terms of the Agreement.
The Company has made multiple attempts to contact Mr. Ronald Glenn, the Managing Member of Williamsburg, with respect to Williamsburg’s failure to timely deliver the payment for the put shares, but to date has not yet received a response.
The Company will continue to seek payment for the put shares from Williamsburg and intends to pursue any legal means available to it to enforce the terms of the Agreement.
IR-MED closed yesterday at $0.03, no shares traded today.
https://www.otcmarkets.com/filing/html?id=186...n5GrJP2B3h
As previously reported, IR-Med, Inc. (the “Company”) and Williamsburg Venture Holdings, LLC (“Williamsburg”) entered into an Equity Purchase Agreement (the “Agreement”) on March 11, 2025, pursuant to which Williamsburg agreed to invest up to Fifteen Million Dollars ($15,000,000) over a 24-month period.
On May 30, 2025, pursuant to the terms of the Agreement, the Company delivered a duly executed put notice to Williamsburg, relating to the sale of 4,629,630 shares of the Company’s common stock, at a per share price of $0.108, for an aggregate purchase price of $500,000. The Company fulfilled its obligations pursuant to the terms of the Agreement, including the timely delivery of the put shares. To date, Williamsburg has failed to remit the required $500,000 owed pursuant to the terms of the Agreement.
The Company has made multiple attempts to contact Mr. Ronald Glenn, the Managing Member of Williamsburg, with respect to Williamsburg’s failure to timely deliver the payment for the put shares, but to date has not yet received a response.
The Company will continue to seek payment for the put shares from Williamsburg and intends to pursue any legal means available to it to enforce the terms of the Agreement.
IR-MED closed yesterday at $0.03, no shares traded today.
https://www.otcmarkets.com/filing/html?id=186...n5GrJP2B3h
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