Past year: ▼ 20%(0.04c – 0.05c USD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Oct 2022capital raising announcement● NeutralMajor
On October 7, 2022 the company agreed to sell 500,000 more Seed Preferred shares at $2.00 for $1,000,000 to one U.S. accredited investor and one non-U.S. person. Only $100,000 of the $1,000,000 had been received so far. This is a new tranche beyond the earlier 5,000,000-share offering, and as before, much of the subscribed money was not yet in.
24 Jan 2022capital raising announcement▼ BadMajor
This amendment corrects the picture of the second Seed Preferred tranche: the shares are issued only when subscription funds arrive, and $8,350,000 was still owed by two individual subscribers. Of the $10,000,000 of subscriptions accepted in October and November 2021, 4,675,000 shares remained unissued, so the earlier filing overstated how much cash had actually come in.
3 Dec 2021capital raising announcement▲ GoodMajor
On November 30, 2021 the company agreed to sell a second tranche of 4,675,000 Seed Preferred Shares at $2.00 each, for $9,350,000, to non-U.S. persons under Regulation S. Together with the first 325,000 shares, this made up the 5,000,000-share, $10,000,000 offering.
15 Oct 2021capital raising announcement● NeutralMajor
On October 8, 2021 the company sold a first tranche of 325,000 new Seed Preferred Shares at $2.00 each, raising $650,000, and adopted new articles authorizing 290,000,000 common and 10,000,000 preferred shares. Seed Preferred holders get paid 1.5 times their purchase price ahead of common shareholders in a liquidation, and have no voting rights, so common holders rank behind them.
