If you reread my post forecasting expenses I too planned on those shares hitting market and added to net cost; cost being around 1.4. Principle borrowed was... cost repay at 1.4/ 400k interest pretty generous. Still within budget sir.
The initial round of funding in the amount of $555,000 was completed on June 9, 2014. The second round of funding in the amount of $330,000 is due within 15 days of the effectiveness of a registration statement, which must be filed within 60 days from the closing date. Also included in the financing are two warrants with an exercise price of $0.04 and $0.05, expiring in 3 months and 5 months, respectively, after the registration statement becomes effective and which can each raise the Company an additional $350,000.
