Friday, July 01, 2016 2:34:36 PM
On June 30, 2016, BioRestorative Therapies, Inc. (the "Company") borrowed $500,000 from Tuxis Trust (the "Trust"). John M. Desmarais, a director and principal shareholder of the Company, serves as a trustee of the Trust, which was established for the benefit of his immediate family. The promissory note evidencing the loan (the "Note") provides for the payment of the principal amount, together with interest at the rate of 10% per annum, on July 1, 2017 (the "Maturity Date"). In the event that, prior to the Maturity Date, the Company receives net proceeds of $10,000,000 from a single equity or debt financing (as opposed to a series of related or unrelated financings), the Trust has the right to require that the Company prepay the amount due under the Note (subject to the consent of the party that provided the particular financing). In consideration of the loan, the Company issued to the Trust a five year warrant for the purchase of 40,000 shares of common stock of the Company at an exercise price of $4.00 per share.
Item 3.02.
Unregistered Sales of Equity Securities .
Between May 18, 2016 and June 24, 2016, the Company issued an aggregate of 97,500 shares of common stock of the Company at a purchase price of $4.00 per share. In consideration of the share purchases, the Company issued to the subscribers five-year warrants for the purchase of an aggregate of 97,500 shares of common stock of the Company at an exercise price of $5.00 per share.
Between May 11, 2016 and June 27, 2016, the Company issued an aggregate of 13,356 shares of common stock of the Company in consideration of services rendered. The stock was valued at $28,553.
Between June 6, 2016 and June 24, 2016, the Company issued an aggregate of 48,142 shares of common stock of the Company in exchange for outstanding indebtedness in the aggregate amount of $106,806, inclusive of accrued and unpaid interest.
See Item 2.03 above with respect to the issuance of a warrant for the purchase of 40,000 shares of common stock of the Company in consideration of a loan to the Company.
Recent BRTX News
- BioRestorative Therapies’ IFATS 2024 Presentation to Feature ThermoStem® Platform’s Potential to Deliver a Superior Efficacy and Tolerability Profile Over GLP-1 Drugs • GlobeNewswire Inc. • 09/19/2024 10:55:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/13/2024 08:30:50 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 08:11:03 PM
- BioRestorative Therapies Reports Second Quarter 2024 Financial Results and Provides Business Update • GlobeNewswire Inc. • 08/13/2024 08:05:00 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 08/08/2024 08:23:51 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/06/2024 08:47:26 PM
- BioRestorative Therapies to Report Second Quarter 2024 Financial Results and Host Conference Call on August 13, 2024 • GlobeNewswire Inc. • 08/06/2024 08:05:00 PM
- BioRestorative Therapies’ Chief Scientist Named New Section Editor of the Prestigious Journal of Translational Medicine • GlobeNewswire Inc. • 07/23/2024 11:10:00 AM
- BioRestorative Therapies Announces Notice of Allowance for Patent Covering Fundamental Aspect of ThermoStem® Metabolic Disease Program • GlobeNewswire Inc. • 06/27/2024 11:40:00 AM
- BioRestorative Therapies Regains Compliance with Nasdaq Listing Rule 5250(c)(1); Reports First Quarter 2024 Financial Results • GlobeNewswire Inc. • 06/17/2024 11:05:00 AM
- Shares of Biotech MicroCap Rip on Licensing Talks • AllPennyStocks.com • 06/13/2024 03:40:00 PM
- BioRestorative Therapies in Substantive Discussions for Potential License Agreement for ThermoStem® Metabolic Disease Program • GlobeNewswire Inc. • 06/13/2024 11:00:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/11/2024 08:28:30 PM
- Form 10-K/A - Annual report [Section 13 and 15(d), not S-K Item 405]: [Amend] • Edgar (US Regulatory) • 06/11/2024 08:23:50 PM
- BioRestorative Therapies, Inc. to attend the Jefferies 2024 Healthcare Conference • GlobeNewswire Inc. • 06/04/2024 12:50:00 PM
- BioRestorative Therapies Announces Receipt of Nasdaq Non-Compliance Notice • GlobeNewswire Inc. • 05/24/2024 11:45:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 08:51:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 08:45:27 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/16/2024 09:17:17 PM
- BioRestorative Therapies Provides First Quarter 2024 Business Update • GlobeNewswire Inc. • 05/14/2024 08:10:00 PM
- BioRestorative Therapies Enhances Preclinical Metabolic Program with a Novel Exosome-Based Biologic Targeting Obesity • GlobeNewswire Inc. • 05/08/2024 11:30:00 AM
- BioRestorative Therapies to Report First Quarter 2024 Financial Results and Host Conference Call on May 14, 2024 • GlobeNewswire Inc. • 04/30/2024 08:15:00 PM
- BioRestorative Therapies Announces Transformative Commercial Agreement with Cartessa, a Global Leader in Medical Aesthetics Technology • GlobeNewswire Inc. • 04/30/2024 11:30:00 AM
- Biotech Catches Major Premarket Bid Following FDA Clearance • AllPennyStocks.com • 04/16/2024 02:25:00 PM
- BioRestorative Therapies Announces FDA Clearance of Phase 2 BRTX-100 Clinical Study Protocol Amendment • GlobeNewswire Inc. • 04/16/2024 11:45:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM