Malagueule's Lounge

[malagueule]

Cheeky Member Level Thursday, 09/29/16 04:35:07 PM
Re: Toxic Avenger post# 29176
Post #
29178
of 29192 Go
Deal with Ascendiant? Where is the deal, what is the deal, what are the terms, where are the terms, when did it close?

As for Wellington Shield's here's the Agreement and Terms STRAIGHT FROM THE FILINGS >>>

On May 12, 2016 the Company entered into three agreements with Wellington Shields and Co, LLC, the Company’s new investment banker.

In the first agreement, the Company engaged and retained Wellington Shields as its financial advisor as it relates to a private placement of up to $1,000,000, terminating at the close of business October 31, 2016. In consideration for the services rendered by Wellington Shields the Company agrees to pay a placement success fee equal to 10% of the gross proceeds and a warrant to purchase common shares of the Company equal to 4% of the amount of the placement at a purchase price equal to 110% of the implied price per share of the placement.

In the second agreement the Company engaged and retained Wellington Shields as a placement agent to Rx Safes, Inc as it relates to acquisition financing of up to $15,000,000, terminating at the close of business December 1, 2016. In consideration for the services rendered by Wellington Shields, the Company agrees to pay placement success fee equal to 8% of the gross proceeds of the placement, common shares equal to 3% of the outstanding shares of Rx Safes, Inc. post closing and a monthly accruing retainer of $10,000 per month, payable at the time of a financing at any amount of $5 million.

In the third agreement the Company engaged and retained Wellington Shields as its Exclusive Investment Banker for a twelve-month term as it relates to a Public Offering of up to $40,000,000 on a national exchange. In consideration for the services rendered by Wellington Shields the Company agrees to pay offering commission equal to 6% of the gross proceeds of the sale of the Company’s shares and offering warrants equal to 3% of the amounts raised at a purchase price equal to 110% of the implied price per share of the sale or 110% of the public market closing price of the Company’s common stock on the date of the sale, whichever is lower