My bad,
As I read the filing closer, looks like investment banker is the placement agent rather than the buyer. Either way, looks like ZIVO finally has some money coming in. Now a question of what are the terms surrounding this money. Blows me away mgmt gets financing when the stock price is basically hovering around ALL TIME LOWS. Told Dahl years ago he need to maintain stock price as best possible which includes proper communication with shareholders. He has failed to do so. Finally getting some money in but can probably guess the terms are highly dilutive. 10% fee on placing the shares and a pile of warrants added on top no doubt. Mgmt should be so proud.
On the bright side, assuming most or all the shares are placed, the number 1 excuse of the last couple years should be removed and forward progress to commercialization should move much more quickly. We'll be able to find out if Dahl can produce or not.
I'll bet the recent ZIVO website updates and revisionist "news" history is probably related to this stock offering needing to show what's been going on with the company so a prospective investor would have some more information to help with their decision. If an investor read the SEC filings they'd run away. Funny how that is eh? Some of the new papers on the website are an interesting read and give a glimpse into some of what the company is trying to pursue. To bad current investors haven't been informed of anything.
ZIVO communication opportunities
1. How's Vero Beach facility just passed by massive hurricane ? Material information.
2. Announce engagement of IB and inform on PP. Pretty much standard practice for a public company to PR this activity. The average Joe does not read SEC filings. This should be PR no later than Monday. No excuse. Material information.
3. Lay out SPECIFICALLY the path to commercialization (which has been shared in other offering presentations BUT NOT SHARED WITH COMPANY SHAREHOLDERS) and WHEN the work is expected to be completed. Everyone knows the FDA is a wildcard. I believe they've already got consultants on board for this but I would hope they will proactively engage the FDA along the way to make sure theyhave what they need for submission.
Wonder if Dahl will end his shareholder presentation with the good old "onward and upward" again. LOL.
Amigo Mike
