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Kubient Inc (KBNT) RSS Feed

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(ii)  If the 2022 Net Revenue for the MC Business exceeds Base Net Revenue (any such excess amount of Net Revenue is referred to herein as the “2022 New Net Revenue”) by the amount set forth in the left hand column of the following chart, then Seller shall be entitled to receive the number of shares of Buyer Common Stock designated in the right hand column of the following chart (such aggregate number of shares is referred to herein as the “New Business Earnout Shares”; and together with the Base Business Earnout Shares, if any, the “Earnout Shares”):

 

 
2022 New Net Revenue
 
New Business Earnout Shares
 
$1,500,000 million
 
164,474
 
> $1,500,000 million but <$3 million
 
An amount equal to the sum of (i) 164,474, plus (ii) the product of 411,184, multiplied by a fraction the numerator of which is the amount of 2022 New Net Revenue in excess of $1,500,000 and the denominator of which is $1,500,000
 
$3 million or more
 
575,658

https://www.otcmarkets.com/filing/html?id=15400715&guid=RfSwkHUxZWc5Oth

"Kubient, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

Stock Options

During the three months ended September 30, 2021, the holder of an option under the 2017 Plan to purchase 2,815 shares of the Company’s common stock at an exercise price of $2.97 per share exercised such option resulting in cash proceeds of $8,361 to the Company.

Stock Warrants

During the three months ended March 31, 2021, warrants to purchase an aggregate of 2,169,021 shares of the Company’s common stock were exercised at prices between $4.20 and $6.25 per share, resulting in net cash proceeds to the Company of $9,274,911 (net of issuance costs of $433,127) and the issuance of an aggregate of 2,047,361 shares of the Company's common stock and five-year warrants to purchase 773,000 shares of common stock at an exercise price of $5.50 per share.

During the three months ended June 30, 2021, warrants to purchase an aggregate of 112,647 shares of the Company’s common stock were exercised at prices between $4.20 and $6.25 per share, resulting in net cash proceeds to the Company of $428,719 (net of issuance costs of $32,270) and the issuance of an aggregate of 108,961 shares of the Company's common stock and five-year warrants to purchase 94,286 shares of common stock at an exercise price of $5.50 per share.

 

A summary of the warrant activity during the nine months ended September 30, 2021 is presented below:

 

 

 

 

 

 

 

 

 

 

 

 

    

    

    

    

 

    

Weighted

    

    

 

 

 

 

 

Weighted

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

 

 

 

 

Number of

 

Exercise

 

Life

 

Intrinsic

 

 

Warrants

 

Price

 

In Years

 

Value

Outstanding, January 1, 2021

 

6,167,745

 

$

5.26

 

  

 

 

  

Issued

 

867,286

 

 

5.50

 

  

 

 

  

Exercised

 

(2,281,668)

 

 

5.04

 

  

 

 

  

Expired

 

 

 

 

  

 

 

  

Outstanding, September 30, 2021 [1]

 

4,753,363

 

$

5.42

 

3.8

 

$

 

 

 

 

 

 

 

  

 

 

  

Exercisable, September 30, 2021

 

4,753,363

 

$

5.35

 

3.8

 

$

 

[1]   Excludes five-year warrants to purchase 368,711 shares of common stock at an exercise price of $5.50 per share that are issuable upon exercise of certain warrants.

The following table presents information related to stock warrants as of September 30, 2021:

 

 

 

 

 

 

 

 

Warrants Outstanding

 

Warrants Exercisable

 

 

 

 

 

Weighted

 

 

 

 

 

Outstanding

 

Average

 

Exercisable

Exercise

 

Number of

 

Remaining Life

 

Number of

Price

    

Warrants

    

In Years

    

Warrants

 

 

 

 

 

 

 

 

$

4.20

 

368,711

 

3.0

 

368,711

$

4.95

 

177,223

 

1.5

 

177,223

$

5.50

 

3,998,459

 

4.0

 

3,998,459

$

6.25

 

32,500

 

3.9

 

32,500

$

6.38

 

176,470

 

4.2

 

176,470

 

 

 

4,753,363

 

3.8

 

4,753,363

2.5 million shares of dilution in 2021, net loss is 6 million last 9 months.


"

Preferred stock, $0.00001 par value; 5,000,000 shares authorized; No shares issued and outstanding as of September 30, 2021 and December 31, 2020

 

 

 

 

Common stock, $0.00001 par value; 95,000,000 shares authorized; 14,252,886 and 11,756,109 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively


"


https://www.otcmarkets.com/filing/html?id=15349883&guid=a7ywk6ImV7wyvOh
 
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