Wednesday, November 26, 2014 9:36:58 AM
"On February 19, 2014, JBI, Inc. (the “Company”) entered into Subscription Agreements (the “Purchase Agreements”) with three investors (the “Purchasers”) in connection with a private placement of shares of the Company’s common stock and warrants to purchase shares of common stock (the “Warrants”). Pursuant to the Purchase Agreements, the Company agreed to sell and issue to the Purchasers an aggregate of 2.4 million shares of its common stock and Warrants to purchase up to an additional 2.4 million shares of its common stock. The closings of the transactions under the Purchase Agreements occurred between February 19 and 24, 2014. The purchase price per share was $0.05 and the gross proceeds to the Company were $120,000."
and then
"Between March 17, 2014 and March 26, 2014, JBI, Inc. (the “Company”) consummated a private placement with ten investors for the sale of 3.2 million shares of its common stock and warrants (the “Warrants”) to purchase up to an additional 3.2 million shares of its common stock pursuant to Subscription Agreements (the “Purchase Agreements”). The purchase price per share was $0.10 and the gross proceeds to the Company were $320,000. The Company plans to use the proceeds to fund working capital needs and for general corporate purposes. The Warrants are three-year warrants exercisable at any time during the three-year term and have an initial exercise price of $0.15 per share of common stock. The form of Purchase Agreement and Warrant are substantially the same as the form executed by the Company in connection with the private placement reported in the Company’s Form 8-K dated February 18, 2014, except for the increases in price per share and warrant exercise price."
and then
"On February 19, 2014, the Company issued to consultants a total of 1.5 million shares of common stock and warrants to purchase 2.5 million shares of common stock as certain compensation due for public relations and other consulting services to be provided to the Company."
and then
"On May 15, 2014 the Company issued 500,000 shares, 125,000 shares and 125,000 shares of restricted common stock pursuant to the February 19, 2014 consulting agreement to Bespoke Growth Partner’s Inc., Brewer Group Inc., and Greentree Financial Group Inc. respectively."
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