Carnegie Development Inc. (CDJM)

[BigBuy57]

There is no mistake. The primary use of the S1 filing is to register shares to raise capital. The shares will be sold via private placement, not "in the market".

Typically companies secure a lead institutional investor that will invest in about a third of the placement. As the company's "investment banker" it will then syndicate the remaining amount to be funded, bringing in two or three additional funds to spread the risk.

The capital is normally provided in three tranches over time and is subject to the company's showing progress in attaining its stated objectives. Most funds are long term investors, holding their shares until they appreciate in value.