Duffy, Key -
I plucked this out of the filing that was released just following the earnings call earlier this week -- This certainly appears to refer to the note of last year, and not to the share issuance that connected to the up-listing.
Are we on the same page here?
"...This prospectus covers an aggregate of 434,877 shares of our common stock, consisting of (i) 242,131 shares of our common stock currently issuable upon the conversion of the Notes held by the selling stockholders, (ii) 84,746 shares of our common stock, which represent our estimate of the maximum number of additional shares of common stock that could become issuable upon conversion of the Notes in the event that the price-based anti-dilution provisions of the Notes are triggered, (iii) 80,000 shares of common stock currently issuable upon the exercise of the Warrants held by the selling stockholders, and (iv) 28,000 shares of common stock, which represent our estimate of the maximum number of additional shares of common stock that could become issuable upon exercise of the Warrants in the event that the price-based anti-dilution provisions of the Warrants are triggered.
On October 19, 2016, we completed a private placement of the Notes (in the aggregate principal amount of $1,000,000) and Warrants to the selling stockholders, under a Securities Purchase Agreement, for aggregate gross proceeds, before expenses, to the Company of $900,000. The Notes mature on October 17, 2017 and the Warrants expire on October 17, 2019. In connection with the private placement, the Company entered into the Registration Rights Agreement with the selling stockholders, pursuant to which the Company agreed to file a registration statement covering the shares of common stock included in this prospectus...."
