Per the paragraphs below, as of 9/30/17 DECN has not received the $3.25 million related to the Preferred D shares.
From the 6/30/2017 DECN Management Discussion & Analysis filing...
Since March 2015 when we first we acquired special intellectual property and specialty manufacturing
equipment which will shall serve our business interests now and into the future. We have increasingly turned to Alpha
Capital Anstalt (“Alpha”), Navesink Device Initiatives and Licgo Partners, and most recently Sovereign Partners LLC
and Manhattan Global Ventures (the Bolivian partner) whereby these organizations either purchased an 18-month
15% OID derivative instruments or Preferred C stock units and/or Preferred D stock units, to facilitate the acquisition
of intellectual property or manufacturing equipment, or to finance our growth. In 1Q, 2Q and 4Q 2016 we completed
additional financing transactions with both Alpha and Licgo. In 2Q 2017 we accepted the Subscription of Manhattan
Global Ventures for a #$3.25 million investment, and in the current quarter we accepted the subscriptions of Sovereign
Partners LLC for an investment of up to $2.5 million with a $450,000 overallotment. These most recent investments
carry with them three year “lock up” terms, precluding share conversions for three years from the time of the offering.
From Note 11 of the 6/30/2017 Quarterly report...
During the quarter ended June 30, 2017, we issued 370 shares of preferred series “D” shares for subscriptions
receivable of $3,250,000. The subscriptions receivable has subsequently been received in full. The cash related
to the subscription receivable was received by the investor from China and is currently held by the Bank of
Spain. Release is expected in about 10 days, will immediately be rendered to the company by the investor’s
agent.
From the 9/30/17 DECN management Discussion & Analysis filing....
And lastly, the South American financier has notified
the company that he and those closely associated with him wished to subscribe to a $4.75 million ($3.25 alreadt
subscribed to) capital investment in the company. As of this writing the company has not concluded this capital
investment, at its choice, but will in 4Q 2017. Among the many terms in this investment, the South American financier
will not be able to convert and sell any securities that underlie the investment vehicle for 36 months from the time of
the investment.
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The $3.25 million subscription receivable was not booked on the 6/30/2017 asset side of balance sheet, rather in the equity section of the balance sheet. Since the 6/30/2017 AND the 9/30/2017 subscription receivable are the same, I don't believe DECN has "directly" received any of the $3.25 million as of 9/30/17.
