How much more cash can they raise?
On September 1, 2017, the Company authorized 2,750,275 shares of common stock to be issued for $20,000 at $0.0727
On September 25, 2017, the Company authorized 3,387,534 shares of common stock to be issued for $20,000 at $0.0590
On October 4, 2017, the Company authorized 3,654,971 shares of common stock to be issued for $20,000 at $0.0547
On October 12, 2017, the Company authorized 4,208,754 shares of common stock to be issued for $20,000 at $0.0475
On October 25, 2017, the Company authorized 3,787,879 shares of common stock to be issued for $30,000 at $0.0792
On October 31, 2017, the Company authorized 3,156,566 shares of common stock to be issued for $25,000 at $0.0792
On November 13, 2017, the Company authorized 4,084,967 shares of common stock to be issued for $25,000 at $0.0612
On November 21, 2017, the Company authorized 4,037,468 shares of common stock to be issued for $25,000 at $0.0619
On December 4, 2017, the Company authorized 4,340,278 shares of common stock to be issued for $25,000 at $0.0576
33,408,692 shares issued since August 31,2017.
During the quarter ending August 31, 2017, the Company issued 22,095,545 shares of common stock for $210,000.
Total issued under EPA is 55,504,237.
Total authorized in registration statement was 72,400,000 which leaves 16,895,763 shares remaining.
$80,289 I all they have left to draw if the price didn't go any lower. Of course the price is going lower as the shares are sold so it will be even less they can raise.
Those 16.9M shares will compete with 19,886,363 shares that can be converted from the note. Then there are the 100M+ in Rule 144 shares that are eligible to trade in the near future!
With $40K in accounts payable as of August 31st which is probably more today and a maximum of $80K they can raise, they are probably insolvent now.
The only reason this could be played for a speculative gamble is there was little chance of bankruptcy. Now that they are at or near insolvency, it is very likely you will be wiped out completely very soon. The death spiral is in the final stages.
