APT Systems Inc (APTY)

[FullDeck]

An absurd agreement with Triton Funds- now dead?

The deadline for the filing of the Registration Statement has passed:

On April 9, 2018, we entered into an Equity Purchase Agreement with Triton Funds, LLC (“Triton”). Under this Agreement, we may require Triton to purchase up to 60,000,000 shares of our common stock at a fixed price of $0.01 per share. Under a related Registration Rights Agreement, we are required to file a Registration Statement on Form S-1 for the shares within 30 days of the date of the Agreement. Triton’s purchase of the shares under the agreement is subject to the effectiveness of the Registration Statement as well as other customary closing conditions.

Buying 60,000,000 shares at .01 when APTY is currently at .005 would be nuts in any case.

Y'gotta wonder if they ever intended to go through with such a ridiculous deal in the first place, or if it was part of another "deal".

https://www.otcmarkets.com/stock/APTY/news/story?e&id=1065074

APT Systems, Inc. Announces Gift to Student-run Investment Fund Manager
To Better Finance Education and a Curriculum that Correlates with Financial Markets

SAN FRANCISCO, CA. , April 26, 2018 (GLOBE NEWSWIRE) -- APT SYSTEMS, INC., (PINK OTC: APTY) APT SYSTEMS, INC., a fully-reporting, publicly-traded, financial technology company, announced that is has gifted five million shares to benefit the student-run investment fund manager, TRITON FUNDS LLC; the donation supports the initiative founded by undergraduates from the University of California, San Diego (UC San Diego).

I mean, investing $600,000 at a fixed price greater than the current price? (Even at the time the agreement was first announced)

All these Triton Funds deals seem somewhat suspect to me.

None so far has resulted in the actual investment of dollars.

And given the terms of the deals... they shouldn't!

SEE:
Name any company Triton Funds has ACTUALLY invested in...
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