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Monday, September 10, 2018 3:07:07 AM
Granted, the parameters of the Offering were not very clear. But in business, when you are offered a good deal, you look at taking it even if it goes against something you might have stated earlier. I WOULD BE THRILLED IF HE GOT MONEY AT $.015 PRE REVERSE, AS THAT EQUATES TO $0.75 A SHARE AFTER A 50 TO 1 REVERSE!!!
I doubled checked, a Reverse is NOT POSSIBLE until you are an audited fully reporting issuer, if you were ever listed as a shell company, which is the case here.
The Filing gave the company a year to raise the money, and he could take any portion of the $1.5 mil worth. Therefore the plan is to get the stock price up high enough to raise money at $.015 per share, and only take as much as was needed to ramp up revenues to a point that it was not a good deal to raise anymore money under the terms of that offering. (ie. if the stock was solidly trading at $.05 you would not need to raise money at $.015.)
I was not given inside information, just asked a couple questions about the filings and cleared up some unclear statements I had about the funding.
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