The Securities Purchase Agreement contains various affirmative covenants that require the Company to, among other things, timely file all reports with the United States Securities and Exchange Commission (the “ Commission ”); provide the Investors with copies of the Company’s Commission reports and press releases; reimburse Merida $17,500 for legal fees and expenses associated with the transaction; reserve shares of common stock for issuance upon exercise of the Warrants and Bonus Warrants; provide Merida a right of first refusal for future offerings; enter into a consulting agreement with Merida prior to 30 days following closing on terms amenable to the Company and Merida; maintain the Company’s DTC eligibility; ensure that the Company’s outstanding preferred stock is converted to common stock on or prior to October 31, 2018; and take all necessary action to appoint two nominees of Merida as members of the Company’s Board of Directors.
IMO this is why pelosi had to sell some.
I'm a human being being human.
