Followers | 25 |
Posts | 2198 |
Boards Moderated | 0 |
Alias Born | 10/30/2014 |
Wednesday, August 14, 2019 7:52:59 AM
If you think Aitx is making money look again..
n December 7, 2018, the Company received the balance of $95,000 of proceeds from an investor for a $200,000 back-end note dated July 6, 2017 with an original principal amount of $105,000, including an original issue discount of $10,000, and maturing June 9, 2019. The note’s original maturity was July 6, 2018, but this maturity was extended on December 19, 2018. The other installments, totaling $95,000 (including an original issue discount of $10,000), on this note were received July and August 2018. The back-end note is convertible into common shares of the Company at a conversion price equal to 60% of the lowest trading price of the Company’s common stock for the last 20 trading days prior to conversion, and has an 8% per annum interest rate.
On February 1, 2019 the Company entered into an agreement with an investor whereby the investor would pay up to $900,000 (including a $92,000 payment made in January 2019) in exchange for a perpetual 9% royalty on the Company’s reported quarterly revenue. These royalty payments are to be made 90 days after the fiscal quarter. If the royalty payments would deplete RAD’s available cash by more than 20%, the payment may be deferred. The investor has agreed to pay the remaining $808,000 over an eleven-month period in minimum $60,000 monthly installments, commencing February 1, 2019. If the total investment turns out to be less than $900,000, this would not constitute a breach of the agreement, rather the royalty rate would be adjusted on a pro-rata basis.
Wow investors should take note here...
totally screwed. besides paying 9% to investor (SG) ahem, true investors are be wayleighed.....
Aitx way not to go...always read the financials...
Recent AITX News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/19/2024 10:05:22 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/16/2024 10:07:07 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/04/2024 10:06:29 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/03/2024 10:03:51 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/26/2024 10:03:30 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/21/2024 10:03:32 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/19/2024 10:08:57 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/15/2024 10:10:43 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/14/2024 10:10:47 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 10:03:44 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 10:03:06 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/07/2024 10:03:34 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/05/2024 10:04:05 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/01/2024 10:16:27 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/30/2024 10:10:15 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/23/2024 10:04:54 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/19/2024 10:05:21 AM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 07/18/2024 08:22:26 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/16/2024 10:03:31 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/15/2024 08:00:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/15/2024 10:07:42 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/11/2024 10:04:29 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/10/2024 10:11:24 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 10:05:48 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/13/2024 10:02:33 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM