RE;
1.8 million in cash on hand at end of last quarter. Convertibles @ $1.25, warrants @ $1.98 avg. November they said they had the license under review, over $1.6 million in product ready to be sold here.
Share Structure as of 01/07/2020
Authorized shares Unlimited
Outstanding Shares 11,498,759
Market Cap 4,800,000
52-Wk Range 0.2489 - 17.20
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https://chemesis.com/
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Quote:
During the year ended June 30, 2019, the Company completed two tranches of convertible debt financing for total
gross proceeds of $3,500,000. The first tranche of $2,000,000 closed on December 4, 2018 and the final tranche
of $1,500,000 closed on December 20, 2018. The convertible debentures bear interest at a rate of 8% per year and
mature two years from the closing date. The convertible debentures are unsecured and are convertible, at the
option of the holder, into common shares of the Company at a price of $1.25 per common share.
The Company has the right to repay and cancel the convertible debentures at any time prior to the maturity date
at a price equal to 105% of the principal amount of the convertible debentures then outstanding plus accrued and
unpaid interest thereon. In addition, the Company has the right to compel the conversion of the convertible
debentures in the event that the daily volume weighted average trading price of the common shares exceeds $2.50
per common share for 10 consecutive trading days.
Quote:
As of November 26, 2019, the Company’s Puerto Rican manufacturing and cultivation licenses are currently
subject to administrative review by the Department of Health in Puerto Rico and until the review has been
completed, the Company is not permitted to carry out licensed activities aside from preserving its inventory. The
Company has considered this in the preparation of these consolidated financial statements.
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