Madison Technologies Inc (MDEX)

[tigerpac]

If Falcone has so much money why the need for offering (diluting) almost 400 million shares?

http://archive.fast-edgar.com/20211014/AL2O422CZM2RI9QN222M2ZY2NVKGZZ22Z232/

Even the numbers don't add up:


This prospectus relates to the disposition from time to time of up to 390,997,507 shares of our common stock, par value $0.001 per share (the “Shares”), which includes 99,462,245 shares of our common stock issuable upon the conversion of senior secured convertible promissory notes (the “Notes”), 99,462,245 shares of our common stock issuable upon the exercise of warrants (the “Warrants”) and 192,073,017 shares of common stock which are held by the Selling Stockholders. The Shares issued or issuable by us to the Selling Stockholders were sold in a private placement transaction that were completed on February 17, 2021.



Common stock offered by the Selling Stockholders Up to 390,997,507 shares of our common stock that may be issued to certain of the Selling Stockholders, which includes 99,462,245 shares of our common stock issuable upon the conversion of Notes, 99,462,245 shares of our common stock issuable upon the exercise of warrants and 192,073,017 shares of common stock.

Common stock outstanding before Offering:
1,563,990,027


Shares of common stock to be outstanding after this offering (assuming all shares of Common Stock are issued upon conversion and/or exercise)
1,762,914,517.

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If you are offering 390 million shares but the share count only goes up by 199 million shares then something is missing.

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The number of shares of common stock outstanding after this offering is based on 1,563,990,027 shares of common stock issued and outstanding as of September 27, 2021 and excludes the following:



? 192,073,017 shares of common stock issuable upon the exercise of outstanding warrants having an exercise price of $0.025 per share;

? 825,000,000 shares of common stock issuable upon conversion of outstanding convertible notes;

? Approximately 1.3 billion shares of common stock issuable upon conversion of our outstanding shares of convertible preferred stock.


So in reality the OS is really about 4 billion shares or 2.5 billion higher than what is presented.