Zerify Inc (ZRFY)

[carusso]

Just saw that they changed the terms of the prospectus of August 15, 2022, to reduced the price from .02 to .01. If the warrants are exercised, it appears it would dilute common shares about 10%. However, the buyers have 5 years from the initial exercise date to convert their warrants to common shares, at .01. Previously, I recall, a similar prospectus indicated the price would be .05. Then that price was changed to .02. Each time, these prospectuses would appear to act as a fraud upon individual investors in the open market, by purporting to represent a current fair price of the stock, then changing it in a subsequent publication. Now the company will only get $500,000 from the sale of the shares in the recent prospectus, it states. This is only 20% of what was represented in a prior prospectus. IMO, this was inadvisable and reflects deteriorating conditions, not confidence in near or intermediate prospects for deals or substantial revenue.