Just being realistic here. Its not really hard to understand the filing.
Clear and Simple actions leading to massive dilution greatly for the benefit of DIP Ltd.
From SEC Form 8-K
"In addition, the Amendment included an adjustment to the exercise price of the 621,470,562 Warrants issued and sold to the Seller on April 16, 2021, from $0.021 per share to a nominal price per share, which the board of directors of the Company (the “Board”) subsequently determined to be $0.001 per share. Each of the Warrants continues to be exercisable until April 16, 2031".
"On March 6, 2023, the holders of a majority of the issued and outstanding stock of the Company approved an increase in the Company’s authorized capital from 3,500,000,000 shares of common stock, par value $0.001 per share, to 5,000,000,000 shares of common stock, par value $0.001 per share (the “Authorized Capital Increase”). On May 5, 2023, the Company formally completed the Authorized Capital Increase by filing a Certificate of Amendment with the Nevada Secretary of State, a copy of which is attached hereto as Exhibit 3.6".
Item 8.01 Other Events
On April 24, 2023, the Board approved an amendment to the exercise price of an aggregate of 410,000,000 previously-issued Warrants (collectively, the “2022 Warrants”) and an aggregate of 152,000,000 previously-issued stock options (collectively, the “Options”, and together with the 2022 Warrants, the “Issued Securities”) from $0.025 to $0.005 per share, and concurrently adopted an Option and Warrant Exercise Process and Share Sales Policy (the “Policy”),
This is why the increased of Authorized Shares from 3.5 Billion to 5 Billion common shares.
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