SiNtx Technologies Inc (SINT)

[boston745]

Only problem is Dr Link, Bal, & Mr Truetzel all were investors, investing large sums, prior to Sintx going public. It was only after the company went public they stopped investing and the stock price has been in pretty much non-stop decline since as well as non-stop bashing. Stock is still in decline despite growing revenue from biomedical and aerospace businesses. Not to mention a growing product portfolio and significant list of patent and patent applications.
Dr Bal invested over 1 million of his personal funds during the investment rounds. i previously estimated that to total about $1.4m.

Investors participating in the February 2010 closing that purchased at least 12,500 shares of our Series E convertible preferred stock had the right to convert, on a one-for-one basis, shares of our previously issued Series A convertible preferred stock, Series B convertible preferred stock, Series C convertible preferred stock and Series D convertible preferred stock already owned by the investor into a corresponding new series of our convertible preferred stock with a more favorable conversion rate. Directors, officers and beneficial owners of more than 5% of our common stock, on an as converted basis, and their affiliates participated in this conversion right as follows:

Name
Number of Shares of Series A-1 Convertible Preferred Stock Number of Shares of Series B-1 Convertible Preferred Stock Number of Shares of Series C-1 Convertible Preferred Stock Number of Shares of Series D-1 Convertible Preferred Stock

Max E. Link, Ph.D.
333,334 — — —

B. Sonny Bal, M.D.(1)
— 300,000 100,000 120,000

Dr Bal also invested in Series E & F rounds.

Name
Number of Units Purchase Price Number of Shares of Series F Convertible Preferred Stock Common Stock Warrants

Max E. Link, Ph.D.
2.0 $ 200,000 100,000 25,000

B. Sonny Bal, M.D.
1.5 $ 150,000 75,000 37,500

David W. Truetzel(1)
1.0 $ 100,000 50,000 25,000

https://www.sec.gov/Archives/edgar/data/1269026/000119312513435409/d593074ds1.htm pgs 105 & 108

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Sonny, to protect his longterm shareholder, put full ratchet antidilution clauses into his shareholder rights offerings:

The 26 2020 series B preferred converted into 17,505 shares at the original conversion price of 1.4814. This is about how many shares these would have converted into just before the 100:1 RS. The warrants did not have full ratchet anti-dilution protection and thus the holder(s) of these preferred shares lost out with a conversion price of about 150. Thus for the holder to come out even or ahead, they would need another 17,505 shares. However at current conversion rate, the holder(s) are looking at getting over 100k shares. Thus Sonny has effectively protected this longterm shareholder with interest. 26 units equates to an investment of 26,000. Thus for this holder to breakeven at current rates, they would need to sell at a price of .26. Any price over that the holder(s) come out with a profit.

The exact conversion of the series B preferred after the recent S-1/A is unknown so this is a rough estimate.