JAGH: 8-K out
JAGH is one of the rare companies whose stock price has stayed up handsomely in spite of YAGI dealings.
JAGH and YAGI just took care of a pesky 4.99% limitation I noted on another board recently.
http://www.sec.gov/Archives/edgar/data/1089029/000095012308001198/y48130e8vk.htm
"JAG Media and YA Global also agreed to increase the permitted maximum beneficial ownership of the Common Stock by YA Global upon exercise of the Warrants as set forth in the Warrants from 4.99% to 9.99% of the outstanding shares of Common Stock."
Various other YAGI-related activities with JAGH in that same 8-K
"Item 3.02 Unregistered Sales of Equity Securities
On January 31, 2008, JAG Media Holdings, Inc. (“Jag Media”) entered into a letter agreement (the “Letter Agreement”) with YA Global Investments, L.P., formerly Cornell Capital Partners, LP (“YA Global”),amending the terms and conditions of the previously disclosed Debentures, Warrants and other related documents between YA Global and Jag Media. Under the Letter Agreement, the parties acknowledged that $325,000.00 principal balance on the Debentures remained outstanding. YA Global agreed to promptly convert that outstanding Debenture balance and all accrued and unpaid interest aggregating $535,679 into restricted Jag Media Common Stock, par value $0.00001 per share (“Common Stock”) and to exercise on a cash basis a Warrant for 700,000 shares of Common Stock. On January 31, 2008, as a result of the conversion JAG Media issued 2,151,699 restricted shares of Common Stock and as a result of the exercise of the Warrants Jag Media issued 700,000 restricted shares of Common Stock and received $280,000 in cash. As a result of the conversion and termination of the Debentures, the restrictive covenants of the previously disclosed Securities Purchase Agreement, dated May 4, 2006, under which the Debentures and Warrants were issued, as well as the related Security Agreements, share reservation instructions, and Investor Registration Rights Agreements were terminated.
The parties also amended the remaining Warrants’ exercise price and exercise dates. The Warrants’ exercise price will be 88% of the average of the Volume Weighted Average Price of the Common Stock during the 30 trading days prior to their respective Exercise Restriction Dates. The Exercise Restriction Date, which is the date after which a Warrant may be exercised, shall be as follows:
1,300,000 shares
30 trading days following the closing of the proposed merger between Jag Media and Cryptometrics, Inc.
2,000,000 shares
March 31, 2008
2,000,000 shares
June 30, 2008
3,000,000 shares
September 30, 2008
3,000,000 shares
December 31, 2008
This agreement amending the Warrants’ exercise price and their Exercise Restriction Dates terminates on February 27, 2008 if the closing of the merger with Cryptometrics has not yet occurred. "
