IDAE - let's get real here:
They issued this month the equivalent of 5.7 million shares in exchange for $2.1 million - that's 37 cents per share.
Also, check history of stocks with Barry Honig involvement.
First comes the pump, then comes the _______.
On June 5, 2008, IdeaEdge, Inc., a Colorado corporation ("we," "us," "our," or the "Company"), entered into a subscription agreement (the “Subscription Agreement”) with four accredited investors pursuant to which we issued 12,000 shares of our Series A Cumulative Convertible Preferred Stock (the “Series A Stock”) and warrants to purchase an additional 1,818,182 shares of our common stock at an exercise price of $0.50 per share, in exchange for gross proceeds totaling $1,200,000.
This financing transaction resulted in net proceeds to us of $1,150,000, after deducting fees and expenses. RBW, Inc. (“RBW”) and GRQ Consultants, Inc. acted as finders in connection with the transaction and received 108,784 and 181,306 shares, respectively, (for a total of 290,090 shares) of our unregistered common stock as finders compensation. As further consideration for its services, RBW will receive an additional 120,000 shares of our common stock in compensation directly from the share holdings of our three founding stockholders, James Collas, Chris Nicolaidis and Jeffrey Hall. The agreement between RBW and the founding stockholders is subject to finalizing terms between the parties concerning proxies over voting the share holdings of RBW and other related stockholders.
Voluntary Conversion. Each share of Series A Stock is convertible at the election of the holders at any time into approximately 303 shares of our common stock, subject to increase under the anti-dilution provisions under the Certificate of Designation and the Subscription Agreement upon the occurrence of events as defined therein.
AI
