Looks to be insiders and be restricted imo
Torbay Holdings Inc: REGDEX Filing following Private Placement By Shareholders, Directors and a Quill Mouse Distributor
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Business Editors NEW YORK--(BUSINESS WIRE)--TRBY-- (OTC:BB TRBY.OB) TRBY announces that various individuals associated with the company have, upon their own recognizance, approached the company with requests to purchase treasury and so restricted, stock. The company, under Blue Sky laws that prevail in most States, was required to file such documents (REGDEX) as applicable with the SEC and in the States that shareholders reside. For the avoidance of doubt; this was not an offer made by the company, but is an outcome of approaches by individuals who are investors and followers of TRBY on the TRBY board of the Investors Hub (iHub). These funds were is in addition to those received from Tony Marchant, TRBY's non-exec director, the conversion of a loan to the company by Gordon Lane, Chairman and also from the proprietor of ErgoType BV, Designer Appliance's Dutch distributor of the Quill Mouse. All told, gross receipts of over $150K are in the process of completion and clearance. This represents a significant portion of the $500K (net $400k after typical fees are applied) of new financing that the company anticipates it may require over the next 12 months for operations at current levels. Proceeds will be used in operations and in the financing of on-going investment in marketing and the progression of key milestones that are anticipated to further enhance shareholder value prior to securing other instruments of finance. There are no fees payable to any individuals or organizations associated with the receipt of these funds, only the costs of the regulatory fillings. Likewise there are no registration rights prevailing and so this issuance will have no immediate impact in the market as these shares will held for the duration under Regulation D rules. Tom Large, President & CEO stated, "I believe that this is exceptional, if not unique in the history of the OTC:BB for a company's shareholders to voluntarily step up to the plate in this way. It is my belief that there can be no better endorsement and show of confidence than to have shareholders proactively support their company like this. I am delighted and gratified that shareholders, directors and a distributor are prepared to show a significant and long term commitment to TRBY." The REGDEX filing was carried out in paper format and so the for full disclosure purposes a pdf copy (apologizes for the fax quality) of the filing will be listed on the www.trby.com website. KEYWORD: NEW YORK INDUSTRY KEYWORD: BANKING BANKING SOFTWARE COMPUTERS/ELECTRONICS SOURCE: Torbay Holdings Inc CONTACT INFORMATION: Torbay Holdings Inc Tom Large, 516-747-5955 tom@trby.com Corporate: www.trby.com Product: www.quillmouse.com
This is not a reco to buy! Please do your DD!
