uVuMobile, Inc.(fka UVUM)

[IRBeach]

All the financing have been done at the same price over the past several years even though the stock price has been trading well below the strike price of the warrants. This should tell you something about the companies willingness to do financings below the strike point of the warrant at.064. They do not want to further dilute the existing shareholder/s. As of May 15, 2009, the Registrant had 94,100,195 shares of Common Stock issued and outstanding.

http://finance.alphatrade.com/page/externalpage?src=http://xml.10kwizard.com/filing_raw.php?repo=tenk%26ipage=6346332


In 2008, the Company entered into an agreement (the “Securities Purchase Agreement”) to sell $448,000 of its 15% Secured Convertible Debentures (the “Debentures”) to institutional and private investors (collectively, the “Investors” or “Holders”). The Debentures bear interest at the rate of 15% per annum and mature in March 2011 (the “Maturity Date”). The Company shall pay interest to the holders of the Debentures quarterly on each of January 1, April 1, July 1, and October 1 of each year prior to the Maturity Date of the Debentures. The Debentures are also convertible into shares of the Company’s common stock at a conversion price of $0.064 per share, subject to adjustment in accordance with terms of the Debentures. Any voluntary conversion by the Investors of the Debentures is subject to a Beneficial Ownership Limitation (as defined in the Debentures). In addition, the Debentures are subject to a forced conversion (the “Forced Conversion”) in all or in part by the Company in the event that the daily volume weighted average stock price of the Company’s common stock for any twenty (20) consecutive trading days exceeds $0.256. The Debentures are secured by all of the assets of the Company pursuant to a Security Agreement. In connection with the Debentures, the Company issued warrants to certain investors that have substantially the same terms and conditions and give the respective Holders the right to purchase a total of 14,000,000 and 7,000,000 shares of the Company’s common stock, respectively, at an exercise price of $0.64 and $0.074, respectively, per share for a period of five (5) years.