I spent about an hour reading this, this is my take, guys I’m not an attorney so take it for what it is worth. I think that we can tap it numerous times per week I think Z and JM are setting this up to move forward fast as soon as they are ready. Just my opinion,
I just looked and It looks like the “Floor Price” is still $1.00 but they cut em back to 100k shares a crack (but not more than $500k when it hits $5) unless the price is at $1.50 then applying fuzzy math (30% of the trading volume) we can get more the next day (up to 2 times the number of shares purchased) .
They also stretched the look back “close” price to 12 days. ( I’m going by memory so I could be wrong.)
At 2 Bucks we can go to 150k shares ($300k) in a day, 200k shares at $2.50 or $500k max.
This has peaked my interest “The Company may deliver multiple Purchase Notices to the Investor; provided, however, that so long as the Investor shall have received all of the Purchase Shares as DWAC Shares within one (1) Business Day after a Purchase Notice, at least one (1) Business Day shall have elapsed between the dates of delivery of any consecutive Purchase Notices to the Investor by the Company. Otherwise, one (1) Business Day shall have elapsed between (i) the date on which the Investor has received all of the Purchase Shares as DWAC Shares in connection with the most recent prior Regular Purchase and Accelerated Purchase (as applicable) and (ii) the date of delivery of a Purchase Notice. Notwithstanding the foregoing, the Company shall not deliver any Regular Purchase Notices during the PEA Period.”
“PEA Period” means the period commencing at 9:30 a.m., Eastern time, on the twentieth (20th) Business Day immediately prior to, and ending at 9:30 a.m., Eastern time, on the Business Day immediately following, the effective date of any post-effective amendment to the Registration Statement or New Registration Statement (as such terms are defined in the Registration Rights Agreement).
Help me with that one,,,, does that say that it is just one day per period when we cannot tap them, so we can tap them about every 3 days or so? Regular Order, Accelerated Order, Electronic share (DWAC) delivery, yadda yadda.
The old agreement read “The Company may deliver multiple Regular Purchase Notices to the Investor so long as at least five (5) Business Days have passed since the most recent Regular Purchase was completed.”
Again the new agreement “The Company may deliver multiple Purchase Notices to the Investor; provided, however, that so long as the Investor shall have received all of the Purchase Shares as DWAC Shares within one (1) Business Day after a Purchase Notice, at least one (1) Business Day shall have elapsed between the dates of delivery of any consecutive Purchase Notices to the Investor by the Company.”
At $1.50 we can hit them an average of about 3 times per week.
Based on that once we are done doing whatever we are doing below a buck, once those folks all get out then I think that we’ll kind of move in the Dollar to a Dollar fifty, sixty or seventy range.
All in all I prefer to have an open line of cash over nothing at all, once they get a partner they can go back over it, it cost us 200k shares for the commitment and honestly I think it was worth it. Now the share price just needs to work its way back up so we all stop moaning.
They will get it, the science is far deeper that most can comprehend; this is interesting to watch, cheerlead, criticize and try to predict.
I think this is what JM is doing, probably what he was working on and down the road the calls that he will be making almost on a daily basis.
Best of Luck, I’m still here and not thinking about selling a single share at this price.
Please feel free to correct me if you read this different.
X
AI
