Alleyba says............
.............that item 3.02 is clear
The rest of the filing appears they can buy $2,000,000 of SCRC stock maximum.It goes to talk about share lending agreement which I suppose is the missing piece, but I believe that is collateral for GEM.
IMO GEM wants company to obviously succeed and be abler to exercise warrants. I would not be surprised to see a lot of buying coming in over the next few days due to contacts from GEM and its partners.65 countries..lots of foreign buying and we are getting prepared for China.I am looking for a nice move
NOW, THEREFORE , in consideration of the mutual covenants and other agreements contained in this Agreement the Company and the Investor hereby agree as follows:
1. Purchase and Sale of Common Stock. Subject to the terms and conditions of the Share Lending Agreement and the Subscription Agreements, the Company shall issue and sell to the Investor (or any of its affiliates) and the Investor shall purchase from the Company (or cause one or more of its affiliates to purchase from the Company) up to a maximum of $2,000,000 of Common Stock (the “ Maximum Limit ”) during the term of the Share Lending Agreement. Notwithstanding anything to the contrary, the parties expressly acknowledge and agree that this Agreement does not, and is not intended to be, and shall not be deemed to be or construed as, a commitment by Investor to purchase any shares of Common Stock from the Company or to provide any other financial accommodation to the Company, or by the Company to consummate such transactions. Investor’s willingness to purchase shares of Common Stock will be solely pursuant to the terms and conditions of the Share Lending Agreement and one or more Subscription Agreements, and is subject to the satisfaction of the conditions set forth therein.
