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DEOP $.03 warrant swap equity

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sludgehound   Tuesday, 11/19/13 09:04:23 AM
Re: e-ore post# 8371
Post # of 8407 
DEOP $.03 warrant swap equity

Here it seems a larger than planned common exchanged for warrants.
"The current exchange offer reflects Fuse's ongoing efforts to reduce its market overhang."
8.5M becomes 13.1M I guess warrants get more shares reducing the pool outstanding but at cost to current common. Maybe Company thinks future baggers will be impressed? $0.02 area gets interesting make or break.

Form 8-K for FUSE SCIENCE, INC.

19-Nov-2013

Entry into a Material Definitive Agreement, Unregistered Sale of Equity Securi

Item 1.01. Entry Into a Material Definitive Agreement.
The disclosure set forth below under Item 3.02, Unregistered Sales of Equity Securities is hereby incorporated by reference into this Item 1.01.

Item 3.02 Unregistered Sales of Equity Securities.
On November 18, 2013, we repurchased certain of our outstanding Series A Warrants (the "Series A Warrants") and Exchange Warrants (the "Exchange Warrants") from the holders thereof (the "Holders") through an exchange offer. The Series A Warrants were issued on March 7, 2013 pursuant to a Securities Purchase Agreement dated March 4, 2013, among the Company and certain investors and were scheduled to expire on March 7, 2018. The Exchange Warrants were issued in a private exchange offer completed on March 14, 2013 and were scheduled to expire on March 14, 2018. The current exchange offer reflects Fuse's ongoing efforts to reduce its market overhang.

Under Exchange Agreements entered into between the Company and the Holders, the Holders of Series A Warrants to purchase an aggregate of 4,323,199 shares of our common stock and Exchange Warrants to purchase an aggregate of 8,530,791 shares of our common stock agreed to exchange their Series A Warrants and/or their Exchange Warrants for an aggregate of 13,135,545 shares of our common stock (the "Exchange Shares").

The Exchange Shares are being issued to the Holders pursuant to the exemption from registration afforded by Section 3(a)(9) of the Securities Act of 1933, as amended.


It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.

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