Full attribution to the The Real One and Only watts_n_a_name, excerpt from Visser agreement - but repeated from me just to spite the pumpers.
"Under the Visser MTA Agreement, we issued and sold to Visser in a private placement transaction (i) 30,000,000 shares of common stock at a purchase price of $0.10 per share resulting in proceeds of $3,000, and (ii) warrants to purchase 15,000,000 shares of common stock (subsequently increased to 18,539,762 shares under the anti-dilution provisions of the warrants) at an original exercise price of $0.22 per share (subsequently reduced to $0.18 per share under the anti-dilution provisions of the warrants), which expire on June 1, 2017. All of the shares of common stock issuable upon exercise of the warrants are subject to a lockup period through December 31, 2016."
Presumably, given the subsequent lawsuit currently in arbitration, this agreement might be settled for cash sooner than its expiration of warrants.
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