On November 12, 2012, the Company issued 200,000 shares of its Series B Convertible Preferred Stock to ACI in consideration for ACI’s patent relating to the Medical Keyring Device.
In July 2013, ACI elected to convert 190,000 shares of Series B Convertible Preferred Stock, issued in 2012, into 9,500,000 shares of the Company’s common stock.
During September 2013, the Company acquired license rights to ACI’s BioCentric Cloud Device technology in consideration of the Company’s issuance to ACI of 200,000 shares of its Series B Convertible Preferred Stock. Effective November 5, 2014, the Company increased the number of preferred shares designated as Series B, and accordingly, the shares were issued to ACI on November 10, 2014.
Medical Key Ring?
September 2017- more series B shares issued
Anyhow does this latest news item mean further issuance of Series B shares which convert at 50:1 ??
Time to deliver for the common shareholders. Happy to see the CEO make a lot of money and be awarded shares under a transparent process but can it be contingent upon delivering contracts and revenue?
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