Dick, the answer to your question is it is both. The preferred, debt securities, warrants would have their own dilution aspects - depending upon their usage. The two insider sales are non-dilutive.
1) RODM may sell up to $75m via preferred stock sales, common stock, debt securities ($1,000 units), and/or warrants. The company would receive the full amount minus related fees/costs.
2) The two insiders are selling 3,000,000 shares - which RODM will receive zero funds. John J. Borer III will own, after his sales, 2,194,083-shares or 6.1% of the common stock. Paul Revere, LLC, after their sales, will own 9,961,683 shares or 27.7% of the common stock.
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".....From time to time, we may offer and sell shares of our common stock, shares of our preferred stock, debt securities, warrants and or units consisting of two or more of the foregoing types of securities, together or separately, in one or more offerings, at prices and on the terms that we determine at the time of the offering. The aggregate initial offering price of all the securities sold by us under this prospectus by us will not exceed $75,000,000.
In addition, the selling stockholders to be named in a prospectus supplement may offer, from time to time and in one or more offerings, up to 3,000,000 shares of our common stock. We will not receive any of the proceeds from the sale of shares of common stock by the selling stockholders.
We do not expect our preferred stock or warrants to be listed on any securities exchange or OTC market..."
So which is it? RODM selling shares to raise money or an offering for the two indicated individuals to sell their stock ( which would not be share dilution or money for the company )
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