Replies to post #73623 on Charge Enterprises Inc (fka CRGEQ)

[ratso1]

CORRECTION to what was posted by Kraken!

I'm not exactly sure what you are correcting. Kraken posted verbatim what is from the SEC filings.

In any case, just to clarify what is going on, there can only be a single 504 $1,000,000 raise in a year. According to the notes submitted to PS.com, the company sold $705,556 of the original 6/2/09 Form D filing (page 36, "Part E Issuance History"):

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=29634

The Form D filing of 1/28/10 is for a raise of $299,944, which is the approximate balance of what is left from the 2009 raise of $705K. They would likely have completed that raise prior to 6/2/10, if they haven't already.

These Convertible debentures could be used for day-to-day operating expenses and advertizing until the company is running cash flow positive. I don't think I'd refer to it as death spiral.

What the company does with the money has nothing to do with whether the raise would be considered "death spiral". What matters are the terms of the offering, specifically as to whether it is floorless. Unless we were to have a prospectus to review the offering, there is no way to know.