privately placed shares may or may not be dilutive (depends if issued from company treasury, which are already "isssued" shares, or if "newly issued" from authorized); but just about ALL are restricted shares, meaning investors/buyers can't sell for a period of time (usually at least a year) so the buyers are longer term holders and can't "dump" into market etc. MUCH MUCH more preferable than dilutive/toxic funding. In fact, it's a way for the company to raise $1MM WITHOUT DUMPING shares into the market.
16. Use of Proceeds
Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount is unknown, provide an estimate and check the box next to the amount.
$ 0 USD o Estimate
The $$ raised 'aint going into Sutton's or any other insiders' partners- still long and strong here (but 10K+ in the red), Hero or zero, LOL
From filing:
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