We don't need money now but I guess it couldn't hurt, although I'd rather do it at 2 Bucks. Who knows?
Not sure about the 5 days I couldn’t find a reference except that we cannot go back to the well for 5 days after selling shares to them and that the transfer agent has to deliver the shares in 5 days.
“The Company may deliver multiple Regular Purchase Notices to the Investor so long as at least five (5) Business Days have passed since the most recent Regular Purchase was completed.”
“the failure for any reason by the Transfer Agent to issue Purchase Shares to the Investor within five (5) Business Days after the applicable Purchase Date which the Investor is entitled to receive“
“Purchase Price” means the lower of the (A) the lowest Sale Price of the Common Stock on the Purchase Date and (B) the arithmetic average of the three (3) lowest Closing Sale Prices for the Common Stock during the twelve (12) consecutive Business Days ending on the Business Day immediately preceding such Purchase Date (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction).
As info here are the closing prices for the last 15 days or so.
1.22
1.18
1.16
.92
.89
.91
.91
.92
.87
.88
.86
.85
.86
.89
.87
.88
.84
.88
I could be wrong, but I couldn’t find it, example if we went to the well 2 days ago the shares would be sold at .85 ish but IMO it has to be above the floor price that would then set the bar at 12 days above the floor price of 1 Dollar.
“Purchase Price Floor. The Company and the Investor shall not effect any sales and purchases under this Agreement on any Purchase Date where the Purchase Price for any purchases of Purchase Shares would be less than the Floor Price. "Floor Price" means $1.00, which shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction.”
IMO 12 Days (I guess?)
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