(a) Initial Purchase and Commencement of Regular Sales of Common Stock. Upon execution of this Agreement, the Company shall sell to the Investor and the Investor shall purchase (the “Initial Purchase”) 10,000,000 Purchase Shares (such initial Purchase Shares, the “Initial Purchase Shares”) for aggregate consideration of $800,000 (the “Initial Purchase Amount”). Upon the satisfaction of the conditions set forth in Sections 7 and 8 hereof (the “Commencement” and the date of satisfaction of such conditions the “Commencement Date”) and thereafter, the Company shall have the right, but not the obligation, to deliver to the Investor from time to time a Purchase Notice directing the Investor to buy Purchase Shares (each such purchase a “Regular Purchase”) in any amount up to 2,500,000 Purchase Shares per Purchase Notice at the applicable Purchase Price on the applicable Purchase Date; provided, however, that in no event shall the Purchase Amount of a Regular Purchase exceed One Million Dollars ($1,000,000) per Business Day. The Company may deliver multiple Purchase Notices to the Investor; provided, however, that at least one (1) Business Day shall have elapsed between (i) the date on which the Investor has received all of the Purchase Shares as DWAC Shares in connection with the most recent prior Regular Purchase and Accelerated Purchase (as applicable) and (ii) the date of delivery of a Purchase Notice to the Investor by the Company. Notwithstanding the foregoing, the Company shall not deliver any Purchase Notices during the PEA Period.
Theres, it's confusing trying to figure out who's making these purchases in after hours, but Lincoln does have a 10M purchase agreement with ACT, and over the last 4 days in after hours trading there's been ound 5M traded. So if over the next 4 days if another 5M is during after hours, and then it stops, I think we can assume that it was Lincoln doing the purchasing.
These legal agreements and contracts between businesses are far to confusing for the average individual shareholder to comprehend, and thats why Warren Buffett says the individual investor should invest in index funds, because we are minnows swiming with amongst sharks, when trying to pick our own stocks. So why do we do it? Probably its a combination of the love for speculation(gambling) and greed in trying to hit that big one, like the California Gold Rush of the mid 1800's.
Dojo, that seems to be what is happening these past 4 days. And it looks like they're about half way there on the 10M purchase deal. I guess sections 7 & 8 will tell us when they need to complete the total purchase, but it seems like a good sign that they're buying now, hopefully it's because that there's some good news about to break.