My guess is an option that can be exercised at specific price sometime down the road. It will be added dilution for sure, as no one wants to loan a company money without current income, AND has the monster upside potential we have with our reserves. Everyone that plays wants a piece of the pie. Good Luck to all of us and I wish everyone a great & safe New Year! We are getting closer to a wonderful pay day!
They will problably do this again after they get the price per share up on news releases.
On January 28, 2008, Strata Oil & Gas Inc., a Canadian corporation (the "Company") closed a private placement of 1,700,000 common shares at USD $1.00 per share for a total offering price of USD $1,700,000. The shares were offered by the Company pursuant to an exemption from registration under Regulation S promulgated under the Securities Act of 1933, as amended. The shares were purchased by three non-US investors.
For all the provisions of the private placement subscription agreements reference is hereby made to such agreement annexed hereto as Exhibits 10.1. All statements made herein concerning the foregoing documents are qualified by references to said exhibits