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ZBB Energy Corporation Message Board

  • wtblanch5 wtblanch5 Jan 12, 2012 3:37 PM Flag

    Socius Position

    I'm late to the party with ice cold data, but I'm not sure we talked about the latest round of "just how much does (or did) Socius hold?"

    According to the latest 10-Q filed 11/14/11
    http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?dcn=0001102624-11-000742


    Shares Outstanding as of November 14, 2011
    Common Stock, $.01 par value per share
    32,519,942

    On September 8, 2011 the Company delivered the fifth and sixth tranche notices under the Socius Agreement pursuant to which on September 30, 2011 Socius purchased from the Company $1,447,240 of Series A preferred stock. In connection with the tranches, Socius purchased 2,621,359 shares of common stock for a total purchase price of $1,953,775 and at an average per share purchase price of $0.75. As consideration for the Common Stock Socius purchased, Socius issued a collateralized promissory notes maturing, the later of September 8, 2015 or when the Series A preferred shares are redeemed by the Company. Management expects to redeem the Preferred Shares on September 30, 2015. The promissory notes were recorded at a discount of $512,815 determined by discounting the promissory notes at a rate of 10%. The promissory notes are included in the stockholders equity section of the Company’s condensed consolidated balance sheets because the promissory notes were received in exchange for the issuance of common stock.

    In the latest investor presentation
    http://zbbenergy.mwnewsroom.com/getattachment/6b529cf8-4577-457e-9b00-db587f4b82c8/Investor-Presentation

    Socius is listed as of 9/30 as owning 9.6% of the shares ... 3,124,185 shares.

    Also mentioned there, as of 12/31/11 we're up to
    36,623,475 shares.

    But fully diluted with RSUs, options, etc: 44,542,872

    A big chunk of the increase in the 4th Quarter is described here:

    http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=8291323-882-10137&type=sect&TabIndex=2&companyid=165057&ppu=%252fDefault.aspx%253fcompanyid%253d165057

    On December 14, 2011, ZBB Energy Corporation (the “Company”) entered into Stock Purchase Agreements (the “Registered Direct Purchase Agreement”) with certain investors providing for the sale of a total of 1,425,000 shares of the Company’s common stock for an aggregate purchase price of $1,011,893 at a price per share of $0.7101 which was the closing price of the Company’s common stock on December 13, 2011 (the “Registered Direct Offering”). On December 13, 2011, the Company entered into Stock Purchase Agreements with a strategic investor previously known to the Company and certain Company officers and directors (the “Private Placement Purchase Agreement”) providing for the sale of a total of 1,167,340 shares of common stock for an aggregate purchase price of $875,505 at a price per share equal to $0.75 which was the closing price of the Company’s common stock on December 12, 2011 (the “Private Placement Transaction”).

 
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