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  • investor1998 investor1998 Oct 29, 2011 2:50 AM Flag

    Are you screwed? stock is 60 pennies per company's private sale

    From September 7 through October 18, 2011, the Registrant sold to thirty accredited investors, in private placement transactions, an aggregate of 1,717,227 units at $0.55 per unit, resulting in gross proceeds to the Registrant of $944,483.55. Each unit represents a share of the Registrant's common stock and a warrant to purchase 0.30 shares of the Registrant's common stock at an exercise price of $0.60 per share. The warrants are fully vested and exercisable for three years from the date of issuance.

    Thhis means two shares for $1.15 for these special investors. And you get to pay twice on the open market. What a deal! Stock should be trading at 55 pennies based on sale of stock to private traders.

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