Past year: ▲ 156%(0.02c – 0.23c USD)
Each one in plain English, with the numbers worked through for a shareholder.
28 June 2016capital raising announcement● NeutralMajor
On June 24, 2016 the company issued 2,812,500 shares to the Bentivoglio and Sgro family trusts in exchange for all shares of 2375757 Ontario Inc., which held Bentivoglio's 2014 rights to market the heart monitor in Canada. Together with the Bozza deal, the company says it has re-acquired all Canadian marketing and distribution rights to its monitor. This adds shares for insiders' trusts, which dilutes other holders.
22 June 2016capital raising announcement● NeutralMajor
On June 16, 2016 the company paid Nick Bozza CAD $1,025,000 (about US$850,000) to take back his Ontario distribution rights for the cardiac monitor, end certain debts owed to him, and buy 20,000,000 of his company shares. It also holds an option, to May 6, 2018, to buy his remaining 9,812,500 shares for US$500,000. The company also sold 2,500,000 shares and warrants to Zhenli Xu for $375,000, and 10,000,000 shares and warrants to entities controlled by Ian Genoa and Michael Ho for $1,000,000, with warrants at $0.25. This resolves the open question of Bozza's role as a major shareholder and licensee, while the new share sales dilute other holders. The filing does not say whether the 20,000,000 shares are cancelled or held by the company.
24 Sept 2015capital raising announcement● Neutral
The company completed a round of $205,000 (the text also says $210,000) from five investors, including three people tied to Medpac, and issued 4,100,000 shares plus warrants for 4,100,000 shares at $0.10 for about four years. It also agreed to issue 320,000 shares to Medpac for coordinating the Australian sales. This continues the small share-and-warrant raises and dilutes existing holders.
What it means for a shareholder
4.1m new shares at US$0.100 to raise about US$210,000. That's 3.6% dilution: every existing holder's slice gets 3.6% smaller. If you held US$1,000 of shares (10,000 at the issue price), your slice goes from 0.00914% to 0.00881% of the company. To keep it you'd need 375 more shares - about US$38 at the issue price.
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25 Aug 2015capital raising announcement▼ BadMajor
On August 19, 2015 the company confirmed an extension to June 1, 2016 of a Cdn$583,000 loan, originally made May 20, 2014 to 2340960 Ontario Inc., and agreed to a further Cdn$63,855 loan, both at 12% compounded monthly. The company guaranteed the loan, secured by a lien on all its assets, and gave the lender 600,000 shares and four-year warrants at $0.10. The principal executive office moved to Boynton Beach, Florida. This debt was not in earlier filings and puts a lien on all company assets.
14 Aug 2015capital raising announcement● Neutral
In August 2015 the company raised $110,000 from four investors, including affiliates of two principal shareholders and its counsel's partner, giving shares and four-year warrants at $0.10. About $80,000 is to go to Contex Engineering to develop the Now Cardio device. This is small-scale funding that dilutes existing holders and continues work on the cardiac monitor.
11 Mar 2015capital raising announcement▲ GoodMajor
On March 5, 2015 the company received $200,000 of an agreed $500,000 investment from Medpac Asia Pacific PTY Ltd., for an 8% convertible note due January 31, 2018, convertible at $0.15 per share. In return the company agreed to give Medpac exclusive distribution of BreastCare DTS and Now Cardio in Australia and certain Southeast Asian countries for five years, and it can renegotiate if the remaining money is not received on time. A press release describes it as the first tranche of a $2,000,000 distribution agreement. This is the first outside funding for the product plans since the license, and the note could dilute shareholders if converted.
2 Feb 2015capital raising announcement● Neutral
The company sold shares to two investors in late January and early February 2015: 250,000 shares plus warrants for 250,000 more shares at $0.20 (expiring January 31, 2016) to Louis Sitaras for $25,000, and 800,000 shares to Louis P. Solferino for $72,000 ($0.09 per share). Total proceeds are $97,000, and the new shares dilute existing holders.
10 Nov 2014capital raising announcement● Neutral
On November 7, 2014 the company sold 700,000 shares to an accredited investor for $100,000. It also changed its name from Sunrise Holdings Limited to Event Cardio Group Inc., with the new ticker ECGI starting that day. The name change was approved by the majority voting holder on October 2, 2014, and it follows through on the plan announced in September.
27 Oct 2014capital raising announcement● NeutralMajor
The company's subsidiary, Efil Sub of ECG Inc., signed a license on October 17, 2014 with Life Medical Technologies for the BreastCare DTS breast-screening product, with exclusive distribution rights in the US, Canada and parts of Asia including China. The license carries 5% royalties and minimum annual royalties of $100,000 in 2015 and $200,000 per year after that. The company borrowed CAD $79,106 at 12% from an affiliate-owned lender, due December 1, 2015, and agreed to $501,000 of creditor releases, paid $125,000 in cash and $376,000 in shares. The filing says the company is still doing due diligence and will likely need to raise more money through equity, debt or convertibles to exploit the product. This adds a second product to the cardiac monitor plan.
4 Jan 2008capital raising announcement▲ GoodMajor
On January 3, 2008 the company closed a private placement of 75,000,000 units at $0.04 each for $3,000,000. Each unit was one share plus a warrant to buy another share at $0.10 for three years. CEO Xuguang Sun put in $1,500,000 of the total and two other non-affiliated investors the other $1,500,000, so a large number of new shares and warrants were created.
What it means for a shareholder
75.0m new shares at US$0.040 to raise about US$3.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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25 Oct 2007capital raising announcement● Neutral
Sunrise Mining Corporation (the company that later became Event Cardio Group) sold a $200,000 convertible note to its own CEO and President, Xuguang Sun, on October 22, 2007. It pays 8% interest, is payable on demand, and can be converted into shares at $0.10 each, so it could dilute other shareholders if converted.
