Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
3 May 2013capital raising announcement● NeutralMajor
On April 29, 2013 the company agreed to sell up to $500,000 of 9% convertible notes to accredited investors; $100,000 closed on May 1, 2013. Each note runs up to two years and can be converted into shares from 24 months after issue at 75% of market price. At the $0.245 May 1 price, the filing estimates up to about 2,721,089 shares could be issued on the full $500,000, so existing shareholders could be diluted.
18 Dec 2006capital raising announcement● NeutralMajor
On December 15, 2006, Chairman and CEO Michael Luciano converted $770,000 of company debt owed to him and his JFLI Trust into 3,080,000 new common shares (2,100,000 for $525,000 owed to him personally and 980,000 for $245,000 owed to the Trust). This cuts the company's debt by $770,000 but dilutes other shareholders. Luciano's stake rose from 71.5% to 79.0%, and the filing states this is a change of control.
