12 Oct 2018capital raising announcement▼ BadMajor
The company signed an equity purchase agreement (dated October 1, 2018) letting an investor buy up to $5,000,000 of new common stock over time. It also owes the investor a 1,428,571-share commitment fee and must register the resale of 15,000,000 shares plus the fee shares. For shareholders, this means new shares will be issued, which dilutes existing holders.