Each one in plain English, with the numbers worked through for a shareholder.
2 Apr 2019capital raising announcement● Neutral
On March 27, 2019 the company sold 800,000 shares at $0.005 per share for $4,000 to one private investor. New shares dilute existing holders. Two other 8-Ks filed the same day report 500,000 shares for $2,500 on the same date, so it is unclear how many separate sales occurred.
What it means for a shareholder
800,000 new shares at $0.005 to raise about $4,000. That's 0.297% dilution: every existing holder's slice gets 0.297% smaller. If you held $1,000 of shares (200,000 at the issue price), your slice goes from 0.0744% to 0.0742% of the company. To keep it you'd need 595 more shares - about $3 at the issue price.
On December 10, 2018 the company and Meyers & Associates signed a second amendment to the settlement note, conditional on a $20,000 balloon payment on or before November 21, 2018. The company is then to pay $1,500 monthly from January 1 through June 1, 2019, with all remaining principal and interest due July 1, 2019, pushing the final payment back from December 1, 2018. The filing does not say whether the $20,000 was paid.
20 Nov 2018capital raising announcement● NeutralMajor
On November 14, 2018 the company sold 11,500,000 shares at $0.0063 per share for $72,450 to one accredited private investor. This is far larger than any 2018 sale reported so far (previously $1,000-$10,500) and the new shares dilute existing holders. The filing does not say what the money is for (inference: it may relate to the $20,000 balloon payment due to Meyers & Associates by November 21, 2018, but the filing does not link them).
What it means for a shareholder
11.5m new shares at $0.0063 to raise about $72,450. That's 4.3% dilution: every existing holder's slice gets 4.3% smaller. If you held $1,000 of shares (158,730 at the issue price), your slice goes from 0.0621% to 0.0594% of the company. To keep it you'd need 7,144 more shares - about $45 at the issue price.
On September 24, 2018 the company signed a $9,000 promissory note with its CEO, CFO and director Walter Geldenhuys, maturing September 24, 2019. This is a new loan from an insider; the filing gives no interest rate, security or stated purpose. It adds to the earlier notes owed to him, whose status was last seen as due April 2011.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the June 21, 2018 limited-scope agreement with Schmeiser, Olsen & Watts, and re-attaches that agreement. It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the January 21, 2018 share sale. It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the March 6, 2018 share sale. It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the August 1, 2018 amendment of the Meyers & Associates note, and re-attaches the amendment agreement. It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the July 17, 2018 share sale. It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the March 19, 2018 share sale. It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the May 18, 2018 share sale. It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the April 30, 2018 share sale. It carries no new business or financial information and does not resolve the conflict between the two earlier April 30 reports (250,000 vs 750,000 shares).
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the April 5, 2018 share sale. It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the February 21, 2018 share sale. It carries no new business or financial information.
This amendment only adds the emerging growth company cover-page text to the earlier report dated July 3, 2018. The only exhibit listed is a July 10, 2018 press release titled 'Advanced Voice Recognition Systems, Inc Files Infringement Complaint Against Apple, Inc.' Its title indicates the company filed the long-anticipated patent suit, which was previously described only as 'forthcoming' litigation; the amendment itself gives no details of the complaint (court, patents or relief sought).
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the April 30, 2018 share sale (re-attaching the form of stock purchase agreement). It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the January 31, 2018 Meyers & Associates settlement. It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the December 20, 2017 share sale. It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the October 26, 2017 share sale. It carries no new business or financial information.
This amendment only adds the emerging growth company checkbox text to the cover page of the earlier report on the November 9, 2017 share sale. It carries no new business or financial information.
On August 1, 2018 the company and Meyers & Associates amended the $52,385.46 settlement note from January. The company is to pay $6,000 by August 1, $1,500 a month from September 1 through November 1, 2018, and the remaining principal and interest on December 1, 2018, pushing the final payment back from August 1. This continues the fee-dispute settlement and extends the deadline for the lump-sum payment.
On July 17, 2018 the company sold 700,000 shares at $0.015 per share for $10,500 to one private investor. The price is far above the $0.002-$0.004 of recent sales; new shares dilute existing holders.
What it means for a shareholder
700,000 new shares at $0.015 to raise about $10,500. That's 0.274% dilution: every existing holder's slice gets 0.274% smaller. If you held $1,000 of shares (66,667 at the issue price), your slice goes from 0.0262% to 0.0261% of the company. To keep it you'd need 183 more shares - about $3 at the issue price.
On June 21, 2018 the company, Buether Joe & Carpenter and Schmeiser, Olsen & Watts LLP signed a new limited-scope agreement for the firm to act as local counsel in 'forthcoming litigation' in the U.S. District Court, District of Arizona, with a $2,500 evergreen fee advance (down from the $3,000 in the March 2017 engagement). The company can terminate at any time. This shows the Buether Joe & Carpenter arrangement was still in place in June 2018; no lawsuit is reported filed.
On May 18, 2018 the company sold 1,300,000 shares at $0.0035 per share for $4,550 to one private investor. New shares dilute existing holders.
What it means for a shareholder
1.3m new shares at $0.0035 to raise about $4,550. That's 0.516% dilution: every existing holder's slice gets 0.516% smaller. If you held $1,000 of shares (285,714 at the issue price), your slice goes from 0.114% to 0.113% of the company. To keep it you'd need 1,481 more shares - about $5 at the issue price.
On April 30, 2018 the company reported selling 750,000 shares at $0.004 per share for $3,000 to one private investor. A separate 8-K filed the same day reports 250,000 shares for $1,000 on the same date, so it is unclear whether these are two sales or one corrected figure; new shares dilute existing holders.
What it means for a shareholder
750,000 new shares at $0.004 to raise about $3,000. That's 0.298% dilution: every existing holder's slice gets 0.298% smaller. If you held $1,000 of shares (250,000 at the issue price), your slice goes from 0.0997% to 0.0994% of the company. To keep it you'd need 748 more shares - about $3 at the issue price.
On April 30, 2018 the company reported selling 250,000 shares at $0.004 per share for $1,000 to one private investor. A second 8-K filed the same day reports a different amount for the same date, so the two filings conflict (inference: one may be an error or they may be separate sales); new shares dilute existing holders.
What it means for a shareholder
250,000 new shares at $0.004 to raise about $1,000. That's 0.0996% dilution: every existing holder's slice gets 0.0996% smaller. If you held $1,000 of shares (250,000 at the issue price), your slice goes from 0.0997% to 0.0996% of the company. To keep it you'd need 249 more shares - about $1 at the issue price.
On April 5, 2018 the company sold 1,800,000 shares at $0.0035 per share for $6,300 to one private investor. The price is higher than the $0.0025 of the March sales; new shares dilute existing holders.
What it means for a shareholder
1.8m new shares at $0.0035 to raise about $6,300. That's 0.713% dilution: every existing holder's slice gets 0.713% smaller. If you held $1,000 of shares (285,714 at the issue price), your slice goes from 0.114% to 0.113% of the company. To keep it you'd need 2,051 more shares - about $7 at the issue price.
On March 19, 2018 the company sold 700,000 shares at $0.0025 per share for $1,750 to one private investor. New shares dilute existing holders.
What it means for a shareholder
700,000 new shares at $0.0025 to raise about $1,750. That's 0.286% dilution: every existing holder's slice gets 0.286% smaller. If you held $1,000 of shares (400,000 at the issue price), your slice goes from 0.164% to 0.164% of the company. To keep it you'd need 1,148 more shares - about $3 at the issue price.
On March 6, 2018 the company sold 1,900,000 shares at $0.0025 per share for $4,750 to one private investor. Same size and price as the February 21 sale; new shares dilute existing holders.
What it means for a shareholder
1.9m new shares at $0.0025 to raise about $4,750. That's 0.773% dilution: every existing holder's slice gets 0.773% smaller. If you held $1,000 of shares (400,000 at the issue price), your slice goes from 0.164% to 0.163% of the company. To keep it you'd need 3,116 more shares - about $8 at the issue price.
On February 21, 2018 the company sold 1,900,000 shares at $0.0025 per share for $4,750 to one private investor. Slightly higher than the $0.002 of the prior two sales; new shares dilute existing holders.
What it means for a shareholder
1.9m new shares at $0.0025 to raise about $4,750. That's 0.773% dilution: every existing holder's slice gets 0.773% smaller. If you held $1,000 of shares (400,000 at the issue price), your slice goes from 0.164% to 0.163% of the company. To keep it you'd need 3,116 more shares - about $8 at the issue price.
