Each one in plain English, with the numbers worked through for a shareholder.
25 Jan 2016capital raising announcement▼ Bad
On January 19, 2016 the company sold 600,000 shares at $0.005 per share for $3,000 to one private investor. Same price and size as earlier sales; new shares dilute existing holders.
What it means for a shareholder
600,000 new shares at $0.005 to raise about $3,000. That's 0.266% dilution: every existing holder's slice gets 0.266% smaller. If you held $1,000 of shares (200,000 at the issue price), your slice goes from 0.089% to 0.0888% of the company. To keep it you'd need 534 more shares - about $3 at the issue price.
On November 30, 2015 the company sold 800,000 shares at $0.005 per share for $4,000 to one private investor. Continues the pattern of small raises at $0.005; new shares dilute existing holders.
What it means for a shareholder
800,000 new shares at $0.005 to raise about $4,000. That's 0.362% dilution: every existing holder's slice gets 0.362% smaller. If you held $1,000 of shares (200,000 at the issue price), your slice goes from 0.0909% to 0.0905% of the company. To keep it you'd need 727 more shares - about $4 at the issue price.
A second 8-K for October 14, 2015 reports a further sale of 400,000 shares at $0.005 per share for $2,000 to one private investor. Together with the 700,000-share sale the same day, the filings show 1,100,000 shares sold for $5,500 (assuming they are separate investors/sales, which the filings imply but do not state); new shares dilute existing holders.
What it means for a shareholder
400,000 new shares at $0.005 to raise about $2,000. That's 0.181% dilution: every existing holder's slice gets 0.181% smaller. If you held $1,000 of shares (200,000 at the issue price), your slice goes from 0.0909% to 0.0907% of the company. To keep it you'd need 363 more shares - about $2 at the issue price.
On October 14, 2015 the company sold 700,000 shares at $0.005 per share for $3,500 to one private investor. Continues the small, low-priced share sales; new shares dilute existing holders.
What it means for a shareholder
700,000 new shares at $0.005 to raise about $3,500. That's 0.317% dilution: every existing holder's slice gets 0.317% smaller. If you held $1,000 of shares (200,000 at the issue price), your slice goes from 0.0909% to 0.0906% of the company. To keep it you'd need 636 more shares - about $3 at the issue price.
On September 28, 2015 the company sold 600,000 shares at $0.005 per share for $3,000 to one private investor. Same price as the July and August sales; new shares dilute existing holders.
What it means for a shareholder
600,000 new shares at $0.005 to raise about $3,000. That's 0.272% dilution: every existing holder's slice gets 0.272% smaller. If you held $1,000 of shares (200,000 at the issue price), your slice goes from 0.0909% to 0.0906% of the company. To keep it you'd need 545 more shares - about $3 at the issue price.
This 8-K reports the September 1, 2015 sale of 400,000 shares at $0.01 per share for $4,000 to one private investor. It is the same sale already summarised from the 2015-09-08 filing, so it adds nothing new; new shares dilute existing holders.
What it means for a shareholder
400,000 new shares at $0.010 to raise about $4,000. That's 0.181% dilution: every existing holder's slice gets 0.181% smaller. If you held $1,000 of shares (100,000 at the issue price), your slice goes from 0.0454% to 0.0454% of the company. To keep it you'd need 182 more shares - about $2 at the issue price.
On September 1, 2015 the company sold 400,000 shares at $0.01 per share for $4,000 to one private investor. The price is double the $0.005 of the prior two sales; new shares dilute existing holders.
What it means for a shareholder
400,000 new shares at $0.010 to raise about $4,000. That's 0.181% dilution: every existing holder's slice gets 0.181% smaller. If you held $1,000 of shares (100,000 at the issue price), your slice goes from 0.0454% to 0.0454% of the company. To keep it you'd need 182 more shares - about $2 at the issue price.
On August 24, 2015 the company sold 600,000 shares at $0.005 per share for $3,000 to one private investor. Same terms as the July 31 sale; new shares dilute existing holders.
What it means for a shareholder
600,000 new shares at $0.005 to raise about $3,000. That's 0.272% dilution: every existing holder's slice gets 0.272% smaller. If you held $1,000 of shares (200,000 at the issue price), your slice goes from 0.0909% to 0.0906% of the company. To keep it you'd need 545 more shares - about $3 at the issue price.
On August 20, 2015 the company signed a letter agreement with Dominion Harbor Group, LLC for strategic advice on acquiring, selling, licensing, enforcing and settling its patents. Dominion will advance recommended costs up to $10,000,000 and take 42.5% of net proceeds (35% if outside litigation), repaid first from any proceeds; if nothing is recovered the company owes no advanced costs. The company can terminate if within three months Dominion has not engaged a potential licensee and produced active discussions or proposals from two law firms for an infringement action. This follows the March 2015 Adapt IP engagement and offers funding for patent enforcement, which the company has so far financed through small share sales.
On July 31, 2015 the company sold 600,000 shares at $0.005 per share for $3,000 to one private investor. Back to the lowest price in the series; new shares dilute existing holders.
What it means for a shareholder
600,000 new shares at $0.005 to raise about $3,000. That's 0.272% dilution: every existing holder's slice gets 0.272% smaller. If you held $1,000 of shares (200,000 at the issue price), your slice goes from 0.0909% to 0.0906% of the company. To keep it you'd need 545 more shares - about $3 at the issue price.
On June 3, 2015 the company sold 300,000 shares at $0.01 per share for $3,000 to one private investor. The price is higher than the $0.005 of March 2015; new shares still dilute existing holders.
What it means for a shareholder
300,000 new shares at $0.010 to raise about $3,000. That's 0.136% dilution: every existing holder's slice gets 0.136% smaller. If you held $1,000 of shares (100,000 at the issue price), your slice goes from 0.0455% to 0.0454% of the company. To keep it you'd need 136 more shares - about $1 at the issue price.
On April 20, 2015 the company signed a letter agreement with Adapt IP Ventures, LLC under which Adapt IP will pay Meyer & Associates, LLC up to $20,000 to keep prosecuting the company's patents. The company promises to repay Adapt IP through an unsecured note that can be prepaid without penalty; the filing gives no interest rate or due date. This extends the March 2015 Adapt IP relationship and adds a new debt.
On March 17, 2015 the company sold 600,000 shares at $0.005 per share for $3,000 to one private investor. The price is the lowest in the series so far (down from $0.006); new shares dilute existing holders.
What it means for a shareholder
600,000 new shares at $0.005 to raise about $3,000. That's 0.273% dilution: every existing holder's slice gets 0.273% smaller. If you held $1,000 of shares (200,000 at the issue price), your slice goes from 0.0912% to 0.091% of the company. To keep it you'd need 547 more shares - about $3 at the issue price.
On March 16, 2015 the company hired Adapt IP Ventures, LLC on an exclusive basis for 60 days (reviewed every 30 days for extension) to help find companies that might acquire or license its patents, negotiate terms and help collect payment. Adapt IP gets a 15% success fee on net consideration; either side can end it on 30 days' notice. This continues the company's strategy of seeking licences or strategic relationships for its patents, now through an outside agent.
On December 30, 2014 the company sold 500,000 shares at $0.006 per share for $3,000 to one private investor, a day after a similar sale at the same price. Continuing small dilutive raises.
What it means for a shareholder
500,000 new shares at $0.006 to raise about $3,000. That's 0.228% dilution: every existing holder's slice gets 0.228% smaller. If you held $1,000 of shares (166,667 at the issue price), your slice goes from 0.076% to 0.0759% of the company. To keep it you'd need 380 more shares - about $2 at the issue price.
On December 29, 2014 the company sold 716,667 shares at $0.006 per share for $4,300 to one private investor. Same price as the December 5 sale; new shares dilute existing holders.
What it means for a shareholder
716,667 new shares at $0.006 to raise about $4,300. That's 0.326% dilution: every existing holder's slice gets 0.326% smaller. If you held $1,000 of shares (166,667 at the issue price), your slice goes from 0.076% to 0.0758% of the company. To keep it you'd need 545 more shares - about $3 at the issue price.
On December 5, 2014 the company sold 667,000 shares at $0.006 per share for $4,000 to one private investor. The price is roughly half the $0.011 of mid-2014 and the lowest so far, so many more shares are issued per dollar raised.
What it means for a shareholder
667,000 new shares at $0.006 to raise about $4,000. That's 0.306% dilution: every existing holder's slice gets 0.306% smaller. If you held $1,000 of shares (166,667 at the issue price), your slice goes from 0.0767% to 0.0765% of the company. To keep it you'd need 512 more shares - about $3 at the issue price.
On July 7, 2014 the company sold 600,000 shares at $0.011 per share for $6,600 to one private investor. Same terms as the February 2014 sales, continuing small dilutive raises.
What it means for a shareholder
600,000 new shares at $0.011 to raise about $6,600. That's 0.276% dilution: every existing holder's slice gets 0.276% smaller. If you held $1,000 of shares (90,909 at the issue price), your slice goes from 0.0419% to 0.0418% of the company. To keep it you'd need 252 more shares - about $3 at the issue price.
On June 17, 2014 the company sold 800,000 shares at $0.011 per share for $8,800 to one private investor. Same price as most 2014 sales; new shares dilute existing holders.
What it means for a shareholder
800,000 new shares at $0.011 to raise about $8,800. That's 0.373% dilution: every existing holder's slice gets 0.373% smaller. If you held $1,000 of shares (90,909 at the issue price), your slice goes from 0.0425% to 0.0424% of the company. To keep it you'd need 340 more shares - about $4 at the issue price.
On May 20, 2014 the company sold 1,000,000 shares at $0.01 per share for $10,000 to one private investor. This is the lowest price in the series so far (down from $0.011), so more shares are issued per dollar raised.
What it means for a shareholder
1.0m new shares at $0.010 to raise about $10,000. That's 0.466% dilution: every existing holder's slice gets 0.466% smaller. If you held $1,000 of shares (100,000 at the issue price), your slice goes from 0.0468% to 0.0466% of the company. To keep it you'd need 468 more shares - about $5 at the issue price.
On May 19, 2014 the company sold 300,000 shares at $0.011 per share for $3,300 to one private investor. Back at the early-2014 price, in a very small amount; new shares dilute existing holders.
What it means for a shareholder
300,000 new shares at $0.011 to raise about $3,300. That's 0.14% dilution: every existing holder's slice gets 0.14% smaller. If you held $1,000 of shares (90,909 at the issue price), your slice goes from 0.0425% to 0.0425% of the company. To keep it you'd need 128 more shares - about $1 at the issue price.
On May 9, 2014 the company sold 500,000 shares at $0.0175 per share for $8,750 to one private investor. The price is higher than the $0.011 of the May 8 sale; new shares dilute existing holders.
What it means for a shareholder
500,000 new shares at $0.0175 to raise about $8,750. That's 0.233% dilution: every existing holder's slice gets 0.233% smaller. If you held $1,000 of shares (57,143 at the issue price), your slice goes from 0.0267% to 0.0267% of the company. To keep it you'd need 134 more shares - about $2 at the issue price.
On May 8, 2014 the company sold 454,545 shares at $0.011 per share for $5,000 to one private investor. The smallest raise in this series, at the same $0.011 price as early 2014; new shares dilute existing holders.
What it means for a shareholder
454,545 new shares at $0.011 to raise about $5,000. That's 0.212% dilution: every existing holder's slice gets 0.212% smaller. If you held $1,000 of shares (90,909 at the issue price), your slice goes from 0.0425% to 0.0425% of the company. To keep it you'd need 193 more shares - about $2 at the issue price.
On February 25, 2014 the company sold 600,000 shares at $0.011 per share for $6,600 to one private investor. An identical sale to the one eight days earlier, continuing small dilutive raises.
What it means for a shareholder
600,000 new shares at $0.011 to raise about $6,600. That's 0.283% dilution: every existing holder's slice gets 0.283% smaller. If you held $1,000 of shares (90,909 at the issue price), your slice goes from 0.0431% to 0.0429% of the company. To keep it you'd need 258 more shares - about $3 at the issue price.
On February 17, 2014 the company sold 600,000 shares at $0.011 per share for $6,600 to one private investor. Same price as the January 2014 sale, in a smaller amount; new shares dilute existing holders.
What it means for a shareholder
600,000 new shares at $0.011 to raise about $6,600. That's 0.283% dilution: every existing holder's slice gets 0.283% smaller. If you held $1,000 of shares (90,909 at the issue price), your slice goes from 0.0431% to 0.0429% of the company. To keep it you'd need 258 more shares - about $3 at the issue price.
