27 Mar 2026capital raising announcement▼ Bad
Settled $392,700 in unpaid legal fees owed to law firm McDermott Will & Schulte by issuing 446,149 shares instead of cash -- still stretched for cash well into 2026.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Dec 2025capital raising announcement● Neutral
Renewed its investor-relations contract with Redwood Empire Financial Communications for the first half of 2026, paid in 50,000 shares.
18 Aug 2025capital raising announcement▼ BadMajor
Raised $1.2 million from three institutional investors via unsecured convertible notes (15% OID, $1.02 million net), with a new placement agent (Ladenburg Thalmann, replacing Spartan on this deal) and restrictive covenants requiring 25% of any future equity-financing proceeds go toward repaying these notes.
17 Apr 2025capital raising announcement▼ BadMajor
Opened a new convertible note ($321,176 face, 15% OID) that it amended and restated four days later to $712,941 face / $606,000 funded, at a $0.48 conversion floor, maturing October 2025 -- financing the Canadian expansion.
12 Sept 2024capital raising announcement● Neutral
Hired a media/advertising consultant, paid partly in 250,000 restricted shares.
8 Aug 2024capital raising announcement▼ Bad
Raised a similar small note ($225,000 gross, $255,225 face, same 12%/$0.18-floor terms) and, in the same filing, extended the Heavy Sweet Asphalt Ridge option two more months, to October 10, 2024.
5 Aug 2024capital raising announcement▼ Bad
Another small note: $134,000 gross, $110,625 net, on $152,000 of face after an $18,000 original issue discount, 12% interest, repayable in five instalments between January and May 2025. It converts only on an event of default, and then at the greater of 75% of market price or an $0.18 floor, with the balance accelerating to 150% at 22% default interest.
28 June 2024capital raising announcement▼ BadMajor
Raised $720,000 from two more institutional investors via matching $400,000, 10%-OID convertible notes and warrants at $0.39525/share -- and gave both investors the right to participate in up to 100% of any future debt financing.
25 Apr 2024capital raising announcement▼ Bad
Brought in a second investor alongside the one from nine days earlier, on matching $400,000/10%-OID note terms with cross-default and cross-prepayment provisions between the two notes.
17 Apr 2024capital raising announcement▼ BadMajor
Raised another $360,000 gross ($310,000 net) via a new $400,000 senior secured convertible note (10% OID, $0.25 conversion price, 750,000 commitment shares), maturing August 2024.
2 Jan 2024capital raising announcement▼ BadMajor
Closed the second tranche of October's note financing, but only after cutting the conversion and warrant prices from $1.20 to $0.50 -- a $550,000 note plus 445,561 warrants at the new price, another sign of a falling stock.
4 Oct 2023capital raising announcement▼ BadMajor
Opened its first convertible note financing -- up to $3.5 million in two tranches -- funding the first ($2 million note, $1.86 million net after 7% OID) alongside a warrant on 866,702 shares at $1.20, both priced at $1.20/share.