21 June 2016capital raising announcement▼ Bad
XLI Technologies corrected an earlier filing error: the 100,000 Series A Preferred shares it had reported issuing to CEO Schramm in February 2016 were never actually issued or outstanding.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
19 Apr 2016capital raising announcement▼ BadMajor
XLI Technologies took on a third toxic convertible note - $55,556 face value from JMJ Financial for $50,000 cash, convertible at 60% of the lowest recent trading price - while CEO Schramm cancelled another 25,000,000 of his own shares, bringing his total voluntary cancellations to 65,000,000 shares.
28 Mar 2016capital raising announcement▼ Bad
XLI Technologies disclosed the mechanics of its RDW Capital financing in full: the notes convert at just 60% of the lowest traded price in the 20 days before conversion, a steep discount structure that increases dilution as the stock price falls.
1 Feb 2016capital raising announcement▼ BadMajor
XLI Technologies entered a much larger convertible-note facility (up to $1,050,000 total) with RDW Capital LLC, drawing a first $250,000 tranche via an 8% note; a placement agent took a cut and the note could later convert into stock, adding to the company's growing convertible-debt overhang.
11 Dec 2015capital raising announcement▼ BadMajor
XLI Technologies raised $250,000 by selling a 12%-interest convertible note to JSJ Investments Inc., convertible into stock starting 180 days later - the first of several deeply discounted convertible-note financings that would substantially dilute shareholders over the following months.