After years of no product and no revenues and unsuccessfully suing chatroom posters who say disparaging things about the company instead of working to bring a product to market, they are selling stock at "a discount to the volume-weighted average price for each trading day within the applicable drawdown pricing period, which discount will range from 4.5% to 8.5%" to a finance company based on a small Caribbean island nation. What do you bet Nevis has strict bank secrecy laws?
Sound like a floorless?
HOLLIS-EDEN PHARMACEUTICALS, INC., S-1 filed 9/14/01
Preliminary Prospectus Dated September 14, 2001
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2,250,000 Shares
Common Stock
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This prospectus relates to the resale of up to 2,250,000 shares of common
stock that may be issued through a common stock purchase agreement with
Ballsbridge Finance Ltd., a Nevis corporation, as further described in this
prospectus and upon the exercise of warrants issued to Ballsbridge in
connection with the common stock purchase agreement. See "Common Stock Purchase
Agreement" beginning on page 44.
The price at which we will sell the shares to Ballsbridge will be equal to a
discount to the volume-weighted average price for each trading day within the
applicable drawdown pricing period, which discount will range from 4.5% to
8.5%, depending on our market capitalization at the time. Ballsbridge may
resell those shares, and the shares issuable upon exercise of the warrants,
using this prospectus.
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