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Strategies & Market Trends : Pluvia's Fist.com - Pluvia's Plays & Portfolio
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To: TeamTi who wrote (1501)11/26/2003 10:31:03 PM
From: TeamTi  Read Replies (2) of 1766
 
hmmm wonder what I would do with EGHT shares at this price?

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In July 2003, we completed a private placement of 2,260,000 shares of common stock at $0.434 (the average closing price for the five days prior to the sale) per share for aggregate net proceeds of $859,000. The investors also received warrants with terms of five years to purchase 2,260,000 shares at $0.60, 565,000 shares at $0.75 and 565,000 shares at $1.00. In addition, the investors were also granted certain preemptive rights that allow the investors to purchase additional shares of common stock from us, in proportion to their ownership percentage, to the extent that shares of our common stock are issued in connection with financing activities.
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