CHEERS! READ THIS: CORR
- SEC FILING ANALYSIS
The shareholder has contractually agreed to not convert convertible debentures or exercise warrants in excess of 9.99% of the Company's outstanding shares of common stock. Bristol Investment Fund, Ltd. is a private investment fund that is owned by its investors and managed by Bristol Capital Advisors, LLC (f/k/a Bristol DLP, LLC). Bristol Capital Advisors, LLC, of which Mr. Paul Kessler and Ms. Diana Derycz Kessler are the managing members with final voting power, has investment control over the shares listed owned by Bristol Investment Fund, Ltd. Alpha Capital Aktiengesellschaft is a private investment fund that is owned by all its investors and managed by Mr. Konrad Ackerman. Mr. Konrad Ackerman may be deemed the control person of the shares owned by such entity, with final voting power and investment control over such shares. Stonestreet Limited Partnership is a private investment fund that is owned by all its investors and managed by Ms. Libby Leonard and Mr. Michael Finkelstein. Ms. Libby Leonard and Mr. Michael Finkelstein may be deemed control persons of the shares owned by such entity, with final voting power and investment control over such shares. SDS Capital Group SPC, Ltd. (f/k/a SDS Merchant Fund, LP) is a private investment fund that is owned by its investors and managed by its general partner, SDS Management, LLC. Mr. Steve Derby is the control person of the shares owned by SDS Capital Partners, LLC, with final voting power and investment control over such shares.
It looks like conversions were already done earlier this year.
As of the Record Date, a total of 459,402,044 shares of the Company's currently authorized 800,000,000 shares of Common Stock are issued and outstanding. The increase in the number of authorized but unissued shares of Common Stock would enable the Company, without further stockholder approval, to issue shares from time to time as may be required for proper business purposes, such as raising additional capital for ongoing operations, business and asset acquisitions, stock splits and dividends, present and future employee benefit programs and other corporate purposes.
Alpha Capital Aktiengesellschaft 45,894,264 shares owned - 9.99%
Stonestreet Limited Partnership 45,894,264 shares owned - 9.99%
Bristol Investment Fund Ltd. 45,894,264 shares owned - 9.99%
SDS Capital Group SPC, Ltd. 45,894,264 shares owned - 9.99%
Michael A. Liccardo
Mr. Liccardo's beneficial ownership includes (i) 54,018,677 shares of common stock and (ii) 306,816,703 shares of common stock that are issuable upon conversion of the convertible debenture in the amount of $1,120,554 and accrued interest of $275,462 held by Mr. Liccardo, which is convertible into common stock at the lower of $0.35 or 65% of the average of the lowest three intraday prices of our Common Stock during the 20 trading days immediately preceding the applicable conversion date.
Scott Mac Caughern 56,616,262 shares owned
J. Michael Heil 36,616,262 shares owned
I am estimating the current float to be 128,573,787.
I have called the transfer agent and the O/S has not changed.
The Board believes that the increase in authorized common shares would provide the Company greater flexibility with respect to the Company's capital structure for such purposes as additional equity financing and stock based acquisitions.
PLEASE KEEP IN MIND THAT THIS IS ONLY MY ESTIMATION FROM READING THE SEC FILINGS. I COULD BE COMPLETELY WRONG.
YOU CAN READ THE FILING YOURSELF HERE:
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