AppYea raises $133K via stock and warrant sale, restructures notes, modifies preferred voting rights

APPYEA, INC

Issued 13.3M shares common stock at $0.01/share and warrants to purchase 13.3M shares at $0.04, two-year term. Gross proceeds $133,000.
Investor and affiliates purchased $724,658 outstanding convertible notes; maturity extended to Dec 31, 2024; conversion prices amended to $0.0054 and $0.005.
Additional $720K note from third party extended maturity to June 30, 2024; company may issue extra shares if VWAP below $0.04 (illustrated 2.33M shares if VWAP $0.03).
Preferred Series A shares voting rights changed: each share now equals 3,000 common stock votes. Effective June 18, 2023.
Informal indication of further investments of $266K in Q3 2023 and up to $950K within nine months, but not guaranteed.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

APPYEA, INC entered into Subscription Agreement with a qualified investor valued at aggregate gross proceeds of $133,000 (effective 2023-07-19).

Action: entry
Agreement: equity purchase
Counterparty: a qualified investor
Value: aggregate gross proceeds of $133,000
Effective: 2023-07-19

Exact text from the filing

On July 19, 2023, Company entered into a Subscription Agreement (the “Subscription Agreement”) with a qualified investor (the “Investor”), pursuant to which the Company agreed to issue and sell (the “Offering”) an aggregate of 13,300,000 shares of the Company’s common stock par value $0.0001 per share (the “Common Stock”) at a per share purchase price of $0.01, and Common Stock purchase warrants, exercisable for a two year period from the date of issuance, to purchase up to an additional 13,300,000 shares of Common Stock at a per share exercise price of $0.04 (the “Warrants”).

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APPYEA, INC filing history →

Source: SEC EDGAR

accession 0001493152-23-026528

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