debt
confidence high
sentiment negative
materiality 0.85
The Crypto Company converts debt to equity: issues 748M+ shares to settle $855K+ in notes
Crypto Co
- Issued 271,136,940 shares to Eksa Holdings, Practivist Investors, and Robert Nail for early conversion of notes.
- Issued 476,953,697 shares, $500K cash, and a pre-funded warrant for 713,915,563 shares at $0.0001 to AJB Capital.
- New promissory notes total $855,579.26 aggregate principal; same maturity dates, zero interest, subordinated security.
- Transactions were unregistered, relying on Section 4(a)(2) and Rule 506; investors are accredited.
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