Item 5. Market for Registrant’s Common Equity
Item 5. Market for Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information
Our Common Stock is quoted on the OTC Pink under the symbol “GEVI.” Our stock is thinly traded on the OTC Markets and there can be no assurance that a liquid market for our common stock will ever develop.
For the periods indicated, the following table sets forth the high and low bid prices per share of common stock based on inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual transactions.
Fiscal Year 2023
High Bid
Low Bid
First Quarter
$ 0.50
$ 0.15
Second Quarter
$ 0.50
$ 0.17
Third Quarter
$ 1.11
$ 0.40
Fourth Quarter
$ 0.98
$ 0.42
Fiscal Year 2022
High Bid
Low Bid
First Quarter
$ 0.180
$ 0.049
Second Quarter
$ 0.235
$ 0.175
Third Quarter
$ 0.210
$ 0.125
Fourth Quarter
$ 0.580
$ 0.208
Security Holders
As of April 2,2024, we estimate there were approximately 721 holders of record and 36,302,150 shares of our Common Stock were issued and outstanding.
Dividend Policy
We have not paid any dividends on our common stock since inception and we currently expect that, in the foreseeable future, all earnings (if any) will be retained for the development of our business and no dividends will be declared or paid on our common stock. Any future dividends on our common stock will be subject to the discretion of our board of directors and will depend upon, among other things, our earnings (if any), operating results, financial condition and capital requirements, general business conditions and other pertinent facts.
Recent Sales of Unregistered Securities
During the past two years, we effected the following transactions in reliance upon exemptions from registration under the Securities Act:
Between September 27, 2023, and February 13, 2024, we issued 471,832 shares of Siers C Convertible Preferred Stock. The following table summarizes the offering, including the number of shares sold and the amount raised. The proceeds were used for general working capital and operational purposes, including Legal Fees, Accounting and Audit Fees, testing and certification, and preparation to launch product offerings.
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Table of Contents
Purchaser
Series C Preferred Shares Issued
Amount Raised
Peter Zilahy
25,000
$ 100,000.00
Alta Investments LLC
20,833
$ 49,999.20
Robert Dailey
41,666
$ 99,998.40
FEC Investments LLC
75,000
$ 300,000.00
East Shore Industries LLC
12,500
$ 50,000.00
Gerald Yanowitz
14,000
$ 33,600.00
Joel Yanowitz and Amy Metzenbaum Revocable Trust
40,000
$ 96,000.00
Super Eight Capital Holding Ltd.
7,000
$ 28,000.00
Loma LLC
12,500
$ 50,000.00
Hunts Road LLC
25,000
$ 100,000.00
Alta Investments LLC
37,500
$ 90,000.00
Super Eight Capital Holding Ltd.
8,333
$ 19,999.20
Michael Feigin
20,000
$ 0.00
Noonan 2006 Revocable Trust
100,000
$ 300,000.00
Jeffrey P. Bash
12,500
$ 75,000.00
JBCG Enterprises LLC
20,000
$ 0.00
Each investor was given adequate access to sufficient information about us to make an informed investment decision. None of the securities were sold through an underwriter and accordingly, there were no underwriting discounts or commissions involved. No registration rights were granted to any of the purchasers.
Issuer Purchases of Equity Securities
None.
Use of proceeds
None.
Item 6. [Reserved]