Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s 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 2024
High Bid
Low Bid
First Quarter
$ 0.900
$ 0.750
Second Quarter
$ 0.740
$ 0.640
Third Quarter
$ 0.850
$ 0.580
Fourth Quarter
$ 0.900
$ 0.640
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
Security Holders
As of March 21, 2025, we estimate there were approximately 750 holders of record and 52,378,201 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 completed the following transactions in reliance upon exemptions from registration under the Securities Act:
Between September 27, 2023, and March 21, 2025, we issued 1,001,969 shares of Series 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.
Purchaser
Series C
Preferred
Shares Issued
Amount
Raised
Peter Zilahy
25,000
$ 100,000
Alta Investments LLC
20,833
$ 49,999
Robert Dailey
41,666
$ 99,998
FEC Investments LLC
75,000
$ 300,000
East Shore Industries LLC
12,500
$ 50,000
Gerald Yanowitz
14,000
$ 33,600
Joel Yanowitz and Amy Metzenbaum Revocable Trust
40,000
$ 96,000
Super Eight Capital Holding Ltd.
7,000
$ 28,000
Loma LLC
12,500
$ 50,000
Hunts Road LLC
25,000
$ 100,000
Alta Investments LLC
37,500
$ 90,000
Super Eight Capital Holding Ltd.
8,333
$ 19,999
Michael Feigin
20,000
$ -
Noonan 2006 Revocable Trust
100,000
$ 300,000
Jeffrey P. Bash
12,500
$ 75,000
JBCG Enterprises LLC
20,000
$ -
Alta Investments LLC
54,166
$ 130,000
RJ Dailey
20,833
$ 50,000
FinTekk AP LLC
83,333
$ 500,000
Robert Dailey
108,750
$ 335,000
FEC SDR, LLC
75,000
$ 300,000
Kenneth C. Noonan Family Trust
22,222
$ 100,000
NUVIEW IRA LLC
16,667
$ 100,000
ARMAND + L P Della Monica TTEE
25,000
$ 100,000
Steve Boyd
50,000
$ 300,000
Robert Anderson - Equity Trust
8,333
$ 50,000
Kim Anderson - Equity Trust
8,333
$ 50,000
Michael L. Meyer
16,667
$ 100,000
The Tim and Tiffany Hodges Revocable Trust
5,000
$ 30,000
Alan E. Cunningham
2,500
$ 15,000
General Pacific
33,333
$ 200,000
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Table of Contents
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