Unregistered Sales of Equity Securities and Use Of Proceeds
−Removed: were no unregistered sales of the Company’s equity securities during the three months ended June 30, 2024 that were not previously
−Removed: reported in an Annual Report on Form 10-K, a Quarterly Report on Form 10-Q, or a Current Report on Form 8-K .
−Removed: otherwise specified, the above securities were issued in reliance on the exemption under Section 4(a)(2) of the Securities Act.
−Removed: of the shares to the consultant qualified for exemption under Section 4(a)(2) since the issuance by us did not involve a public offering.
−Removed: The offering was not a “public offering” as defined in 4(a)(2) due to the insubstantial number of persons involved in the
−Removed: transactions, manner of the issuance and number of securities issued.
−Removed: We did not undertake an offering in which we sold a high number
−Removed: of securities to a high number of investors.
−Removed: In addition, the investor had the necessary investment intent as required by Section 4(a)(2)
−Removed: since they agreed to and received securities bearing a legend stating that such securities are restricted pursuant to Rule 144 of the
−Removed: This restriction ensures that these securities would not be immediately redistributed into the market and therefore not be part
−Removed: of a “public offering”.
−Removed: Based on an analysis of the above factors, we have met the requirements to qualify for exemption
−Removed: under Section 4(a)(2) of the Securities Act.
+Added: Company had the following unregistered sale of equity securing during the three months ended September 30, 2024.
+Added: All shares were issued
+Added: under Section 4(a)(2) of the Securities Act of 1933 as follows:
+Added: July 1, 2024 the Company sold 6,459,985 shares to GHS at approximately $0.0066 per share for gross proceeds of approximately $43,000
+Added: July 12, 2024 the Company issued 10,000,000 shares to Streeterville to settle a $90,000 obligation that was partitioned from the
+Added: restructured senior note outstanding.
+Added: July 25, 2024 the Company issued 12,289,157 shares to GHS to satisfy the conversion of 85 Series E preferred shares
+Added: August 13, 2024 the Company sold 14,646,861 shares to GHS at approximately $0.0042 per share for gross proceeds of approximately
+Added: August 24, 2024 the Company sold 21,276,661 shares to GHS at approximately $0.0031 per share for gross proceeds of approximately
Defaults upon Senior Securities
+Added: of the date of the filing the Company has defaulted on the following debt obligations with a total outstanding balance including interest
+Added: of approximately $29.9 million:
+Added: 2023 Note with a balance due of approximately $221,000
+Added: August Note Payable with a balance due of approximately $27 million
+Added: Senior Note Payable with a balance due of approximately $2.6 million
+Added: the Company’s Series G preferred shares, which had a redemption value of $820,000 were required to be redeemed as of December of
Mine Safety Disclosures
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.