EQUITY |
3 Months Ended |
|---|---|
Mar. 31, 2018 | |
| Notes to Financial Statements | |
| NOTE 10. EQUITY |
Common Stock
During the three months ended March 31, 2018, senior secured convertible promissory notes and accrued interest in the amount of $17,180,837 were converted into 3,133,025 shares of common stock.
During the three months ended March 31, 2018, the Company sold 160,430 shares of common stock for the net amount of $750,000 pursuant to an equity financing facility with an accredited investor.
During the three months ended March 31, 2018, the Company cancelled 24,510 shares of common stock valued at $117,831, issued 6,410 shares of common stock for services performed in the amount of $16,692 and issued 81,506 shares of common stock for compensation in the amount of $288,446.
During the three months ended March 31, 2018, the Company issued 197,125 shares of common stock for cashless and cash exercises of warrants. The cash received from the cash exercise of warrants was $51,000.
During the three months ended March 31, 2018, the Company purchased an asset worth $300,000. $100,000 was paid in cash during March 2018, the remaining $200,000 was to be paid by issuing 53,332 shares of the Company’s common stock. The Company issued 26,666 shares of the 53,332 shares. The remaining 26,666 shares of common stock due was issued in April 2018.
As part of the stock split in March 2018, the Company issued 46,687 shares of common stock to round up fractional shares to all shareholders of the Company.
As part of the acquisition of Tech Center Drive in September 2017, the Company issued shares held in escrow which were to be paid six months after the acquisition date subject to any amounts to be withheld related to working capital type adjustments. As a result of the working capital adjustments, in March 2018, approximately $351,000 on the six month anniversary date, the Company withheld and cancelled 101,083 shares. |