Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.
Message: Warrant dilution ending? 18 miilion left?
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As of February 28, 2007, we had warrants outstanding to purchase 29,906,015 common shares at exercise prices ranging from $0.02 to $1.00 per share, expiring at various dates through 2012. Some of these outstanding warrants were not exercisable as of February 28, 2007 as they are subject to meeting vesting criteria. During the nine months ended February 28, 2007, we issued no warrants to purchase shares of common stock, investors exercised warrants to purchase 272,500 shares of common stock for proceeds of $72,250 and investors exercised warrants of 22,732,380 to purchase 22,459,880 shares of common stock on a cashless basis.
page 26
As of February 28, 2007, we had warrants outstanding to purchase 29,906,015 common shares at exercise prices ranging from $0.02 to $1.00 per share, expiring at various dates through 2012. Some of these outstanding warrants were not exercisable as of February 28, 2007 as they are subject to meeting vesting criteria. During the nine months ended February 28, 2007, we issued no warrants to purchase shares of common stock, investors exercised warrants to purchase 272,500 shares of common stock for proceeds of $72,250 and investors exercised warrants of 22,732,380 to purchase 22,459,880 shares of common stock on a cashless basis.
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During
the period March 1, 2007 through April 20, 2007, Phoenix Digital entered into
license agreements with third parties, with proceeds totaling $22,140,000.
On
March
5, 2007, the Company received proceeds of $100,000 from an investor who
exercised warrants to purchase 1,000,000 shares of common
stock.
On
March
20, 2007, an investor exercised warrants of 10,702,243 to purchase 10,424,578
shares of common stock on a cashless basis.
In
a
press release dated February 22, 2007, the Company announced dividends of $0.02
per share to shareholders and qualified warrant holders of record as of March
6,
2007. The dividend of $8,114,774 was paid on April 9, 2007. In the same press
release, the Company announced the Board of Directors semi-annual dividend
policy contingent upon the financial condition of the Company, other possible
applications of available resources, and relevant business
considerations.
On
March
27, 2007, the Company entered into an 18 month revolving line of credit with
SSDI for a maximum amount of $500,000. If the Company does not provide notice
to
SSDI at least 90 days prior to the maturity date, the maturity date
automatically extends 12 months. The line of credit is collateralized by all
assets presently owned or hereafter acquired by SSDI. On March 28, 2007, the
Company advanced $150,000 under terms of the agreement, and on April 16, 2007
the Company advanced $100,000 under terms of the agreement.
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