RE:RE:NEWS: Good update on sales and installsThe Company has reached agreement ("Debt Settlement Agreement") with certain senior management to fully settle an aggregate of $163,333.33 of unpaid fees for shares in the Company. Pursuant to the Debt Settlement Agreement, the Company would issue up to 3,266,666 common shares of the Company at a deemed price of $0.05 per Share.
The Company intends to issue up to 6,000,000 units (each a "Unit") at a price of $0.05 per Unit for gross proceeds of up to $300,000 through a non-brokered private placement.
Hard to go up when there settling debt concerns and already needing cash via another PP. Insiders or not, why the cash?