RE:There is still tons of cheap paperSo please comment on this and tell me! Tons of cheap paper!
Shares for 0.001 and 0.003 etc. etc.
i) On March 26, 2018, the Company closed the first round of its non-brokered ‘friends and family’ financing with the issuance of 20,000,000 common shares of the Company for gross proceeds of $121,500. Of the total issuance, 16,500,000 common shares were issued to a company controlled by a senior management member of the Company for a price of $0.001 per common share. An additional 3,500,000 common shares were issued to at a price of $0.03 per common share.
ii) On April 25, 2018, the Company closed the second round of its non-brokered ‘friends and family’ financing with the issuance of 11,331,998 common share units of the Company for gross proceeds of $339,960. Each Unit was issued at a price of $0.03 per unit and consists of one common share of the Company and one transferable common share purchase warrant. Each warrant being exercisable into one common share of the Company at a price of $0.05 per common share for a period of 36 months. The fair value allocated to the common share purchase warrants was determined to be $24,350 using the Black-Scholes option pricing model with a market price per common share of $0.03, a risk-free interest rate of 1.1%, an expected annualized volatility of 33% and expected dividend yield of 0%.
iii) On May 24, 2018, the Company issued 470,258 common shares as compensation for services rendered valued at $47,025. The common shares were issued at a price of $0.10 per common share. iv) On May 24, 2018, the Company issued 4,775,000 common shares for gross proceeds of $477,500, as part of a private placement financing. Each common share was issued at a price of $0.10 per common share
and others for 0.25 ....