Company will offer Da He up to 30 million shares at an 80% discount
By Devika Patel
Knoxville, Tenn., Aug. 29 - Cybermesh International Corp. renegotiated an equity line financing agreement with Da He LLC on Aug. 25, according to an 8-K filed Monday with the Securities and Exchange Commission. The agreement was arranged for $1 million on March 28 and will now raise $600,000.
Da He has committed to purchase up to 30 million common shares at $0.02 per share, which is an 80% discount to the Aug. 24 closing price of $0.10. The original price per share was $0.05, and the company planned to sell up to 20 million shares.
Originally, the deal was for one year from the pricing date of March 28 but will now extend for one year from Aug. 25.
Albuquerque's Cybermesh International is a technology-based company that has acquired technologies in the areas of compression, encryption, video streaming and telecommunication.
| Issuer: | Cybermesh International Corp.
|
| Issue: | Equity line financing agreement
|
| Amount: | $600,000
|
| Tenor: | One year
|
| Shares: | 30 million
|
| Price: | $0.02
|
| Warrants: | No
|
| Investor: | Da He LLC
|
| Settlement date: | March 28
|
| Revised: | Aug. 25
|
| Stock symbol: | OTCBB: CYTL
|
| Stock price: | $0.10 at close Aug. 25
|
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