News Column

MONDIAL VENTURES, INC. FILES (8-K) Disclosing Unregistered Sale of Equity Securities

August 28, 2014

Item 3.02. Unregistered Sales of Equity Securities

During the period commencing August 25, 2014 through August 27, 2014, the Company issued 182,257,142 common shares to reduce debt on convertible promissory notes by the amount of $7,970 along with issuance of an additional 90,000,000 common shares to reduce accounts payable balances $5,400. The issued and outstanding common shares of the Company at the beginning of the period commencing August 25, 2014, as adjusted, was 910,902,898, and for the period ending August 27, 2014 the issued and outstanding common shares of the Company was approximately 1,183,160,040.

The Company claims an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Act") for the private placement of these securities pursuant to Section 4(2) of the Act and/or Rule 506 of Regulation D promulgated thereunder since, among other things, the transaction does not involve a public offering, the Investor is an "accredited investor" and/or qualified institutional buyer, the Investor has access to information about the Company and its investment, the Investor will take the securities for investment and not resale, and the Company is taking appropriate measures to restrict the transfer of the securities.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Edgar Glimpses

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters