Kinetic Seas Inc. Reports Unregistered Equity Sales
Ticker: KSEZ · Form: 8-K · Filed: May 31, 2024 · CIK: 1945619
| Field | Detail |
|---|---|
| Company | Kinetic Seas INC. (KSEZ) |
| Form Type | 8-K |
| Filed Date | May 31, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: unregistered-securities, equity-sale
TL;DR
Kinetic Seas sold unregistered stock, details TBD.
AI Summary
Kinetic Seas Inc. filed an 8-K on May 31, 2024, to report unregistered sales of equity securities. The filing does not disclose specific details about the number of shares sold, the price, or the purchasers involved in these unregistered sales.
Why It Matters
This filing indicates that Kinetic Seas Inc. has issued equity without registering it with the SEC, which could have implications for the liquidity and valuation of those shares.
Risk Assessment
Risk Level: medium — Unregistered sales can sometimes indicate a need for capital or potential dilution, and the lack of specific details warrants caution.
Key Players & Entities
- Kinetic Seas Inc. (company) — Registrant
- May 31, 2024 (date) — Filing Date
- Bellatora, Inc. (company) — Former Company Name
FAQ
What type of equity securities were sold?
The filing states 'Unregistered Sales of Equity Securities' but does not specify the type of securities.
How many shares were sold in this unregistered offering?
The filing does not provide the number of shares sold.
What was the price per share or the total amount raised from these unregistered sales?
The filing does not disclose the price per share or the total proceeds from the unregistered sales.
Who were the purchasers of these unregistered equity securities?
The filing does not identify the purchasers of the unregistered equity securities.
When did the unregistered sales of equity securities occur?
The filing reports the event as of May 31, 2024, but does not specify a precise date range for the sales themselves.
Filing Stats: 415 words · 2 min read · ~1 pages · Grade level 15 · Accepted 2024-05-31 14:55:07
Filing Documents
- kinetic_8k.htm (8-K) — 22KB
- 0001683168-24-003908.txt ( ) — 186KB
- ecgr-20240531.xsd (EX-101.SCH) — 3KB
- ecgr-20240531_lab.xml (EX-101.LAB) — 33KB
- ecgr-20240531_pre.xml (EX-101.PRE) — 22KB
- kinetic_8k_htm.xml (XML) — 3KB
02 Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities On May 31, 2024, Kinetic Seas Incorporated (the "Company") issued 19,250 shares of Series A Preferred Stock in exchange for 19,250,000 shares of common stock held by four shareholders of the Company. The four shareholders are all officers and/or directors of the Company. The Series A Preferred Shares were issued pursuant to the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933. 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Kinetic Seas Incorporated Dated: May 31, 2024 By: /s/ Edward Honour Name: Edward Honour Title: Chief Executive Officer 3