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GZFX NEWS!!! - National Rollout at 50%
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[QUOTE]Originally posted by Relentless Despot: [QB] [b]Common stock offered by selling stockholder[/b] =========================================== Up to 5,836,435,851 shares, including up to 5,816,096,751 shares of common stock underlying convertible debentures in the amount of $203,391and up to 20,339,100 issuable upon the exercise of common stock purchase warrants at an exercise price of $1.09 per share, based on current market prices and assuming full conversion of the convertible debentures and the full exercise of the warrants (includes a good faith estimate of the shares underlying convertible debentures to account for price protection adjustments). This number represents 60.5% of our then current outstanding stock. =============================================== [b]Common stock to be outstanding after the offering[/b] Up to 7,703,157,540 shares assuming the full exercise of our warrants and conversion of our convertible debentures =============================================== [b]Use of proceeds[/b] We will not receive any proceeds from the sale of the common stock. However, we will receive up to $22,169,619 upon exercise of the warrants by the selling stockholder. We expect to use the proceeds received from the exercise of the warrants, if any, for general working capital purposes. We received an aggregate of $203,391 in connection with the issuance of the convertible debenture to the selling stockholder. We used the $203,391 for the general working capital purposes and the payment of professional fees. [/QB][/QUOTE]
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