“Alvin Donovan” Equity Line Funding Part Five

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Alvin Donovan Equity Line Funding Part Five
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Alvin Donovan: Equity Line Funding Part 5
I am Alvin Donovan and we continue our explanation of Equity Line FundingBelow are examples of some terms found in a typical Equity Line Funding Term Sheet:
Investment Period: The “Investment Period” begins on the effective date of the Registration Statement and continues for a period of twenty-four (24) consecutive months. During the Investment Period, the Company may exercise Puts of up to the maximum Put Amount with an aggregate total not to exceed the Commitment Amount. Prior to the exercise of a Put the Company must have an effective registration statement on file with the SEC registering the resale of the Common Stock.
Put Notice: During the Investment Period, the Company, in its sole discretion, may issue “Put Notices”, subject to the terms of the Standby Equity Purchase Agreement. The Company shall deliver the Put Notices to Investor via facsimile transmission. The Put Notice shall specify (i) the amount of the Put the Company wishes to exercise; and (ii) the beginning and ending dates of the Pricing Period.
Price Per Share: The price per share paid by Investor (the “Purchase Price”) on any particular day shall be equal to ____% of the “Market Price”. The Market Price shall be equal to the lowest daily volume weighted average price (“VWAP”) of the Common Stock on the Principal Market during the Pricing Period.
Pricing Period and Settlement:
(i) The pricing period (“Pricing Period”) will consist of the five (5) consecutive Trading Days immediately following the Trading Day the Put Notice is received by the investor.
(ii) There will be a minimum of three (3) Trading Days between Put Notices.
(iii) The number of shares of Common Stock being purchased and the aggregate Purchase Price shall be calculated at the end of the fifth (5th) Trading Day of each Pricing Period (each a “Settlement Date”).
(iv) Only one Put shall be allowed in each Pricing Period. At no time shall Investor be required to purchase more than the requested Put Amount for a given Pricing Period.
Aggregate Purchase Price: For each Pricing Period, Investor shall be required to pay not less than the “Aggregate Purchase Price”, which amount shall equal the lesser of:
(i) That amount equal to 15% of the aggregate daily U.S. trading volume (excluding block trades of 50,000 or more) during the Pricing Period times the Purchase Price; or
(ii) The amount stated in the Put Notice. I am Alvin Donovan and I hope you enjoyed my explanation of Equity Lines.
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