Business Context and Reporting Period
This Form 8-K is a current report filed by Derycz Scientific, Inc. (not Research Solutions, Inc.) on July 23, 2008, regarding an event that occurred on July 17, 2008. The company is a Nevada corporation headquartered in Los Angeles, California.
Key Financial Metrics
The filing details a specific capital raise transaction rather than periodic financial performance metrics such as revenue, profit, or cash flow.
- Capital Raised: $600,025 aggregate purchase price.
- Shares Issued: 400,017 shares of common stock at $1.50 per share.
- Warrants Issued: Warrants to purchase 200,009 shares at an exercise price of $2.00 per share, exercisable until July 17, 2011.
- Investor Count: 4 investors.
The filing text does not provide clear values for revenue, profit, margins, debt, or liquidity positions.
Material Changes
The material change reported is the unregistered sale of equity securities. The company completed the sale of common stock and warrants to four accredited investors. No general solicitation or advertising was used in this transaction.
Guidance, Outlook, and Risks
The filing includes a standard disclaimer regarding forward-looking statements, noting they are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. The company undertakes no obligation to update these statements. The transaction was conducted under exemptions from registration pursuant to Sections 4(2) and 4(6) of the Securities Act of 1933 and Rule 506.
Investor Verification Checklist
- Verify the correct registrant name is Derycz Scientific, Inc., not Research Solutions, Inc.
- Confirm the total capital raised was $600,025 from 4 accredited investors.
- Review the warrant terms: 200,009 shares at $2.00 exercise price, expiring July 17, 2011.
- Check subsequent filings for the impact of this dilution on outstanding share count.