SEC Filing Summary: AspenBio Pharma, Inc.
Business Context and Reporting Period
This Form 8-K Current Report was filed by AspenBio Pharma, Inc. (not Riot Platforms, Inc.) on December 29, 2006, with the earliest event reported on that date. The filing primarily addresses a press release issued on January 4, 2007, regarding unregistered sales of equity securities and results of operations.
Key Financial Metrics
- Cash Raised: $2,078,000 generated through the exercise of warrants.
- Shares Issued: 2,071,099 shares of common stock issued in total.
- Transaction Breakdown:
- 430,000 warrants exercised for cash proceeds of $430,000 by the Chairman, CFO, and affiliates.
- 170,000 warrants exercised on a cashless basis, resulting in 98,634 net shares issued.
- Use of Proceeds: Working capital, new product development, and general corporate purposes.
- Commissions: No commission was paid on the proceeds.
Material Changes
The filing reports a material increase in cash liquidity and an increase in outstanding common shares due to the warrant exercises described above. The filing does not provide comparative financial data (revenue, profit, margins, or debt levels) for the prior period.
Guidance, Outlook, and Risks
The filing references a press release (Exhibit 99.1) for details on results of operations and Regulation FD disclosure but does not contain specific forward-looking guidance, risk factors, or management commentary within the text of this report. The offering was conducted in reliance on Section 4(2) of the Securities Act of 1933 and Rule 506, involving accredited investors only.
Investor Verification Checklist
- Verify the discrepancy between the requested company name (Riot Platforms, Inc.) and the actual registrant (AspenBio Pharma, Inc.).
- Review Exhibit 99.1 (Press Release dated January 4, 2007) for detailed operational results and management commentary not included in this summary.
- Confirm the total number of outstanding shares post-transaction to assess dilution impact.
- Validate the specific allocation of the $2,078,000 proceeds between working capital and product development.