Business Context and Reporting Period
This Form 8-K Current Report was filed by Pharmacyte Biotech, Inc. on January 21, 2020, reporting events occurring on January 17 and January 21, 2020. The filing discloses the entry into a Material Definitive Agreement and the completion of a private placement of equity securities.
Key Financial Metrics
The filing details a specific capital raise transaction rather than periodic financial performance metrics.
- Transaction Type: Private placement of common stock.
- Shares Issued: 30,000,000 restricted shares.
- Price Per Share: $0.005.
- Total Gross Proceeds: $150,000.
- Investor Type: Accredited investor.
The filing text does not provide clear values for revenue, profit, operating cash flow, margins, total debt, or overall liquidity positions outside of this specific transaction.
Material Changes
The primary material change is the increase in equity capital and share count resulting from the closed private placement. The company issued 30,000,000 new shares, increasing its outstanding common stock. No other material changes to operations or financial condition are disclosed in this report.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the standard disclosure that the shares are restricted and exempt from registration under Section 4(a)(2) of the Securities Act of 1933 and Regulation D. The transaction was conducted without general solicitation.
Investor Verification Checklist
- Verify the exact number of shares outstanding post-transaction to assess dilution impact.
- Confirm the use of the $150,000 gross proceeds in subsequent filings or press releases.
- Review the full text of the Share Subscription Agreement (Exhibit 10.1) for any specific covenants or rights granted to the investor.
- Check for any subsequent filings regarding the registration rights or resale restrictions of the 30,000,000 shares.