American Blockchain Corporation to Raise $15 million [Yahoo! Finance]
GOOD VIBRATIONS SHOES INC (GVSI)
NASDAQ:AMEX Investor Relations:
investorshub.advfn.com/good-vibrations-shoes-inc-gvsi-11738
Company Research
Source: Yahoo! Finance
today that it has entered into a non-binding Letter of Intent (“LOI”) with a privately owned Blockchain and Cryptocurrency enterprise, currently operating as an LLC. In the interest of preventing any harassment of the LLC by the public, the parties have agreed not to identify the LLC until they have entered into a definitive agreement. Under the terms of the LOI, GVSI will raise $15 million on a “best-efforts” basis for investment in the LLC, in exchange for 35% equity membership in the LLC. Potential GVSI investors have already been identified by the LLC, which has previously and privately raised $9 million under a $30 million valuation. By using GVSI as a conduit for investment into the LLC, GVSI shareholders have a potential opportunity to benefit from the growth of the LLC. ABC's CEO, George Sharp, has agreed to return his 300,000 Preferred “B” shares to treasury in exchange for 50 million new common shares, in order to more than offset any share issuances to new investors.
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