DatChat Inc
For the period ended Mar 31, 2024. Filed May 14, 2024.
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Mar 31, 2024 · Filed May 14, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
Dragon Interactive Corporation, f/k/a SmarterVerse, Inc. (“Dragon Interactive”), a majority owned subsidiary of DatChat, Inc., entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an institutional and accredited investor (the “Investor”), pursuant to which Dragon Interactive agreed to sell an aggregate of 120,000 shares (the “Shares”) of Dragon’s common stock, par value $0.0001 per share, for an aggregate purchase price of $36,000. Following the sale, the Company retains approximately 71.4% ownership of Dragon Interactive. The Dargon Interactive shares were offered and sold in reliance on the exemption from registration under the Securities Act of 1933, as amended (the “Securities Act”) provided by Section 4(a)(2) and Regulation D (Rule 506) under the Securities Act.”
Issuer Purchases of Equity Securities
We did not have any common stock repurchases during the quarterly period ended March 31, 2024.
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