Kinetic Seas Inc
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-08-19.
0001683168-24-005863
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-14.
0001683168-24-008124
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 8 previous paragraphs and 10 current paragraphs.
4 unchanged; 3 reworded; 3 added; 1 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (3)
Current report
During the three months ended September 30, 2024, we sold 197,000 shares of common stock to one accredited investor for gross proceeds of $9,850 in an offering of our common stock at $0.05 per share. The sales were exempt from the registration requirements of the Securities Act of 1933 by virtue of the exemption contained in Section 4(a)(2) therein.
Current report
During the three months ended June 30, 2024, we issued 4,000 shares of Series B Convertible Preferred Stock to two accredited investors for gross proceeds of $200,000. These issuance were exempt from the registration requirements of the Securities Act of 1933 by virtue of the exemption contained in Section 3(a)(9) therein.
Current report
During the three months ended June 30, 2024, we issued 150 shares of Series A Convertible Preferred Stock for financing fees to two accredited investors who loaned the Company an aggregate of $150,00. The sales were exempt from the registration requirements of the Securities Act of 1933 by virtue of the exemption contained in Section 3(a)(9) therein.
Removed paragraphs (1)
Previous report
During the three months ended June 30, 2024, we issued 19,450 shares of Series A Convertible Preferred Stock in exchange for 19,450,000 shares of common stock with four individuals who are officers and/or directors of the Company. The sales were exempt from the registration requirements of the Securities Act of 1933 by virtue of the exemption contained in Section 3(a)(9) therein.
Reworded paragraphs (3)
Previous wording
During the three months ended June 30, 2024, we sold 4,104,000 shares of common stock to 22 accredited investors for gross proceeds of $205,200. The sales were exempt from the registration requirements of the Securities Act of 1933 by virtue of the exemption contained in Section 4(a)(2) therein.
Current wording
During the three months ended September 30, 2024, we sold 242,000 shares of common stock to four accredited investors for gross proceeds of $121,000 in an offering of our common stock at $0.50 per share. The sales were exempt from the registration requirements of the Securities Act of 1933 by virtue of the exemption contained in Section 4(a)(2) therein.
Previous wording
During the three months ended June 30, 2024, we issued a convertible note for $150,000 to an accredited investor. The issuance was exempt from the registration requirements of the Securities Act of 1933 by virtue of the exemption contained in Section 4(a)(2) therein.
Current wording
During the three months ended September 30, 2024, we issued 50,000 shares of common stock to an accredited investor and related party as a loan extension fee. The issuance was exempt from the registration requirements of the Securities Act of 1933 by virtue of the exemption contained in Section 4(a)(2) therein.
Previous wording
During the three months ended June 30, 2024, we issued 40,000 shares of common stock for consulting services valued at $2,000. The sales were exempt from the registration requirements of the Securities Act of 1933 by virtue of the exemption contained in Section 4(a)(2) therein.
Current wording
During the three months ended June 30, 2024, we issued 1,500 shares of Series B Convertible Preferred Stock to two accredited investors for consulting services valued at $750,000. These issuance were exempt from the registration requirements of the Securities Act of 1933 by virtue of the exemption contained in Section 3(a)(9) therein.