BITMINE IMMERSION TECHNOLOGIES, INC.
For the period ended Nov 30, 2024. Filed Jan 10, 2025.
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Nov 30, 2024 · Filed Jan 10, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use Of Proceeds.
During the three months ended November 30, 2024, we issued securities in the following private transactions:
| · | 500,0000 shares were issued to each of two officers, for a total of 1,000,000 shares, as part of their compensation for fiscal 2025 officer services. These shares were valued at $0.289 each. The price of $0.289 is based upon a price indicated by a recent valuation study performed on our common stock by a third-party valuation firm |
| · | 255,000 common shares were issued to various service providers in lieu of cash. These shares were valued at $0.289 each. The price of $0.289 is based upon a price indicated by a recent valuation study performed on our common stock by a third-party valuation firm. |
| · | 2,500 shares of Series B Convertible Preferred Stock were issued to Innovative Digital Investors Emerging Technology, L.P. in consideration for $200,000 cash and the cancellation of 11,500,000 shares of common stock owned by the recipient. |
The issuances of common stock and Series B Convertible Preferred Stock described above were deemed to be exempt under Section 4(a)(2) of the Securities Act as transactions by an issuer not involving a public offering. The recipients of such securities were our directors, employees or bona fide consultants. Appropriate legends were affixed to the securities issued in these transactions. Each of the recipients of securities in these transactions had adequate access, through employment, business or other relationships, to information about us.
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