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PURE HARVEST CORPORATE GROUP, INC.

(PHCG)
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PURE HARVEST CORPORATE GROUP, INC. : Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Unregistered Sale of Equity Securities (form 8-K)

07/26/2021 | 04:05pm EDT

ITEM 2.03 Creation of a Direct Financial Obligation or an Obligation under an

          Off-Balance Sheet Arrangement of a Registrant.



On July 16, 2021, the Company issued two convertible promissory notes to two unrelated third parties. The notes, one in the principal amount of $350,000 and one in the principal amount of $50,000, are convertible into shares of the Company's common stock at a conversion price of $0.40 per share. The notes are due and payable on August 20, 2021 and are unsecured. On August 20, 2021 the Company will collectively pay $30,000 in interest to the note holders. As further consideration for purchasing the notes, the Company issued a total of 30,000 shares of its restricted common stock to the note holders.

ITEM 3.02. Unregistered Sale of Equity Securities.

The Company relied upon the exemption provided by Section 4(a)(2) of the Securities Act of 1933 in connection with issuance of the notes described in Item 2.03 of this report. The persons who acquired the notes were sophisticated investors and were provided full information regarding the Company's business and operations. There was no general solicitation in connection with the issuance of the notes. The persons who acquired the notes acquired them for their own accounts.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 0,74 M - -
Net income 2020 -6,35 M - -
Net Debt 2020 2,87 M - -
P/E ratio 2020 -3,88x
Yield 2020 -
Capitalization 27,9 M 27,9 M -
EV / Sales 2019 431x
EV / Sales 2020 46,6x
Nbr of Employees 25
Free-Float 85,8%
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Managers and Directors
Matthew D. Gregarek Chairman & Chief Executive Officer
David Burcham President & Director
Alexander Glueckler Chief Financial & Accounting Officer
Peyton Bowman Chief Operating Officer
Donnie Emmi Director
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