April 12, 2017
We have received several questions concerning the Form D that was filed last month as well as yesterday. Just for clarification, this is a requirement for a company, not often followed by most, but of great importance to ProGreen, when the time is right to qualify for an up-listing on a better exchange. A Form D only summarizes its funding commitments that can involve issuance of shares and it only relates to funding already completed. With the filing of the Amended Form D yesterday, we show the total amount of funding of $623,500 since September 13, 2016.
As we have made very clear several times before, we have the firm intention to pay off all outstanding notes in cash, in order to avoid any dilution of the stock from conversion.
Of the total of $623,500 shown in the Form D, “Offering and Sales Amounts”, $105,000 has already been paid off in cash, as was announced in the company press release on March 17.
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