Green Energy Live, Inc. cancelled the transaction announced on March 3, 2010.
March 02, 2013 at 11:00 pm
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Green Energy Live, Inc. (OTCBB:GELV) announced an equity line with Auctus Private Equity Fund, LLC for gross proceeds of $10,000,000 on March 3, 2010. The company will issue the common stocks for a period of 36 months.
The amount that the company shall be entitled to request from each purchase shall be equal to, at the company election, either up to $150,000 or up to 200% of the average daily volume of the common stock for the three trading days prior to the applicable put notice date, multiplied by the average of the three daily closing bid prices immediately preceding the put date. The put date shall be the date that the investor receives a put notice of a draw down by the company. During the open period, the company shall not be entitled to submit a put notice until after the previous closing has been completed. The purchase price shall be set at 95% of the lowest closing best bid price of the common stock during the pricing period. The pricing period shall be the five consecutive trading days immediately after the put notice date. Such investments will be made in reliance upon the provisions of Section 4(2) under the Securities Act of 1933, as amended Rule 506 of Regulation D. Matthew Maza of Cident Law Group PLLC will serve as the legal advisor to the company.
The company will issue to the investor a non-refundable origination fee equal to 1,000,000 of restricted stock.
On December 1, 2009, the company issued 1,000,000 restricted common shares as origination fee to the investor.
On March 3, 2013, Green Energy Live, Inc. cancelled the transaction.
Green Energy Live, Inc. (GELV) operates as a bio-conversion technology engineering company for fuel, farming and waste management. The Company's divisions include: SymBio, which is a waste to fuel technologies division, and Zen Energy, which is a solar and wind technologies renewable energy division. It is engaged in developing, patenting and implementing conversion technology for Biofuels. The Company's subsidiaries include Comanche Livestock Exchange, Inc. (Comanche) and Invigorate Fertilizer. Comanche is dedicated to serve the cattle producers. Comanche also offers live auction market, private treaty sales and/or online sales. Invigorate Fertilizer offers all-natural organic fertilizer for the home lawn and garden markets, retail nursery, commercial landscaping and athletic field. SymBio is engaged in developing and acquiring green technologies. Zen Energy intends to use solar materials in wall and roof panels that convert sunlight into electrical energy.