136
1 day ago
$BURU $BURUD . Can see crazy heights with $250,000-$1,000,00 in dollar volume.
Total SS right now is under 1,000,000 shares. Insiders own half of that....
So 500,000ish free float is tradable.
Only takes one good deal and it moons
KeepItRealistic
3 days ago
Regarding debt
25 million shares to settle $1,100,000
= .044 post RS = $1.76
17 million shares to settle $767,000
= .045 post RS = $1.80
12 million shares to settle $530,000
= .044 post RS = $1.80
11 million shares to settle $635,000
= .0577 post RS = $2.30
———————————————————
65 million shares of dilution
(1.625m post RS)
Item 1.01 Entry into a Material Definitive Agreement.
As previously disclosed, in June 2023, the Company issued certain convertible promissory notes to various noteholders, some of which were subsequently acquired from such noteholders by third-party purchasers in transactions that did not include the Company as a party. The Company has agreed with purchasers of such notes (the “Investors”) to the conversion and settlement of certain notes held by such Investors, which will result in the issuance of shares of common stock, par value $0.0001 per share (the “Common Stock”) of the Company. While the initial conversion transaction may ultimately result in the issuance of up to approximately 11 million shares of Common Stock to settle $635,000 in principal of notes (and subsequent transactions may result in the issuance of up to approximately 12 million shares (to settle $530,000 in principal of notes), 17 million shares (to settle $767,000 in principal of notes), and 25 million shares (to settle $1,100,000 in principal of notes, respectively), the Company agreed not to issue shares with respect to any such transaction if that would result in the noteholder receiving more than 4.99% of the outstanding Common Stock at any given time. Further, the Company will not issue Common Stock with respect to any such transaction in excess of 19.99% of the outstanding Common Stock as of the effective date of such transaction, unless the Company has obtained stockholder approval to issue shares in excess of such amount. The Company has engaged in and anticipates engaging in similar transactions with respect to other outstanding debt and obligations as part of its effort to reduce debt, improve its capital structure, and expand its stockholder base. The Company previously obtained stockholder approval for issuances that would exceed 20% or more of the outstanding Common Stock; however, based on NYSE rules, that blanket authorization lapsed 90 days after the February 22, 2024 stockholder meeting. The Company intends to promptly seek stockholder approval for issuances of Common Stock that would exceed 20% or more of the outstanding Common Stock for an additional 90-day period to continue to support its financing and recapitalization goals.
KeepItRealistic
3 days ago
From ChatGPT
Getting relisted on the NYSE American (formerly known as the AMEX) involves meeting several stringent requirements. While the specific requirements can vary depending on the circumstances of the delisting and the current market conditions, generally, the following criteria must be met for a company to be considered for relisting:
1. **Financial Criteria**:
- **Minimum Shareholders’ Equity**: Companies usually need to demonstrate a minimum shareholders' equity, often around $4 million to $6 million, depending on the nature of their operations and other factors.
- **Market Capitalization**: There may be requirements for minimum market capitalization, often in the range of $50 million.
- **Revenue and Earnings**: Demonstrating consistent revenue and earnings can be crucial. Specific thresholds can vary.
2. **Corporate Governance**:
- **Board and Committee Composition**: Companies must comply with governance standards, including having a majority of independent directors on the board and fully independent audit and compensation committees.
- **Internal Controls**: Adequate internal control over financial reporting must be demonstrated.
3. **Regulatory Filings**:
- **Current Financial Statements**: The company must have up-to-date financial statements filed with the SEC.
- **Compliance with SEC Regulations**: Full compliance with all SEC reporting requirements is necessary.
4. **Market Requirements**:
- **Share Price**: The company’s share price must typically be above a minimum threshold, often around $2 to $3 per share.
- **Public Float**: A sufficient number of shares must be held by public shareholders, ensuring adequate liquidity.
5. **Operational Stability**:
- **Business Operations**: The company must demonstrate ongoing, viable business operations.
- **Historical Performance**: Evidence of financial stability and performance history can be required.
6. **Additional Documentation**:
- **Relisting Application**: Submission of a detailed relisting application, which may include business plans, financial projections, and other supporting documents.
- **Regulatory Review**: The application and supporting documents will undergo rigorous review by the exchange and possibly other regulatory bodies.
It is advisable for companies seeking relisting to work closely with financial advisors and legal counsel to ensure they meet all applicable requirements and to navigate the process efficiently.
ToucanYoucan
3 days ago
$BURU - This was in the June 13, 2024 Shareholder update - (I think the 2nd part about Capital Structure is referring to additional shares after the split - I could be wrong. As far as I know they are not back on the NYSE after the split):
Maintaining NYSE Listing
As part of our overall recalibration, consistent with the authorization previously provided by shareholders, we will be implementing a 1-for-40 reverse stock split of our outstanding stock effective June 24, 2024 and expect that our stock would begin trading on June 25, 2024 on a split-adjusted basis under a new CUSIP number, 67021W301.
We believe this will benefit shareholders by reducing the number of outstanding shares and increasing the share price, making the stock more appealing to institutional investors and analysts who tend to avoid stocks with low prices. Additionally, it will help the Company continue to satisfy the minimum price requirements for listing on the NYSE and make it easier for institutional investors to compare NUBURU's stock price with its peers. The reverse stock split does not affect the Company's fundamental value or the proportional ownership of shareholders. Your stake in the Company remains unchanged.
Capital Structure
In addition to our capital-raising efforts, we have entered into agreements, and are pursuing additional agreements, to extinguish some of our outstanding debt, including the conversion and settlement of outstanding convertible promissory notes in exchange for shares of common stock. Currently, we are limited by NYSE rules that prohibit an issuance of common stock in a transaction if it would result in the issuance of shares equal to 20% or more of our outstanding shares. We intend to settle additional amounts of debt once we have obtained shareholder approval to issue shares in excess of 20% of our outstanding common stock for such purpose. Additional information regarding our settlement of debt is available in a Current Report on Form 8-K filed with the SEC on June 13, 2024.
ToucanYoucan
3 days ago
$BURU - I'm not sure after reading it a second time. It says that the Authorized shares remain the same and the shareholders have the same relative percentage ownership after the split.
There will be no change to the number of authorized capital stock of the Company. The Reverse Split will have no effect on the par value of the Common Stock or the Preferred Stock. Immediately after the Reverse Split, each stockholder’s percentage ownership interest in the Company and proportional voting power will remain unchanged, except for minor changes and adjustments that will result from the treatment of fractional shares. The rights and privileges of the holders of shares of Common Stock will be unaffected by the Reverse Split.
But the one of the two prospectus states that UP TO 15.6 million shares would be sold. The other prospectus is for insiders it looks like.
We'll see.
I don't understand when this kicks in:
The Prospectus relates to the offer and resale of up to 15,600,000 shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”), by Lincoln Park Capital Fund, LLC.
pinkslipjunkie
2 weeks ago
Hmmmm...never seen this happen before.
Nuburu, Inc. (the “Company”) previously announced that it was implementing a reverse stock split of its common stock at a ratio of 1-for-40 (the “Reverse Split”), which was to become effective on July 10, 2024. Notwithstanding that the Company provided FINRA with more than 10 days prior notice of the record date for the Reverse Split as required under applicable rules, FINRA has indicated that, due to a backlog of its processing of corporate actions with respect to issuers quoted on the over-the-counter market administered by FINRA, it is not able to process the Reverse Split as of July 10, 2024. As a result, the Company must delay the implementation of the Reverse Split until FINRA is able to process this action. The Company will promptly notify the market upon establishing a new record date for the Reverse Split.