$CELZ broke above prior high on the last leg after a release of 8-Ks showing the clearing up of the rest of the company's debt and notes.
Item 1.01 Entry into a Material Definitive Agreement
Effective April 11, 2018, Creative Medical Technology Holdings, Inc. (the “ Company ”) amended promissory notes issued by it and by its operating subsidiary, Creative Medical Technology, Inc., to Creative Medical Health, Inc. (“ CMH ”), the parent of the Company, to permit the conversion of the notes into restricted shares of common stock of the Company. The 8% promissory notes were originally issued February 2, 2016, in the principal amount of $50,000, on May 1, 2016, in the principal amount of $50,000, and on May 18, 2016, in the principal amount of $25,000. The conversion formula on the principal and accrued interest on the amended notes is 120% of the 30-day volume weighted average price (VWAP) for the Company’s common stock traded March 1, 2018 through March 30, 2018. Immediately upon amendment of the notes, CMH converted the total outstanding principal and interest of the notes, which was $136,003. The VWAP for the 30-day period ended March 30, 2018, was $0.0138 and the number of shares issued to CMH for the conversion was 9,855,290 restricted common shares.
Item 3.02 Unregistered Sales of Equity Securities
In connection with the conversion of the notes disclosed under Item 1.01 above, the Company issued 9,855,290 shares of common stock to CMH without registration. The issuance of these securities was made pursuant to Rule 506(b) of Regulation D promulgated by the SEC under the Securities Act as a transaction not involving any public offering. No selling commissions or other remuneration were paid in connection with the issuance of these shares.
Item 8.01 Other Events
On April 12, 2018, the Company issued a press release announcing the amendment to the CMH notes and the conversion of the notes into common stock of the Company.
From April 12, 2018 through April 19, 2018, we issued an aggregate of 114,017,952 shares upon the conversions of outstanding notes and 15,009,325 shares upon the cashless exercise of outstanding warrants. These conversions were made pursuant to the exemption provided by Section 3(a)(9) of the Securities Act of 1933. As a result of these issuances, we have outstanding 609,062,989 shares of common stock as of April 19, 2018.
Item 1.01 Entry into a Material Definitive Agreement
Effective April 11, 2018, Creative Medical Technology Holdings, Inc. (the “ Company ”) amended promissory notes issued by it and by its operating subsidiary, Creative Medical Technology, Inc., to Creative Medical Health, Inc. (“ CMH ”), the parent of the Company, to permit the conversion of the notes into restricted shares of common stock of the Company. The 8% promissory notes were originally issued February 2, 2016, in the principal amount of $50,000, on May 1, 2016, in the principal amount of $50,000, and on May 18, 2016, in the principal amount of $25,000. The conversion formula on the principal and accrued interest on the amended notes is 120% of the 30-day volume weighted average price (VWAP) for the Company’s common stock traded March 1, 2018 through March 30, 2018. Immediately upon amendment of the notes, CMH converted the total outstanding principal and interest of the notes, which was $136,003. The VWAP for the 30-day period ended March 30, 2018, was $0.0138 and the number of shares issued to CMH for the conversion was 9,855,290 restricted common shares.
Item 3.02 Unregistered Sales of Equity Securities
In connection with the conversion of the notes disclosed under Item 1.01 above, the Company issued 9,855,290 shares of common stock to CMH without registration. The issuance of these securities was made pursuant to Rule 506(b) of Regulation D promulgated by the SEC under the Securities Act as a transaction not involving any public offering. No selling commissions or other remuneration were paid in connection with the issuance of these shares.
Item 8.01 Other Events
On April 12, 2018, the Company issued a press release announcing the amendment to the CMH notes and the conversion of the notes into common stock of the Company.
From April 12, 2018 through April 19, 2018, we issued an aggregate of 114,017,952 shares upon the conversions of outstanding notes and 15,009,325 shares upon the cashless exercise of outstanding warrants. These conversions were made pursuant to the exemption provided by Section 3(a)(9) of the Securities Act of 1933. As a result of these issuances, we have outstanding 609,062,989 shares of common stock as of April 19, 2018.
