Dallas, Texas 10/14/2013 (Financialstrend) – The Alkaline Water Company Inc (OTCBB:WTER) has a market cap of $50.8 million and total of 5.4 million outstanding shares. Over the past two weeks the manufacturer and distributor of electrolysis based alkaline water has filed series of SEC filings indicating the new stock holding patterns and stock issued to new investors.
In the first of the announcements, On October 8 WTER indicated that it had issued a total of 1.25 million shares of its common stock to three investors. This transaction totally yielded $0.5 million and translated to a valuation of $0.4 per share. That translates to a 32% discount on the $0.53 per share that the stock was trading on October 8. The transaction is being described as a private placement which was facilitated by a finder. In order to pay for the services of the finder, company issued him 1.25 million units. Each unit is made up of one warrant for share purchase which the finder can exercise over the next two years at $0.5 buying price. In addition, each unit will also consist of a ½ share purchase warrant. The holder has the option over the next two years to trade one full warrant to one share of common stock at $0.6 per share. The firm also disclosed that the investors and the finder are not United States persons as defined by SEC.
Alkaline Water announced on the same day that it had issued a total of 20 million of Series A preferred stock and 6 million of stock option to two of its directors “Steven A. Nickolas and Richard A. Wright.” Each of the preferred stock has a deemed value of $0.001 per share where as the stock option can be exercised at $0.605 per share.
In a follow up announcement on October 10, WTER indicated that it has issued 0.2 million shares of common stock to a consultant in exchange of services he had provided.