Live Current places 3.7 million shares and hires COO.
Live Current Media, which owns Perfume.com, has raised $370,000 selling additional shares to accredited investors. The company sold 74 units to six different investors, with each unit including 50,000 shares of stock and a warrant to purchase another 50,000 shares for 15 cents each within two years. Each unit cost $5,000. Currently, shares of Live Current sell for 10 cents over the counter.
To put it in perspective, 50,000 shares would have cost over $100,000 just two years ago.
Live Current Media CEO Geoffrey Hampson purchased 20 of the units through Hampson Equities Ltd. for $100,000, according to an SEC filing. Hampson also lowered his salary to just $1 per year. Hampson is currently being sued by some shareholders and former executives of the company for alleged fraud, breach of contract, breach of fiduciary duties, and unjust enrichment.
Another buyer was Paul W. Morrison, who was also hired to be President and Chief Operating Officer of Live Current Media and Chief Executive Officer of Perfume.com, Inc. Morrison purchased 10 units for $50,000. Morrison will be paid $130,000 a year, and will also get 5% of Perfume.com and options on up to 1 million shares in Live Current Media.