RVBD » Topics » Redeemable Convertible Preferred Stock

These excerpts taken from the RVBD 8-K filed Apr 30, 2009.

Redeemable Convertible Preferred Stock

The Company has authorized 224,615,638 shares at September 30, 2008 and 202,321,871 shares at December 31, 2007 of redeemable convertible preferred stock, of which 132,707,163 and 110,123,398 shares are issued and outstanding at September 30, 2008 and December 31, 2007, respectively as follows:

 

     September 30
2008
   December 31
2007

Series A/A-1 redeemable convertible preferred stock (Series A Preferred Stock), $0.0001 par value:

     

Authorized – 7,797,500 shares at September 30, 2008 and December 31, 2007

     

Issued and outstanding – 7,737,500 shares at September 30, 2008 and December 31, 2007, at liquidation and redemption value

   $ 7,737,500    $ 7,737,500

Series B/B-1 redeemable convertible preferred stock (Series B Preferred Stock), $0.0001 par value:

     

Authorized – 14,731,321 shares at September 30, 2008 and December 31, 2007

     

Issued and outstanding – 14,656,053 shares at September 30, 2008 and December 31, 2007, at liquidation and redemption value

     15,388,854      15,388,854

Series C/C-1 redeemable convertible preferred stock (Series C Preferred Stock), $0.0001 par value:

     

Authorized – 137,362,054 shares at September 30, 2008 and December 31, 2007

     

Issued and outstanding – 55,362,283 shares at September 30, 2008 and December 31, 2007 , at liquidation and redemption value

     12,251,673      12,251,673

Series D redeemable convertible preferred stock (Series D Preferred Stock), $0.0001 par value:

     

Authorized – 64,724,763 shares at September 30, 2008 and 42,430,996 shares at December 31, 2007

     

Issued and outstanding – 53,484,406 shares at September 30, 2008 and 32,367,562 at December 31, 2007, at liquidation and redemption value

     12,171,213      7,171,213
             
   $ 47,549,240    $ 42,549,240
             

In March 2008, the Company issued 22,593,765 shares of Series D Preferred Stock, resulting in proceeds of $5,000,000.

The rights, preferences, and privileges of the Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock (the “Preferred Stock”) are listed below:

Redeemable Convertible Preferred Stock

The Company has authorized 202,321,871 shares of redeemable convertible preferred stock, of which 110,123,398 shares are issued and outstanding at December 31, 2007 and 2006, as follows:

 

     2007    2006

Series A/A-1 redeemable convertible preferred stock (Series A Preferred Stock), $0.0001 par value:

     

Authorized – 7,797,500 shares

     

Issued and outstanding – 7,737,500 shares at December 31, 2007 and 2006, respectively, at liquidation and redemption value

   $ 7,737,500    $ 7,737,500

Series B/B-1 redeemable convertible preferred stock (Series B Preferred Stock), $0.0001 par value:

     

Authorized – 14,731,321 shares

     

Issued and outstanding – 14,656,053 shares at December 31, 2007 and 2006, at liquidation and redemption value

     15,388,854      15,388,854

Series C/C-1 redeemable convertible preferred stock (Series C Preferred Stock), $0.0001 par value:

     

Authorized – 137,362,054 shares

     

Issued and outstanding – 55,362,283 shares at December 31, 2007 and 2006, at liquidation and redemption value

     12,251,673      12,251,673

Series D redeemable convertible preferred stock (Series D Preferred Stock), $0.0001 par value:

     

Authorized – 42,430,996 shares

     

Issued and outstanding –32,367,562 shares at December 31, 2007 and 2006, at liquidation and redemption value

     7,171,213      7,171,213
             
   $ 42,549,240    $ 42,549,240
             

In January 2006, the Company sold 2,213,214 shares of Series D Preferred Stock, at $0.22 per share, for proceeds of $498,056.

The rights, preferences, and privileges of the Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock (the “Preferred Stock”) are listed below:

EXCERPTS ON THIS PAGE:

8-K (2 sections)
Apr 30, 2009

RELATED TOPICS for RVBD:

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