CHESS SUPERSITE CORPORATION (OTCMKTS:CHZP) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02
From February 7, 2018, the date of the Company’s last report under this Item 3.02, through the date of this Report, the Company issued unregistered shares of its common stock (“Shares”) in six (6) private transactions involving the exercise of conversion rights between June 5, 2018 and June 13, 2018 by holders of the Company’s outstanding convertible promissory notes. In each instance, the Company and each of the note holders amended the conversion price of the notes from a conversion price based on a discount to the prevailing market price as quoted on OTC Pink to a fixed conversion price of $0.0151 per share. An aggregate of 7,845,506 Shares were issued to six (6) non-affiliated noteholders.
The Shares were issued to the exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (“1933 Act”), for transactions not involving a public offering and under Regulation S adopted under the 1933 Act for offers and sales made outside the United States to non-U.S. Persons, as defined in Regulation S.
About CHESS SUPERSITE CORPORATION (OTCMKTS:CHZP)
Chess Supersite Corporation offers an online chess site featuring a playing zone, game broadcasts with software analyses and analysts’ commentaries, education and other chess oriented resources. The Company was formed to engage in any lawful corporate undertaking, including selected mergers and acquisitions. The Company also focuses on delivering various products featuring broadcasts of games across the world, education, interactivity, playing and other services. The Company focuses on offering Web-based services designed for browsers and table computers. The Company’s playing zone will utilize two-level architecture allowing users to watch and play as individuals and/or as teams. The Company is in the process of completing a Website and has secured the domain name, Chesscoliseum.com, which is ready for Beta release. The Company has not generated revenues.
