Liquidation: DarkPulse, Inc.
Form Type: CORRESP
Filing Date: 2024-02-09
Corporate Action: Liquidation
Type: Update
Accession Number: 000168316824000807
Filing Summary: DarkPulse, Inc. filed a response to the SEC regarding comments on their Registration Statement on Form S-1. The company provided updates on various aspects including their operations following the involuntary liquidation of Optilan (UK) Limited, the business combination with Global System Dynamics, Inc. which will terminate if not completed by February 9, 2024, and the risk factors related to their financing agreements with GHS Investments LLC. The company also clarified its operations involving patented BOTDA dark-pulse sensor technology, its equity financing with GHS Investments, the potential consequences of the business combination's non-consummation, and detailed its outstanding debt and liquidity requirements for the upcoming year. The document discusses numerous regulatory requirements, financing structures, and the implications for the share price and shareholder dilution based on past and current financing agreements.
Document Link: View Document
Additional details:
Cik: 0000000000
Current Operations: The extent of company's operations post-Optilan liquidation and sales of patented technology.
Business Combination Status: The transaction with Global System Dynamics, Inc. is at risk of liquidation if not consummated by February 9, 2024.
Equity Financing Agreement Summary: Details on the agreement with GHS Investments including funding limitations and share issuance.
Risk Factors: Significant dilution and impacts on share price from financing agreements since August 2021.
Outstanding Debt Details: Total outstanding debt, defaulted amounts and pending litigation.
Gds Public Shares Info: Details on Global System Dynamics remaining public shares and funds in trust account.
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