On December 31, 2012, AquaLiv Technologies Inc (“ALTI”) and Verity Farms II Inc. (“Verity Farms”), a South Dakota corporation, entered into a Share Exchange Agreement. Pursuant to the Share Exchange Agreement, ALTI acquired 100% of the authorized and issued shares of Verity Farm in exchange (the “Exchange”) for 4,850,000 shares of Series B Convertible Preferred Stock, par value $0.001, of ALTI, representing approximately 86% of the outstanding shares of ALTI, on a fully-diluted basis, assuming conversion into common stock. As a result of the Exchange and the other transactions contemplated thereunder, Verity Farms is now a wholly-owned subsidiary of the ALTI and ALTI acquired Verity Farms’s business operations including the real estate holdings, and its subsidiaries. As part of the Exchange, a change in control took place and Duane Spader was appointed chief executive officer of ALTI. A name change to Verity Corp. and the administrative closing of FOCUS, an ALTI subsidiary, were part of the Exchange. In addition, Mr. Spader received shares of Series C Preferred stock which entitle him at all times to vote with the common stock holders on all matters and cast 51% of the votes, thereby ensuring his control of matters voted upon.
Company profile
Ticker
HSMD, VRTYD
Exchange
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
AQUALIV TECHNOLOGIES, INC., Infrared Systems International, Verity Corp.
SEC CIK
Corporate docs
Subsidiaries
Verity Merger Corp. ...
IRS number
383767357
Latest filings (excl ownership)
8-K
Entry into a Material Definitive Agreement
21 Mar 23
8-K
Entry into a Material Definitive Agreement
10 Mar 23
8-K
Departure of Directors or Certain Officers
14 Feb 23
10-K
2021 FY
Annual report
3 Jun 22
8-K
Other Events
14 Jan 22
NT 10-K
Notice of late annual filing
28 Dec 21
8-K
Entry into a Material Definitive Agreement
2 Dec 21
8-K
Other Events
4 Nov 21
8-K
Termination of a Material Definitive Agreement
17 Sep 21
10-Q
2021 Q3
Quarterly report
23 Aug 21
Latest ownership filings
Financial summary
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
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Cash on hand (at last report) | 659.19 k | 659.19 k | 659.19 k | 659.19 k | 659.19 k | 659.19 k |
Cash burn (monthly) | (no burn) | 50.86 k | 316.49 k | 143.76 k | 1.84 mm | 297.98 k |
Cash used (since last report) | n/a | 911.07 k | 5.67 mm | 2.58 mm | 32.88 mm | 5.34 mm |
Cash remaining | n/a | -251.87 k | -5.01 mm | -1.92 mm | -32.22 mm | -4.68 mm |
Runway (months of cash) | n/a | -5.0 | -15.8 | -13.3 | -17.6 | -15.7 |