Summary by Futu AI
Aclarion, Inc. has entered into an active Equity Line Purchase Agreement with White Lion Capital LLC, effective since October 9, 2023. Under this agreement, Aclarion has the potential to sell up to $10 million in common stock shares until December 31, 2024. As of August 2024, Aclarion has already sold approximately $3.216 million worth of shares to White Lion. Additionally, White Lion received Commitment Shares valued at $75,000. The agreement allows Aclarion to direct White Lion to purchase shares at prices that vary with the market. Aclarion may terminate the agreement under specific conditions and has registered additional shares for potential future sales to White Lion. The proceeds from these sales are earmarked for general corporate purposes, including working capital. This funding is crucial for Aclarion's ongoing operations and its ability to continue as a going concern, with the aim to sustain liquidity and fund operations into the third quarter of 2024.